Hong Kong housing bubble?
There has been much speculation recently about an ongoing price bubble occurring in the Hong Kong residential property market.
The (HKU-REIS) indicated that, in January, the price of residential properties increased a whopping 2.89% since December climbing 22.12% above the level seen in January 2010.
The 鈥�Hong Kong Island鈥� index, 鈥�Kowloon鈥� and 鈥淣ew Territories鈥� sub-components also showed notable year-over-year increases with "New Territories" outpacing the pack with notable 4.15% monthly increase while the "Hong Kong Island" series indicated that prices have now far outpaced the prior 1997 peak.
The HKU-REIS is a set of property price indices constructed monthly using a similar to that of the S&P/Case-Shiller indices yet suited to the Hong Kong property market.
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