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Hong Kong bubble? Property prices fall in December.

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In December 2012, the price of residential properties in Hong Kong declined 0.8 percent since November but climbed 26.77 percent above the level seen in December 2011.

The latest release of the University of Hong Kong's Hong Kong Residential Real Estate Series (HKU-REIS) indicating that, in December, the price of residential properties declined 0.8% since November but climbed 26.77% above the level seen in December 2011. 

The HKU-REIS is a set of property price indices constructed monthly using a “modified” repeat-sale methodology similar to that of the S&P/Case-Shiller indices yet suited to the Hong Kong property market. 

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