Is there a real estate bubble growing in Hong Kong?
In June, the price of residential properties in Hong Kong increased 1.18% since May and climbed 6.64% above the level seen in June 2011. Prices continue to rise each month, according to new data from the University of Hong Kong.
This chart shows residential property prices in Hong Kong since 1997. After a notable pullback in late-2011 prices are rising with all measures continuing to increase notably each month.
SoldAtTheTop
Recently, the University of Hong Kong released their Hong Kong Residential Real Estate Series (HKU-REIS) indicating that, in June, the price of residential properties increased 1.18% since May and climbed 6.64% above the level seen in June 2011.
It appears that after a notable pullback in late-2011 prices are totally soaring with all measures continuing to rise notably each month.
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.