Hong Kong housing prices up 5 percent in a month
The price of Hong Kong residential properties in March was 25 percent higher than a year ago. Could it be – a bubble?
Today, the University of Hong Kong released their Hong Kong Residential Real Estate Series (HKU-REIS) indicating that, in March, the price of residential properties increased a whopping 4.54% since February climbing 25.46% above the level seen in March 2010.
The “Hong Kong Island” index, “Kowloon” and “New Territories” sub-components also showed stunning monthly and annual increases with 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 “modified” repeat-sale methodology similar to that of the S&P/Case-Shiller indices yet suited to the Hong Kong property market.
The Christian Science Monitor has assembled a diverse group of the best economy-related bloggers out there. Our guest bloggers are not employed or directed by the Monitor and the views expressed are the bloggers' own, as is responsibility for the content of their blogs. To contact us about a blogger, click here. To add or view a comment on a guest blog, please go to the blogger's own site by clicking on the link above.