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.
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.
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 paper-money.blogspot.com.