Hong Kong’s red-hot property market
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Hong Kong’s property market continues to rise. Hong Kong’s residential property price index soared 14.29% (14.4% inflation-adjusted) during the year to February 2017, a sharp turnaround from a y-o-y decline of 6.11% (-8.82% inflation-adjusted) during the same period last year, according to the Ratings and Valuation Department (RVD). Quarter-on-quarter, residential property prices increased 1.99% (1.89% inflation-adjusted) in February 2017.
Real incomes have virtually stagnated in Hong Kong for years. But house prices have tripled from 2003 to 2015.
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