Experts predict that Hong Kong housing prices will continue to rise by as much as 15% in the next 12 months -- compelling people to buy homes that are already quite expensive now, because they are going to become even more expensive in the coming months.

Prices are going up because supply remains limited but demand is growing in Hong Kong, as mortgage costs hit record lows and more mainland Chinese want to buy property in the city. Home prices have gone up 11% this year. In July, they reached the highest level since 1997.