Concern over Hong Kong real-estate bubble are warranted. Recently there has been much speculation about the price bubble in the Hong Kong residential property market. Many have wanted to brush this away. However, Hong Kong Financial Secretary John Tsang recently announced significant measures that will be taken in order to mute the real estate trading activity. Some of the measures announced will include a higher levy on luxury properties, adjustments to the rate of land auctions and tighter scrutiny on bank lending.
According to a report issued by the University of Hong Kong’s Residential Real Estate Series (HKU-REIS) indicated that, in January, the price of residential properties continued to rise increasing 1.53% since December and 29.57% since January 2009. The HKU-REIS is a report based on similar methodology to the S&P/Case-Shiller indices yet suited to the Hong Kong property market.
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