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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.

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This chart shows residential property prices in Hong Kong since 1997. After a notable pullback in late-2011 prices are rising with all measures continuing to increase notably each month.

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.

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