Today, the University of Hong Kong released their Hong Kong Residential Real Estate Series (HKU-REIS) indicating that, in October, the price of residential properties declined 0.26% since September but still climbed 13.43% above the level seen in October 2010.
It appears that after a stunning run of monthly increases that saw prices increase dramatically, prices are beginning to show a notable pullback with all measures declining on the 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.
