The latest release of the University of Hong Kong's Hong Kong Residential Real Estate Series (HKU-REIS) indicating that, in November, the price of residential properties declined 1.43% since October but still rose 3.82% above the level seen in November 2012.
The last few months of data appear to be indicating that a pullback of sorts is occurring for Hong Kong property prices. Clearly, it will take some more time and data to discern whether this pullback is just a healthy pause in an astounding run of price inflation as had occurred during 2008 and 2011 or whether some more notable trend is playing out.
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.
