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Economy in Brief

Hong Kong Property Markets Show Signs of Revival
by Louise Curley  March 22, 2004

The rental and property markets in Hong Kong are beginning to show signs of revival. Prices in these markets had reached peaks in October, 1997 and had declined steeply until the past few months.

The index of rental prices, which had declined by 49% from its high, held steady in January after having rising for the previous three months. The improvement in property prices has been more marked as the index of property prices has risen in each of the past six months. However, that index had fallen by some 70% from its October, 1997 high.

Prices in both the rental and property markets are still well below even the pre peak levels.

Rental and Property Prices in 
Hong Kong (1999=100)
Jan 04 Dec 03 Jan 03 M/M 
%
Y/Y 
%
2003 2002 2001
Rental 72.4 71.4 77.4 0.0 -6.46 73.5 83.4 95.3
Property 67.8 65.0 63.7 4.31 6.44 61.4 69.9 78.7
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