Hong-KongLanguage(s): English & Cantonese (Official)
Area Total: 1,104 km2
Population: Abt. 7.1 million
GDP (PPP): 2011 estimate
Total: $351.119 billion
Per capita: $49,137

Hong Kong is one of the two Special Administrative Regions of the People's Republic of China, the other being Macau.

Property price increases in Hong Kong are now accelerating again, despite the economy slowing.
During the year to end-November 2012 house prices skyrocketed by 23.74% (19. 22% inflation-adjusted), the highest year-on-year increase since June 2011, according to the Ratings and Valuation Department (RVD).

Smaller-sized residential properties have seen the highest price increases. During the year to November 2012, the average price of apartments smaller than 40 sq. m. rose by 27%, 25% for 70-100 sq. m. apartments and 4% for 100-160 sq. m. apartments.

Rent increases have been more muted. In November 2012, the average monthly rent for 70-100 sq. m. apartments in Hong Kong rose by 2.2% y-o-y to HK$371 (US$48) per sq. m., according to RVD. Over the same period, the average monthly rent for 70-100 sq. m. apartments in Kowloon dropped by 8.8% to HK$249 (US$32) per sq. m. while in the New Territories, rents rose by 11.2% to HK$218 (US$28) per sq. m.

Property prices in Hong Kong are expected to continue rising in 2013, albeit at a slower pace, according to local property experts.

 

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