30-year History of Hong Kong Property Market in One Chart17 January, 2011, 1:47. Posted by Zarathustra
Tags: Hong Kong, Property, Real Estate
I started this rather ambitious project of plotting a 30-year history of Hong Kong Real Estate Prices along side with major economic and political events, as well as major government policies. Here is a work-in-progress of this project, and I will be adding more details here soon, including more details of government policies and global events in table format. Meanwhile, do check out my Hong Kong Property Market 2011 Forecast.
Click to Enlarge
In the chart, all red texts denote bad news, while green are good news. Those in smaller font and italicised are major events unrelated to Hong Kong government policies, while the bold texts are all government policies.
The purpose of this is really to show the history of Hong Kong property market in a comprehensible way, and to help readers to understand the relationship of government housing policy and property prices. As you can see in the chart, the reality is that the government has tried to curb home prices in bull market, and support home prices in bear market, but most of the time the policies failed.
The source of the property prices index is Hong Kong government’s Rating and Valuation Department, as day have long-enough time series as opposed to the commonly used Centa-City Leading Index, which only starts from 1994. Historical events and policies history are either from my memories, or old newspaper. I will update the list of references as I continue.
This is still a work-in-progress, so this page will probably change from time to time as I continue to edit. The reason why I am posting despite it is a work-in-progress because I would like to here some feedback if there are any important moments in the history missing, especially for those which are further away from now. I will also expand the discussion here on Hong Kong Government Housing policy and home prices history. For any feedback, please email me.