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Showing posts with the label Park Island historical prices

Park Island property prices.

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"What's the Hong Kong property market going to do"?
That of course is the question everyone wants to know. And if we did know, we could of course all be very rich!
No one can predict with 100% accuracy what the market will do. But what we can do with 100% certainty is look at historical data.
The graph below shows Park Island apartment prices over the last year.
The line in blue is the average price per square foot for Park Island apartments, plotted on a weekly basis over the past year. And line in red is the 12 month moving average line.
Those who argue that "the market has turned" will point to the apparent decline in prices for transactions over the last few weeks (as shown by the last dip in the blue line).
On the other hand, others will argue that the rate of price increases has been steady and constant over the year (as shown by the constant rise upwards of the red line).
My own view is that we are in for continued long term prices increases, and that the tren…