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2021-08-13

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Home Prices in World’s Most Expensive Market Break Record

(Bloomberg) -- Hong Kong’s home prices jumped to a record high, joining other global real estate mar

Home Prices in World’s Most Expensive Market Break Record

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The last record for the firm’s price index was set in mid-2019 at the beginning of anti-government protests. Residential property values have increased 8.6% since the beginning of the year.\nOutsized demand, limited supply and low borrowing costs have fueled the world’s most expensive property market even amid concerns about the city’s future after the protests and the introduction of a national security law by China last year.\nThe abundance of liquidity has also resulted in soaring prices in other major financial centers around the world. U.S. residential property prices jumped the most in 30 years in April, with even more dramatic rises in many suburban and rural areas where bidding wars are common. 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