Despite slowing growth, street protests and the prospect of higher interest rates, Hong Kong property prices – already the world’s highest – are continuing to rip even higher.
Average prices, as measured by local agency Centaline, clocked up a fresh record in October, presenting another challenge to the Hong Kong government, which is also facing a mass civil disobedience campaign now into its second month.
Despite the protests, which have shut down major highways across the city’s main business districts, new developments have continued to attract strong interest. When sales began last month at Pavilia Hills, a new luxury development, demand was such that a raffle had to be held simply for the right to put down a deposit.
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