it started to boom after CNY.
I undestand that a lot of ppl remain very skeptical about ther recent surge in the volume and price of properties (of course, ppl are more concerned about the residential ones). They reckon that it is going to be another slump in price similar to that in 1997 and 98. But in my opinion, in terms of investment, you have to look forward, instead of looking back. Now, even though we've seen a 10% or more increase in price within a short time frame, it is no where close to 1997. Take Telford Gardens as an example. The ACTUAL avg price per sq ft stands at only $3K whereas it was about $6.3-6.5K in 1997. If a buyer puchases a 625sq ft flat @3.5K (on the high side already), the price will be HK$2.2M and the monthly payment will be only around $8K. Say monthly payment accounts for 20% (on the low side already) of total household income ($40K). What do you think if a family with a total income of $40K lives in Telford? Pretty OK right? a big financial burden? probably not. 16% increase from HK$3K to HK$3.5K within 0.5yr -ppl will say, "wow, very speculative, the bubble is gonna burst."
According to the table, it is a month on month comparison. If there is a long holiday break in Feb, it is very likely that a smaller no. of transactions will be reported. Also, it has been reported that a lot of buyers took action in Jan prior to CNY as they were afraid that the price would go up afterwards.
In short, it is simply not a like-to-like comparsion. Of course, there could be some other reasons.
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