Monday, November 29, 2010

Hong Kong Resales within 12 Months up 114% Year on Year

Housing bubble risk intensifies in Hong Kong
The situation has been deteriorated suddenly, Eva Cheng, Secretary for Transport & Housing, told legislators on Wednesday. Short-term resale transactions are increasing rapidly in Hong Kong, she said, adding in the first nine months of this year the number of resales within 12 months of acquisition rose 114 percent compared to the same period last year.

I don't know about "suddenly" unless we are discussing geologic time.

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