Photo: Stuck in Customs on flickr
Hong Kong’s real estate market blazed through another record this month, despite sundry cooling measures.2,628 luxury homes have been sold year-to-date. Already this number is greater than full-year total figures for the bubble years of 1997 and 2007, according to South China Morning Post.
Moreover, the average price of luxury homes is now 14% higher than the previous the peak in Q3 1997.
Other recent records include the district’s most expensive sale ever last month.
The local government has blamed this surge on, you guessed it, Ben Bernanke.