Hong Kong luxury house prices global row Shanghai luxury house price increase is called the crown

(Photo: Hong Kong star Island Daily) Beijing, March 24, according to Hong Kong, "star Island daily" reported that the Hong Kong property market rebounded rapidly last year, with luxury prices rising at a higher level, and a report by an international property consultancy firm in cooperation with the Bank indicated that Hong Kong was the fourth most stable place in 2009, with a 40% per cent increase in prices. In the third place, at the end of last year, the average foot price amounted to 15600 to 19,000 yuan.　　In Shanghai, the rise was the highest in the cities, reaching 52%.　　Monaco ranked first in the global Urban Luxury survey at the end of last year, the second and third in London and Paris, and the fourth in Hong Kong, with an average price of about 15600 to 19500 yuan per square foot, according to the Fortune Report 2010 published by the property consultant, Lai Fong and Citigroup private Bank. In addition, the report shows that prices of luxury homes in major Asian cities recorded a notable increase last year, up from 52% in Shanghai, second in Beijing and 47% in Hong Kong, and a third in HK, with a record of about 40%, reflecting a global rise in luxury flats last year.　　As for Dubai, it fell by 45% per cent. Liam Bailey, head of residential research at Knight Frank, pointed to the polarization of the global luxury market last year. Property prices in most parts of the world continued to fall last year, although the mainland's recovery from the global recession has led to a notable rebound in some Asian cities. While the rise in prices in cities such as Shanghai has won the market, it will be hard to maintain high growth.　　What is more noteworthy is that property prices in Hong Kong have risen from the lows of 2008 and have shown strong performance. The report pointed out that with the inflow of mainland investors to the Hong Kong market, the shortage of luxury flats and the low interest rates, the cost of home purchase increased and the prices of luxury flats rose by 40% in just one year.　　It is expected that the price of luxury flats in Hong Kong will increase by 15% to 18% this year. Xu Zhiwen, a professor of architecture and real estate studies at the Hong Kong Polytechnic University, said as Hong Kong is a tiny place, the price of luxury flats in the world fourth is very satisfactory, but it is worth noting that Hong Kong's GNP has not actually risen with the prices of the flats, reflecting the shortage of luxury homes in Hong Kong, which has led to high rents and trading costs,　　And some Hong Kong luxury buyers have considerable strength to cope with the rising prices of luxury homes. Xu Yu, although Shanghai's property price increase is the first, but the property price ranking has been thrown out of 10, reflecting the local property prices in the international although still low water, but its development potential can not be ignored, materials in the next few years, the local luxury prices continue to rise.