Our price index indicates the price movement of Sun Tuen Mun Centre. We made use of a sophisticated mathematical model and the latest transaction data to ensure that our price index is an accurate reflection of the value of properties of Sun Tuen Mun Centre.
Interpretation
The price index shows change of price of Sun Tuen Mun Centre over 1991 to 2016. A significant increase in price is observed within this period
From 1991 to 1996, the price index increased steadily. However, in 1997, a sudden drop in price index occurred due to the Asian Financial Crisis. During the crisis, the market sentiment was extremely pessimistic and a dramatic and widespread downturn in the real estate market took place.
From the graph, the price index has been fluctuating within the 500 range onwards until 2008. The price hovered at a relatively low level between 2000 – 2003 due to a sluggish economy and the outbreak of SARS. From 2003 onwards, the property market underwent a recovery and the property price has increased steadily. In 2008, the market experienced a slight decline and rebound quickly afterwards despite the Financial Crisis. The price of Sun Tuen Mun Centre exhibited a similar movement.
From 2009 onwards, both the general market price and that of Sun Tuen Mun Centre grew at a much drastic rate. This was due to the 4000 billion stimulus package rolled out by the Chinese government in November 2008. Due to the lower interest rate of Hong Kong and the massive purchasing power of investors in China, many Chinese investors purchased properties in Hong Kong, which resulted in the escalating housing price in Hong Kong ever since.
From 2012, the Hong Kong Government has launched several demand-side policies such as Double Stamp Duties to curb the investment demand and exuberant property market. The effect was temporary and mild. Both Sun Tuen Mun Centre and the general real estate market were not significantly affected by such policies. Limited housing supply and increasing construction costs could be possible reasons of the surging trend of price level.
Details of Price Index
The table contains the data of our price index, which is based on the monthly transaction data of Sun Tuen Mun Centre from EPRC and the statistics released by Rating and Valuation Department.
| Year | Price Index (Sun Tuen Mun Centre) | Price Index (RVD Class B Flats) |
|---|---|---|
| 1991/06 | 100 | - |
| 1991/07 | 110.2039992 | - |
| 1991/08 | 128.2179033 | - |
| 1991/09 | 140.3450714 | - |
| 1991/10 | 146.6488841 | - |
| 1991/11 | 146.4451837 | - |
| 1991/12 | 143.3505725 | - |
| 1992/01 | 145.3019783 | - |
| 1992/02 | 148.4881543 | - |
| 1992/03 | 149.7035771 | - |
| 1992/04 | 154.4011655 | - |
| 1992/05 | 154.9440658 | - |
| 1992/06 | 154.5551802 | - |
| 1992/07 | 154.2332684 | - |
| 1992/08 | 157.9461553 | - |
| 1992/09 | 154.9944308 | - |
| 1992/10 | 146.5886238 | - |
| 1992/11 | 148.9465007 | - |
| 1992/12 | 141.5510155 | - |
| 1993/01 | 147.353312 | 100 |
| 1993/02 | 142.2504428 | 101.6 |
| 1993/03 | 138.5315623 | 103.2 |
| 1993/04 | 137.9110878 | 105 |
| 1993/05 | 140.1090693 | 109 |
| 1993/06 | 141.9328681 | 115.6 |
| 1993/07 | 147.3926606 | 120.5 |
| 1993/08 | 149.0107105 | 120.4 |
| 1993/09 | 144.6838744 | 118.3 |
| 1993/10 | 144.8596273 | 116.1 |
| 1993/11 | 139.833466 | 119.7 |
| 1993/12 | 143.0020815 | 123.2 |
| 1994/01 | 144.6388847 | 133.6 |
| 1994/02 | 143.9288652 | 138.9 |
| 1994/03 | 153.5742535 | 151.2 |
| 1994/04 | 163.5201437 | 144.8 |
| 1994/05 | 168.4059083 | 142.4 |
| 1994/06 | 162.9817426 | 143.5 |
| 1994/07 | 164.507833 | 139 |
| 1994/08 | 162.0471247 | 144.4 |
| 1994/09 | 164.0153771 | 142.2 |
| 1994/10 | 165.0606837 | 143.5 |
| 1994/11 | 160.5804697 | 140.3 |
| 1994/12 | 156.6860601 | 133.9 |
| 1995/01 | 156.588475 | 135.2 |
| 1995/02 | 145.4528801 | 138.3 |
| 1995/03 | 154.9088975 | 138.9 |
| 1995/04 | 157.2859028 | 136.8 |
| 1995/05 | 158.5249804 | 134.6 |
| 1995/06 | 152.6551088 | 130.4 |
| 1995/07 | 148.7504673 | 129.2 |
| 1995/08 | 150.4524648 | 126 |
| 1995/09 | 146.7771112 | 122.5 |
| 1995/10 | 143.0648732 | 121.9 |
| 1995/11 | 140.0376319 | 125.5 |
| 1995/12 | 142.4515848 | 126.3 |
| 1996/01 | 143.980257 | 128.8 |
| 1996/02 | 148.4905301 | 133.6 |
| 1996/03 | 151.5837361 | 140.8 |
| 1996/04 | 156.3514231 | 138.3 |
| 1996/05 | 160.5181766 | 139.6 |
| 1996/06 | 159.5844399 | 141.2 |
| 1996/07 | 165.9398189 | 140.2 |
| 1996/08 | 167.3163256 | 145.8 |
| 1996/09 | 174.164488 | 144.8 |
| 1996/10 | 174.7808994 | 151.7 |
| 1996/11 | 185.9061889 | 157.7 |
| 1996/12 | 200.6305558 | 166.3 |
| 1997/01 | 212.1520397 | 176.6 |
| 1997/02 | 224.5854337 | 190.2 |
| 1997/03 | 262.1241341 | 199.8 |
| 1997/04 | 279.5505643 | 194.1 |
| 1997/05 | 267.8521599 | 213.7 |
| 1997/06 | 289.317351 | 210.3 |
| 1997/07 | 282.3527529 | 205 |
| 1997/08 | 284.5736758 | 209.7 |
| 1997/09 | 279.2516051 | 208 |
| 1997/10 | 269.3689998 | 211.7 |
| 1997/11 | 281.4084538 | 193.1 |
| 1997/12 | 245.2191219 | 188.7 |
| 1998/01 | 214.5063166 | 173.4 |
| 1998/02 | 204.68479 | 165.6 |
| 1998/03 | 214.9927241 | 169.6 |
| 1998/04 | 207.1846006 | 164.1 |
| 1998/05 | 187.6388653 | 155.2 |
| 1998/06 | 166.9798566 | 137.4 |
| 1998/07 | 168.4470043 | 130.3 |
| 1998/08 | 166.6230684 | 128.3 |
| 1998/09 | 154.2280245 | 119.1 |
| 1998/10 | 142.9633332 | 117 |
| 1998/11 | 158.8105823 | 123.5 |
| 1998/12 | 166.9137457 | 129.2 |
| 1999/01 | 168.7170727 | 127.8 |
| 1999/02 | 173.2426453 | 125.1 |
| 1999/03 | 160.7731212 | 125.7 |
| 1999/04 | 165.8781008 | 125.2 |
| 1999/05 | 169.7819872 | 126.8 |
| 1999/06 | 171.2213538 | 124.8 |
| 1999/07 | 154.5231906 | 124.7 |
| 1999/08 | 159.2303962 | 124.6 |
| 1999/09 | 152.7099218 | 119.3 |
| 1999/10 | 149.807807 | 117.7 |
| 1999/11 | 134.4307486 | 116.2 |
| 1999/12 | 141.1744255 | 117.8 |
| 2000/01 | 146.1750953 | 119.9 |
| 2000/02 | 152.8335141 | 120.5 |
| 2000/03 | 153.4229039 | 117.8 |
| 2000/04 | 148.7324696 | 115.4 |
| 2000/05 | 142.3886351 | 110.6 |
| 2000/06 | 137.5593123 | 105.3 |
| 2000/07 | 126.6926641 | 106 |
| 2000/08 | 136.5249233 | 107.1 |
| 2000/09 | 133.6510349 | 108.2 |
| 2000/10 | 134.8957403 | 106.3 |
| 2000/11 | 137.8818537 | 103.4 |
| 2000/12 | 125.5604337 | 100.4 |
| 2001/01 | 127.7299393 | 99 |
| 2001/02 | 117.7026096 | 98.4 |
| 2001/03 | 124.4617184 | 101.2 |
| 2001/04 | 122.8358838 | 100.1 |
| 2001/05 | 124.430358 | 99 |
| 2001/06 | 118.3544796 | 100 |
| 2001/07 | 115.9002823 | 99 |
| 2001/08 | 115.6355212 | 97.3 |
| 2001/09 | 114.6903842 | 95.3 |
| 2001/10 | 110.8027048 | 91.5 |
| 2001/11 | 112.8380027 | 91 |
| 2001/12 | 114.014335 | 91.1 |
| 2002/01 | 108.4492353 | 91.6 |
| 2002/02 | 109.2257876 | 90.7 |
| 2002/03 | 111.648795 | 90.5 |
| 2002/04 | 111.4174754 | 89.4 |
| 2002/05 | 113.5691822 | 90.7 |
| 2002/06 | 108.836438 | 89.3 |
| 2002/07 | 108.5021714 | 87.8 |
| 2002/08 | 110.5913843 | 83.8 |
| 2002/09 | 105.317878 | 83 |
| 2002/10 | 98.44885611 | 79.6 |
| 2002/11 | 98.83029487 | 79.8 |
| 2002/12 | 101.2441763 | 79.8 |
| 2003/01 | 96.85414489 | 78 |
| 2003/02 | 90.05505324 | 78.5 |
| 2003/03 | 95.68037275 | 74.5 |
| 2003/04 | 95.24934963 | 73.6 |
| 2003/05 | 91.47220778 | 72.9 |
| 2003/06 | 85.44194897 | 72.8 |
| 2003/07 | 88.85236623 | 71.7 |
| 2003/08 | 86.63381268 | 72 |
| 2003/09 | 91.77217857 | 74 |
| 2003/10 | 89.74283452 | 76.9 |
| 2003/11 | 94.21771168 | 78.2 |
| 2003/12 | 91.19838476 | 79.2 |
| 2004/01 | 99.8335387 | 84.6 |
| 2004/02 | 99.33303416 | 89.1 |
| 2004/03 | 109.5868281 | 94.8 |
| 2004/04 | 109.3689672 | 97.4 |
| 2004/05 | 104.8645152 | 94 |
| 2004/06 | 108.1039415 | 90.9 |
| 2004/07 | 102.1266986 | 91 |
| 2004/08 | 112.4267823 | 94 |
| 2004/09 | 110.5607547 | 99 |
| 2004/10 | 109.1448813 | 102.3 |
| 2004/11 | 116.7822612 | 100.4 |
| 2004/12 | 115.444649 | 101.6 |
| 2005/01 | 123.9532138 | 103.9 |
| 2005/02 | 115.4748995 | 110 |
| 2005/03 | 123.1013729 | 115.6 |
| 2005/04 | 125.4940298 | 116.2 |
| 2005/05 | 126.5564161 | 116.9 |
| 2005/06 | 124.4347131 | 112.9 |
| 2005/07 | 127.9862948 | 113.4 |
| 2005/08 | 125.5092155 | 115.5 |
| 2005/09 | 126.2006608 | 114.8 |
| 2005/10 | 124.2769056 | 111.3 |
| 2005/11 | 122.198795 | 107.6 |
| 2005/12 | 127.6585582 | 110.1 |
| 2006/01 | 120.0349783 | 111.6 |
| 2006/02 | 110.971253 | 111.8 |
| 2006/03 | 119.2729049 | 112.9 |
| 2006/04 | 119.6243225 | 114.3 |
| 2006/05 | 119.7714311 | 114.5 |
| 2006/06 | 124.5665593 | 112.4 |
| 2006/07 | 117.5458166 | 112.2 |
| 2006/08 | 117.9663231 | 112.5 |
| 2006/09 | 119.2311667 | 112.9 |
| 2006/10 | 112.8680216 | 112.5 |
| 2006/11 | 115.7271408 | 112.1 |
| 2006/12 | 113.3663019 | 112.7 |
| 2007/01 | 115.8557851 | 114.9 |
| 2007/02 | 107.8411365 | 116.4 |
| 2007/03 | 113.598714 | 117.3 |
| 2007/04 | 113.6037125 | 117.8 |
| 2007/05 | 114.1553438 | 120.4 |
| 2007/06 | 115.6214145 | 121.5 |
| 2007/07 | 122.0855692 | 123.2 |
| 2007/08 | 118.2671663 | 124.2 |
| 2007/09 | 121.555772 | 126 |
| 2007/10 | 122.7007159 | 129 |
| 2007/11 | 127.8834351 | 133.8 |
| 2007/12 | 130.1285992 | 139.2 |
| 2008/01 | 138.6626751 | 145.4 |
| 2008/02 | 141.486483 | 148.1 |
| 2008/03 | 144.9356986 | 148.8 |
| 2008/04 | 147.9217157 | 147 |
| 2008/05 | 149.371305 | 149.2 |
| 2008/06 | 151.7794053 | 149.3 |
| 2008/07 | 149.992334 | 148.3 |
| 2008/08 | 149.712859 | 146 |
| 2008/09 | 150.5929025 | 145.1 |
| 2008/10 | 145.1615392 | 136.2 |
| 2008/11 | 127.137501 | 125 |
| 2008/12 | 124.9829323 | 125.5 |
| 2009/01 | 130.0664126 | 127.9 |
| 2009/02 | 135.7490806 | 128.9 |
| 2009/03 | 132.399807 | 131 |
| 2009/04 | 134.882656 | 135.3 |
| 2009/05 | 140.1715719 | 139.5 |
| 2009/06 | 144.4086584 | 144.3 |
| 2009/07 | 154.2466872 | 147.4 |
| 2009/08 | 157.6239584 | 150.4 |
| 2009/09 | 159.4404002 | 153.9 |
| 2009/10 | 166.3748185 | 155.6 |
| 2009/11 | 166.440716 | 156.2 |
| 2009/12 | 163.149374 | 159.2 |
| 2010/01 | 172.8980624 | 163.1 |
| 2010/02 | 177.1975454 | 165.6 |
| 2010/03 | 176.2663469 | 168.8 |
| 2010/04 | 182.769023 | 172.6 |
| 2010/05 | 185.4614764 | 171.8 |
| 2010/06 | 188.0566385 | 173.2 |
| 2010/07 | 196.966209 | 178 |
| 2010/08 | 199.7712948 | 182.2 |
| 2010/09 | 206.254777 | 184 |
| 2010/10 | 211.0493909 | 188.1 |
| 2010/11 | 213.4289917 | 192.6 |
| 2010/12 | 211.9561017 | 190.8 |
| 2011/01 | 223.0714639 | 198.9 |
| 2011/02 | 230.0425257 | 207 |
| 2011/03 | 231.995317 | 210.5 |
| 2011/04 | 237.9411052 | 214.6 |
| 2011/05 | 243.6099026 | 218.2 |
| 2011/06 | 254.4962716 | 220.8 |
| 2011/07 | 234.595132 | 218.1 |
| 2011/08 | 233.8393137 | 217 |
| 2011/09 | 239.4245141 | 218.6 |
| 2011/10 | 237.9520508 | 214.5 |
| 2011/11 | 240.650864 | 214.5 |
| 2011/12 | 233.0982844 | 212.7 |
| 2012/01 | 236.4425323 | 211.4 |
| 2012/02 | 238.9645432 | 215.1 |
| 2012/03 | 250.8700776 | 224.6 |
| 2012/04 | 261.2950389 | 232.6 |
| 2012/05 | 265.4369102 | 237.3 |
| 2012/06 | 272.1447751 | 239.4 |
| 2012/07 | 261.345735 | 239.9 |
| 2012/08 | 284.1593539 | 245.5 |
| 2012/09 | 298.1668371 | 253.5 |
| 2012/10 | 315.9519629 | 259.9 |
| 2012/11 | 297.4470381 | 263.1 |
| 2012/12 | 300.647411 | 265.7 |
| 2013/01 | 329.9038294 | 271.3 |
| 2013/02 | 344.1667182 | 280.6 |
| 2013/03 | 340.7251655 | 280.6 |
| 2013/04 | 336.7097172 | 279.7 |
| 2013/05 | 338.4506143 | 281.4 |
| 2013/06 | 358.6213821 | 284.9 |
| 2013/07 | 355.1663197 | 286.7 |
| 2013/08 | 337.3062212 | 287.7 |
| 2013/09 | 355.4761598 | 286.1 |
| 2013/10 | 365.1207738 | 286.1 |
| 2013/11 | 352.0890709 | 285.6 |
| 2013/12 | 353.7548595 | 285.4 |
| 2014/01 | 348.7918012 | 284.3 |
| 2014/02 | 330.8814605 | 283.4 |
| 2014/03 | 350.5660683 | 282.4 |
| 2014/04 | 360.4434886 | 284.5 |
| 2014/05 | 366.0782784 | 287.6 |
| 2014/06 | 366.918659 | 291 |
| 2014/07 | 366.0654659 | 298.8 |
| 2014/08 | 391.1664552 | 304.8 |
| 2014/09 | 399.4630163 | 311.3 |
| 2014/10 | 413.6897042 | 316 |
| 2014/11 | 417.7838469 | 320.3 |
| 2014/12 | 437.9120915 | 325.5 |
| 2015/01 | 443.8244876 | 333 |
| 2015/02 | 450.6149412 | 341.8 |
| 2015/03 | 467.0849683 | 341.8 |
| 2015/04 | 456.7536498 | 349.1 |
| 2015/05 | 482.803716 | 350.6 |
| 2015/06 | 488.6840597 | 353.6 |
| 2015/07 | 506.1313325 | 356.7 |
| 2015/08 | 485.9993012 | 358.1 |
| 2015/09 | 494.2182326 | 358.5 |
| 2015/10 | 469.9960009 | 354.6 |
| 2015/11 | 467.5588326 | 342.7 |
| 2015/12 | 434.5652847 | 334.3 |
| 2016/01 | 410.2268035 | 327.2 |
| 2016/02 | 443.1397513 | 321.5252153 |
| 2016/03 | 420.1476453 | 317.8351784 |
| 2016/04 | 432.7547568 | 319.6801968 |
| 2016/05 | 420.5339385 | 323.2472325 |
| 2016/06 | 396.9678067 | 323.6162362 |
| 2016/07 | 430.8315533 | 330.2583026 |
| 2016/08 | 450.6694689 | 337.1463715 |
| 2016/09 | 450.6694689 |