October 12, 2018 2018g03

Price Index

Chart by Visualizer

 

Interpreting the Price Trend of City Garden

Generally, City Garden is experiencing an increasing price trend from 1991 to 2018. A decreasing trend from 1998 to 2003 is observed. It is noted that a substantial drop occurred in 1995, 1998, 2003 and 2008, while peaks are seen in 1997 and 2007. In the macroeconomics points of view, housing price is driven by demand and supply.

 

Small drop in 1995

U.S. Federal Reserve raised the interest rate by 3% in 1995. Due to the US linked exchange rate system, Hong Kong followed US adjustment. The Hong Kong prime rate increased from 6.5% to 9%, which discouraged investors in the housing market. Hence, the price trend of City Garden decreased gradually from 1994 to 1995.

 

Peak at 1997

Asian Financial Crisis in 1997 has substantially affected the economy of Hong Kong. Speculative activities were very prosperous, which lead to a rise in housing price. The rising housing market has lead to an increase in investors. The transaction volume of City Garden was at a high level, with more than 360 transactions in 1997. When looking at the information of assignee, it is discovered that more than 25% of the buyers were limited companies, and some of the buyers bought more than one property in City Garden. Hence, investment activities has induced a surge in property price in City Garden.

 

Drop from 1998 to 2003

After the Asian Financial Crisis, housing price dropped dramatically. Transaction volume of City Garden dropped by half in 1998 comparing to the peak at 1997. The mortgage rate increase sharply from 1998 to 1999, until it reached the peak at 1999 and declined from 1999 to 2002. This trend can be shown by the steep decrease from 1998 to 1999 and the gradual decrease from 1999 to 2002. The outbreak of SARS in 2003 has reduced people’s confidence in the housing market, which inevitably incur a further decline in housing price of CIty Garden.

 

A Small Rise and Drop at 2008

The quantitative easing policy adopted by the US in 2008 has generated hot money into the Hong Kong market. Hence, leading to a very low interest rate level and boost the housing market in Hong Kong. However, global financial crisis in 2008 has induced negative impacts on housing market in Hong Kong, and lead to the drop in late 2008 to early 2009. The price trend of City Garden was inevitably affected by the general housing price trend in Hong Kong.

 

You may search for the price index of a specific month below!

Year and MonthPrice Index
1991m04100.00
1991m0596.88
1991m06101.74
1991m07103.91
1991m08113.20
1991m09118.35
1991m10122.30
1991m11122.07
1991m12120.71
1992m01129.66
1992m02132.26
1992m03139.22
1992m04146.66
1992m05145.84
1992m06150.29
1992m07149.46
1992m08149.70
1992m09150.57
1992m10153.18
1992m11147.59
1992m12147.02
1993m01144.63
1993m02146.40
1993m03147.33
1993m04151.85
1993m05152.97
1993m06157.69
1993m07163.38
1993m08161.83
1993m09165.54
1993m10165.77
1993m11166.55
1993m12168.99
1994m01176.82
1994m02186.40
1994m03194.54
1994m04201.67
1994m05194.56
1994m06190.87
1994m07193.02
1994m08191.62
1994m09194.53
1994m10191.89
1994m11189.17
1994m12186.90
1995m01183.28
1995m02179.41
1995m03185.81
1995m04185.20
1995m05188.22
1995m06176.35
1995m07173.59
1995m08172.10
1995m09167.29
1995m10166.45
1995m11167.96
1995m12169.45
1996m01171.62
1996m02172.08
1996m03178.55
1996m04180.55
1996m05185.07
1996m06183.74
1996m07186.57
1996m08186.02
1996m09184.70
1996m10187.02
1996m11190.07
1996m12194.54
1997m01196.86
1997m02205.15
1997m03206.87
1997m04208.58
1997m05209.25
1997m06215.54
1997m07218.30
1997m08211.23
1997m09218.21
1997m10219.17
1997m11208.02
1997m12202.34
1998m01203.93
1998m02192.25
1998m03194.77
1998m04191.21
1998m05182.29
1998m06170.55
1998m07169.99
1998m08162.96
1998m09154.01
1998m10162.58
1998m11163.03
1998m12165.16
1999m01163.51
1999m02166.70
1999m03165.79
1999m04165.56
1999m05169.90
1999m06168.19
1999m07166.23
1999m08162.76
1999m09161.63
1999m10160.00
1999m11158.57
1999m12160.22
2000m01159.87
2000m02158.76
2000m03160.18
2000m04159.35
2000m05155.35
2000m06152.02
2000m07153.08
2000m08150.75
2000m09150.95
2000m10151.12
2000m11146.32
2000m12145.77
2001m01144.52
2001m02146.56
2001m03139.79
2001m04141.32
2001m05141.97
2001m06138.29
2001m07138.95
2001m08134.16
2001m09134.94
2001m10128.69
2001m11132.03
2001m12130.31
2002m01128.42
2002m02123.37
2002m03132.45
2002m04129.15
2002m05125.19
2002m06124.85
2002m07126.00
2002m08129.69
2002m09124.18
2002m10118.97
2002m11114.77
2002m12120.25
2003m01122.29
2003m02119.19
2003m03120.98
2003m04104.99
2003m05112.79
2003m06115.88
2003m07104.46
2003m08106.54
2003m09115.42
2003m10120.09
2003m11125.36
2003m12125.84
2004m01134.83
2004m02137.19
2004m03149.66
2004m04152.18
2004m05144.83
2004m06148.88
2004m07151.89
2004m08155.82
2004m09156.03
2004m10161.75
2004m11164.02
2004m12165.61
2005m01163.91
2005m02166.37
2005m03168.42
2005m04171.98
2005m05175.09
2005m06170.78
2005m07170.30
2005m08170.87
2005m09167.27
2005m10172.90
2005m11175.38
2005m12160.81
2006m01165.44
2006m02172.81
2006m03169.54
2006m04171.93
2006m05171.79
2006m06172.47
2006m07162.53
2006m08167.16
2006m09169.02
2006m10164.93
2006m11171.76
2006m12171.55
2007m01170.37
2007m02170.60
2007m03175.32
2007m04174.05
2007m05173.55
2007m06172.62
2007m07180.30
2007m08181.94
2007m09180.85
2007m10182.43
2007m11187.78
2007m12193.87
2008m01202.23
2008m02200.36
2008m03204.46
2008m04202.79
2008m05204.20
2008m06203.99
2008m07202.44
2008m08192.89
2008m09194.92
2008m10195.06
2008m11177.88
2008m12180.73
2009m01173.62
2009m02188.33
2009m03178.64
2009m04186.51
2009m05191.09
2009m06192.91
2009m07195.95
2009m08203.67
2009m09206.26
2009m10202.59
2009m11208.97
2009m12209.70
2010m01210.96
2010m02211.41
2010m03214.69
2010m04210.75
2010m05215.69
2010m06214.50
2010m07213.74
2010m08220.77
2010m09217.59
2010m10223.12
2010m11221.32
2010m12225.35
2011m01224.47
2011m02227.95
2011m03232.54
2011m04230.39
2011m05231.81
2011m06229.62
2011m07231.13
2011m08225.23
2011m09228.70
2011m10230.02
2011m11225.50
2011m12226.50
2012m01223.74
2012m02222.58
2012m03233.95
2012m04233.99
2012m05232.66
2012m06228.12
2012m07236.43
2012m08235.75
2012m09235.65
2012m10248.00
2012m11240.47
2012m12242.26
2013m01237.88
2013m02240.89
2013m03245.15
2013m04242.50
2013m05243.65
2013m06235.54
2013m07243.53
2013m08251.53
2013m09225.79
2013m10240.86
2013m11239.35
2013m12237.85
2014m01237.54
2014m02237.24
2014m03236.93
2014m04246.60
2014m05240.83
2014m06239.36
2014m07248.02
2014m08244.84
2014m09247.11
2014m10237.18
2014m11254.03
2014m12252.64
2015m01252.39
2015m02247.04
2015m03243.48
2015m04252.67
2015m05257.46
2015m06262.25
2015m07228.56
2015m08263.18
2015m09245.51
2015m10241.04
2015m11252.12
2015m12253.93
2016m01247.40
2016m02252.52
2016m03244.53
2016m04252.84
2016m05250.22
2016m06248.29
2016m07241.66
2016m08249.56
2016m09258.32
2016m10256.50
2016m11253.24
2016m12251.56
2017m01249.96
2017m02256.45
2017m03253.20
2017m04264.79
2017m05264.40
2017m06265.57
2017m07267.10
2017m08256.66
2017m09267.90
2017m10262.74
2017m11264.90
2017m12262.71
2018m01272.54
2018m02269.93
2018m03270.90
2018m04276.50
2018m05282.03
2018m06280.32
2018m07285.33
2018m08281.66

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