November 15, 2017

PRICE INDEX

Interpretation

The price index of Tai Hing Gardens is compared to RVD Price Index (Class A), RVD Price Index (Class B) and RVD Price Index for all. The price index of Tai Hing Gardens and the RVD index can be retrieved since May 1991.

All indices show an overall increase in the value over the assessment period. Since early 1990s, an increasing trend can be observed in all indices until they peaked in May 1997. The price indices showed a significant decrease due to Asian Financial Crisis which started in 1997. Under the effect of its aftermath, the fall continued and reached the bottom in May 2003 because of the outbreak of Severe Acute Respiratory Syndrome (SARS) in Hong Kong. The trend reversed after that as the implementation of Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA) and Individual Visit Scheme came into play in 2003. These measures gave an impulse to Hong Kong economy and a rising trend is shown in the price indices. The trend has sustained until 2008 when the first fluctuation took place. The price went down during the period from July 2008 to November 2008, because of Financial Tsunami. Then, the price indices went up again with a higher rate and surpassed the peak between the period from January 2011 to June 2011. They came up against another downturn in 2016 but soon recovered the upward thrust. As for August 2017, the price indices arrived at their peak over the period.

All in all, the price indices show similar patterns while differences can be observed in the value and volatility. The difference lies in the price index values. The values in Tai Hing Gardens Price Index is generally lower than those in all the RVD indices probably due to the poor location of the estates. It is located in the remote area of the New Territories, and far away from the Central Business District. Though Light Railway is available, the travelling distance is still considered inconvenient for residents which could be one of the possible reasons for its price index to be lower than that of RVD indexes. It is worth noting that the difference is getting larger since 2010 because the estate is becoming older that needs continuous and substantial maintenance, and in comparison with the newly completed estates, the Tai Hing Gardens is less attractive because of the less modern design and the smaller varieties of facilities provided. Therefore, the price index of Tai Hing Gardens is not as high as those RVD indices.

 

Price Index (May 1991 – Aug 2017)

The table below shows the price indices generated based on the past transaction records of Tai Hing Gardens, Private Domestic Price Indices of Rating and Valuation Department (RVD) (Class A, Class B and All), starting from May 1991 to August 2017.
(PI = 100 x (1 + coefficient))


Tai Hing Gardens' Price IndexRVD Class ARVD Class BRVD ALL
May, 1991100100100100
June, 199193.4496100100100
July, 1991106.7056116.25615763547117.69087523277100
August, 1991111.8471116.25615763547117.69087523277112.90322580645
September, 1991129.1709116.25615763547117.69087523277112.90322580645
October, 1991131.1382130.04926108374131.09869646182112.90322580645
November, 1991129.1345130.04926108374131.09869646182132.0564516129
December, 1991128.7657130.04926108374131.09869646182132.0564516129
January, 1992132.5643141.21510673235142.83054003724132.0564516129
February, 1992138.0623141.21510673235142.83054003724147.58064516129
March, 1992140.6765141.21510673235142.83054003724147.58064516129
April, 1992141.9519151.55993431856156.98324022346147.58064516129
May, 1992145.5724151.55993431856156.98324022346160.48387096774
June, 1992143.3517151.55993431856156.98324022346160.48387096774
July, 1992143.5309155.50082101806161.0800744879160.48387096774
August, 1992149.1513155.50082101806161.0800744879175
September, 1992140.328155.50082101806161.0800744879175
October, 1992136.5199150.4105090312153.6312849162175
November, 1992141.8341150.4105090312153.6312849162178.83064516129
December, 1992131.7971148.44006568144151.39664804469178.83064516129
January, 1993127.2737148.60426929392153.81750465549178.83064516129
February, 1993127.2015148.11165845649156.23836126629172.78225806452
March, 1993133.0425151.88834154351159.03165735568172.78225806452
April, 1993135.6066157.47126436782164.99068901304172.78225806452
May, 1993132.8788161.41215106732175.04655493482170.16129032258
June, 1993143.7307164.36781609195182.49534450652171.77419354839
July, 1993139.21165.84564860427182.30912476723172.78225806452
August, 1993138.1692165.35303776683179.14338919926176.41129032258
September, 1993146.4383160.59113300493175.79143389199182.86290322581
October, 1993129.3781163.38259441708181.19180633147191.33064516129
November, 1993134.1443167.81609195402186.59217877095197.78225806452
December, 1993139.0245174.54844006568202.23463687151198.18548387097
January, 1994139.8874180.45977011494210.24208566108196.16935483871
February, 1994141.885188.013136289228.86405959032192.54032258065
March, 1994145.7587191.95402298851219.18063314711197.17741935484
April, 1994143.8959188.50574712644215.64245810056203.22580645161
May, 1994146.235187.35632183908217.31843575419217.13709677419
June, 1994148.3696186.3711001642210.42830540037225
July, 1994147.2212191.62561576355218.62197392924240.72580645161
August, 1994157.5329190.64039408867215.27001862197238.3064516129
September, 1994160.6991191.29720853859217.31843575419233.87096774194
October, 1994159.2517189.98357963875212.47672253259234.07258064516
November, 1994163.8148180.95238095238202.79329608939229.43548387097
December, 1994162.545180.45977011494204.65549348231237.29838709677
January, 1995159.7043187.02791461412209.31098696462234.47580645161
February, 1995156.144187.52052545156210.24208566108235.48387096774
March, 1995155.6245188.34154351396207.07635009311232.25806451613
April, 1995154.6166181.93760262726203.72439478585221.97580645161
May, 1995156.5975181.28078817734197.39292364991221.77419354839
June, 1995152.5065178.16091954023195.53072625698226.61290322581
July, 1995144.2798177.33990147783190.68901303538228.42741935484
August, 1995139.8898171.59277504105185.4748603352227.21774193548
September, 1995141.9632169.95073891626184.54376163873221.97580645161
October, 1995142.5102173.07060755337189.94413407821218.14516129032
November, 1995144.9437174.54844006568191.24767225326214.51612903226
December, 1995154.1232175.53366174056194.97206703911211.6935483871
January, 1996158.7414179.14614121511202.23463687151204.83870967742
February, 1996157.7908184.23645320197213.22160148976203.22580645161
March, 1996163.615184.07224958949209.31098696462208.06451612903
April, 1996159.9377186.04269293924211.35940409683209.47580645161
May, 1996159.7086188.34154351396213.78026070763212.09677419355
June, 1996161.6553189.49096880131212.2905027933218.75
July, 1996163.0323191.78981937603220.67039106145227.41935483871
August, 1996163.886195.40229885057219.18063314711226.00806451613
September, 1996169.8945200.98522167488229.60893854749228.83064516129
October, 1996171.1577208.70279146141238.73370577281231.85483870968
November, 1996181.1334217.5697865353251.76908752328231.04838709677
December, 1996194.5141226.4367816092267.41154562384236.6935483871
January, 1997207.024248.11165845649287.895716946238.3064516129
February, 1997231.6213263.71100164204302.4208566108248.18548387097
March, 1997247.6349253.69458128079293.85474860335258.06451612903
April, 1997239.1999278.32512315271323.46368715084271.16935483871
May, 1997257.4789280.7881773399318.43575418994287.70161290323
June, 1997258.7244271.10016420361310.42830540037311.08870967742
July, 1997256.9881277.17569786535317.50465549348327.01612903226
August, 1997260.6346279.47454844007314.89757914339316.53225806452
September, 1997260.6715280.95238095238320.48417132216347.37903225806
October, 1997259.3898264.69622331691292.36499068901346.77419354839
November, 1997233.5723255.1724137931285.66108007449337.09677419355
December, 1997229.8308238.4236453202262.56983240223344.95967741935
January, 1998189.8676227.42200328407250.65176908752343.34677419355
February, 1998200.462230.54187192118256.79702048417348.58870967742
March, 1998191.7447222.49589490969248.41713221601323.58870967742
April, 1998185.3302212.47947454844235.00931098696312.5
May, 1998169.0117187.1921182266208.00744878957289.71774193548
June, 1998163.9015180.95238095238197.20670391061275.40322580645
July, 1998162.8296174.54844006568194.22718808194279.63709677419
August, 1998160.6379164.86042692939180.26070763501270.76612903226
September, 1998155.2005158.62068965517177.09497206704257.25806451613
October, 1998160.881165.35303776683186.96461824953226.81451612903
November, 1998167.953172.41379310345195.53072625698217.74193548387
December, 1998173.9578170.60755336617193.48230912477210.68548387097
January, 1999178.3501169.12972085386189.38547486034198.58870967742
February, 1999170.4815168.14449917898190.3165735568192.74193548387
March, 1999170.2509168.63711001642189.57169459963202.21774193548
April, 1999171.7384169.29392446634191.99255121043210.88709677419
May, 1999166.6408169.6223316913189.01303538175209.27419354839
June, 1999174.3066167.15927750411188.82681564246205.64516129032
July, 1999161.9244163.05418719212188.64059590317205.04032258065
August, 1999159.0808158.94909688013180.63314711359205.64516129032
September, 1999156.5774156.8144499179178.21229050279207.45967741935
October, 1999155.2446153.03776683087175.97765363128206.25
November, 1999154.9652155.82922824302178.39851024209204.83870967742
December, 1999159.3355158.62068965517181.56424581006202.62096774194
January, 2000160.698157.96387520525182.49534450652195.76612903226
February, 2000160.0375153.03776683087178.39851024209193.14516129032
March, 2000151.0781151.72413793103174.67411545624190.12096774194
April, 2000147.2202146.14121510673167.41154562384192.9435483871
May, 2000147.9728138.75205254516159.40409683426196.57258064516
June, 2000147.8195141.21510673235160.52141527002196.57258064516
July, 2000145.0941141.21510673235162.19739292365192.13709677419
August, 2000146.8848143.51395730706163.87337057728189.31451612903
September, 2000152.6568142.03612479475160.8938547486182.0564516129
October, 2000144.1897133.49753694581156.61080074488173.38709677419
November, 2000144.2232131.69129720854151.95530726257174.59677419355
December, 2000135.613129.55665024631149.90689013035175.8064516129
January, 2001138.1595129.22824302135148.97579143389177.82258064516
February, 2001141.4744132.18390804598153.25884543762175.40322580645
March, 2001143.5015134.48275862069151.58286778399168.75
April, 2001142.5795129.72085385878149.90689013035164.91935483871
May, 2001143.6692129.22824302135151.39664804469162.70161290323
June, 2001143.4476129.22824302135149.90689013035161.6935483871
July, 2001142.3053125.94417077176147.29981378026165.52419354839
August, 2001137.1133124.63054187192144.32029795158165.72580645161
September, 2001141.9738119.37602627258138.54748603352162.29838709677
October, 2001134.1545118.06239737274137.80260707635163.10483870968
November, 2001136.5449118.71921182266137.98882681564161.6935483871
December, 2001136.1972119.2118226601138.73370577281158.26612903226
January, 2002139.7585120.52545155993137.24394785847155.64516129032
February, 2002138.1406118.06239737274137.05772811918149.39516129032
March, 2002141.7118115.59934318555135.38175046555148.38709677419
April, 2002136.8359113.95730706076137.24394785847148.79032258065
May, 2002140.3128113.95730706076135.19553072626149.39516129032
June, 2002134.8227113.30049261084132.96089385475148.99193548387
July, 2002133.9073109.85221674877126.8156424581147.78225806452
August, 2002127.6048105.25451559934125.69832402235145.76612903226
September, 2002123.7191105.09031198686120.48417132216145.96774193548
October, 2002133.5439103.28407224959120.85661080074144.95967741935
November, 2002132.2514102.95566502463120.85661080074142.9435483871
December, 2002130.9558100.98522167488118.06331471136137.70161290323
January, 2003121.2225100.16420361248118.80819366853134.47580645161
February, 2003124.578998.522167487685112.84916201117131.85483870968
March, 2003131.333797.536945812808111.35940409683131.25
April, 2003121.755395.566502463054110.42830540037130.64516129032
May, 2003118.161494.088669950739110.24208566108128.22580645161
June, 2003129.56492.939244663383108.56610800745127.82258064516
July, 2003125.250493.267651888342108.93854748603123.38709677419
August, 2003126.932997.044334975369112.104283054121.97580645161
September, 2003125.331100.65681444992116.38733705773120.36290322581
October, 2003123.9167101.97044334975118.43575418994119.5564516129
November, 2003134.6281103.77668308703119.92551210428117.74193548387
December, 2003134.213109.03119868637128.11918063315118.14516129032
January, 2004137.6299113.6288998358134.82309124767122.78225806452
February, 2004140.3613119.70443349754143.57541899441127.82258064516
March, 2004146.0894120.52545155993147.48603351955129.63709677419
April, 2004151.4176119.54022988506142.27188081937131.85483870968
May, 2004146.8976114.44991789819137.61638733706140.12096774194
June, 2004147.9292114.94252873563137.80260707635147.58064516129
July, 2004146.05120.0328407225142.27188081937157.45967741935
August, 2004148.3722122.66009852217149.90689013035160.08064516129
September, 2004147.0583127.42200328407154.93482309125156.25
October, 2004148.3482124.63054187192151.95530726257150.60483870968
November, 2004152.983125.45155993432153.81750465549151.00806451613
December, 2004149.3009129.06403940887157.35567970205156.45161290323
January, 2005152.1023133.99014778325166.48044692737163.10483870968
February, 2005153.7149143.84236453202175.04655493482169.5564516129
March, 2005158.2453145.32019704433175.97765363128166.73387096774
April, 2005156.2108143.1855500821176.90875232775167.9435483871
May, 2005160.0606141.05090311987170.94972067039172.78225806452
June, 2005153.2298139.40886699507171.69459962756180.24193548387
July, 2005154.1287141.70771756979174.86033519553190.72580645161
August, 2005161.0679142.3645320197173.74301675978192.33870967742
September, 2005155.7657140.88669950739168.52886405959192.13709677419
October, 2005163.6021135.46798029557162.94227188082187.29838709677
November, 2005152.8382137.43842364532166.66666666667187.09677419355
December, 2005156.6074138.09523809524168.90130353818189.31451612903
January, 2006157.8538138.4236453202169.27374301676189.51612903226
February, 2006155.2787142.20032840722170.94972067039185.08064516129
March, 2006153.3299142.20032840722172.99813780261178.42741935484
April, 2006158.9795143.84236453202173.37057728119181.65322580645
May, 2006159.4694141.21510673235170.20484171322183.06451612903
June, 2006155.4628140.72249589491169.83240223464183.66935483871
July, 2006153.6737143.34975369458170.39106145251186.6935483871
August, 2006156.5364143.84236453202170.94972067039188.3064516129
September, 2006154.8066143.34975369458170.39106145251189.51612903226
October, 2006151.9996143.51395730706169.64618249534186.08870967742
November, 2006152.9091145.15599343186170.57728119181185.28225806452
December, 2006156.3696146.79802955665173.92923649907187.5
January, 2007152.7334149.42528735632176.16387337058188.10483870968
February, 2007152.781153.20197044335177.65363128492187.70161290323
March, 2007159.1773154.51559934319178.39851024209187.5
April, 2007155.5887156.8144499179182.30912476723189.11290322581
May, 2007160.1528158.62068965517183.98510242086191.93548387097
June, 2007160.0937160.26272577997186.59217877095194.75806451613
July, 2007158.1734162.3973727422188.08193668529197.37903225806
August, 2007161.2055164.20361247947190.68901303538198.99193548387
September, 2007160.2562170.11494252874195.34450651769202.62096774194
October, 2007166.1252178.81773399015202.60707635009204.83870967742
November, 2007174.3289185.22167487685210.80074487896207.25806451613
December, 2007176.0356195.2380952381220.11173184358209.67741935484
January, 2008184.0294199.83579638752224.20856610801212.29838709677
February, 2008189.5793201.64203612479225.32588454376218.75
March, 2008190.1819199.1789819376222.53258845438228.42741935484
April, 2008190.3623201.64203612479225.88454376164237.70161290323
May, 2008190.9993202.29885057471226.07076350093248.38709677419
June, 2008197.3409198.85057471264224.58100558659253.02419354839
July, 2008187.4488196.05911330049221.04283054004254.83870967742
August, 2008188.6466194.90968801314219.73929236499251.41129032258
September, 2008178.0036184.89326765189206.14525139665254.83870967742
October, 2008167.2722171.10016420361189.19925512104255.24193548387
November, 2008167.24170.77175697865189.94413407821251.81451612903
December, 2008168.6682174.22003284072193.66852886406247.78225806452
January, 2009171.9311175.36945812808195.1582867784245.76612903226
February, 2009175.1177177.01149425287198.32402234637230.4435483871
March, 2009178.1194185.05747126437204.8417132216211.49193548387
April, 2009182.0336189.32676518883211.17318435754211.29032258065
May, 2009186.689196.88013136289218.43575418994215.92741935484
June, 2009194.1832202.46305418719223.09124767225217.33870967742
July, 2009197.5178207.55336617406227.74674115456220.16129032258
August, 2009201.7096210.83743842365232.96089385475228.62903225806
September, 2009207.0831214.77832512315235.56797020484235.28225806452
October, 2009205.3607215.92775041051236.4990689013244.15322580645
November, 2009206.5739220.36124794745240.96834264432250.20161290323
December, 2009212.5286227.09359605911246.92737430168256.85483870968
January, 2010219.0901232.18390804598250.65176908752261.89516129032
February, 2010222.7087235.79638752053255.49348230912265.52419354839
March, 2010227.1892241.70771756979261.26629422719266.73387096774
April, 2010230.4407240.88669950739260.14897579143271.57258064516
May, 2010228.9497243.02134646962262.19739292365278.83064516129
June, 2010233.7978251.39573070608269.45996275605283.66935483871
July, 2010243.0449257.6354679803275.79143389199289.11290322581
August, 2010241.4738258.45648604269278.58472998138295.56451612903
September, 2010244.1361267.9802955665284.72998137803293.95161290323
October, 2010251.9098273.5632183908291.62011173184296.16935483871
November, 2010248.8075274.22003284072288.82681564246305.04032258065
December, 2010260.5345285.55008210181301.11731843575312.29838709677
January, 2011267.6373297.86535303777313.40782122905314.71774193548
February, 2011273.4781303.77668308703318.62197392924322.98387096774
March, 2011277.8921310.83743842365324.95344506518330.04032258065
April, 2011277.5493313.79310344828330.35381750466328.62903225806
May, 2011284.0362317.73399014778334.2644320298341.73387096774
June, 2011278.2487311.986863711330.16759776536355.64516129032
July, 2011273.7688311.65845648604328.49162011173361.89516129032
August, 2011271.2366313.30049261084330.91247672253369.5564516129
September, 2011273.8738310.67323481117324.76722532588374.79838709677
October, 2011273.2275306.89655172414324.76722532588379.23387096774
November, 2011268.8853306.23973727422321.9739292365373.99193548387
December, 2011269.3255304.7619047619320.11173184358371.97580645161
January, 2012278.712314.12151067323325.69832402235374.1935483871
February, 2012290.7594330.70607553366340.03724394786369.35483870968
March, 2012298.2192341.37931034483352.14152700186366.93548387097
April, 2012306.888350.57471264368359.21787709497365.12096774194
May, 2012307.6997353.69458128079362.38361266294362.5
June, 2012308.8516356.97865353038363.12849162011370.56451612903
July, 2012318.2566366.33825944171371.69459962756387.5
August, 2012332.3957380.95238095238383.79888268156400.20161290323
September, 2012337.0519392.93924466338393.48230912477409.67741935484
October, 2012336.4188395.89490968801398.32402234637413.50806451613
November, 2012343.2285398.68637110016402.23463687151415.52419354839
December, 2012353.4247408.53858784893410.80074487896425
January, 2013362.4024422.00328407225424.76722532588439.11290322581
February, 2013363.5593422.00328407225424.76722532588451.00806451613
March, 2013361.5594421.34646962233423.46368715084455.4435483871
April, 2013365.9563423.64532019704426.07076350093458.87096774194
May, 2013369.416429.39244663383431.28491620112468.75
June, 2013380.5433432.67651888342434.0782122905483.87096774194
July, 2013366.7201435.13957307061435.56797020484483.66935483871
August, 2013368.5726433.82594417077433.14711359404482.66129032258
September, 2013377.157433.99014778325433.14711359404485.48387096774
October, 2013367.6852433.49753694581432.40223463687490.52419354839
November, 2013366.3904433.33333333333432.02979515829494.15322580645
December, 2013362.8924433.33333333333430.35381750466496.57258064516
January, 2014364.7284433.16912972085429.05027932961494.95967741935
February, 2014375.9567433.00492610837427.56052141527494.75806451613
March, 2014370.4729434.97536945813430.72625698324493.95161290323
April, 2014372.1269439.90147783251435.38175046555494.15322580645
May, 2014394.7055445.32019704433440.59590316574493.34677419355
June, 2014390.9107457.30706075534452.32774674115492.54032258065
July, 2014399.4526465.68144499179461.45251396648491.33064516129
August, 2014406.8933475.04105090312471.32216014898493.95161290323
September, 2014412.1408483.41543513957478.39851024209498.79032258065
October, 2014410.1582491.13300492611484.91620111732504.63709677419
November, 2014428.0073499.1789819376492.7374301676516.93548387097
December, 2014436.0245511.82266009852504.09683426443526.61290322581
January, 2015460.3701523.64532019704517.50465549348536.89516129032
February, 2015458.3277523.64532019704517.50465549348545.36290322581
March, 2015453.1461535.46798029557528.49162011173552.62096774194
April, 2015473.9256538.75205254516530.72625698324561.08870967742
May, 2015467.0423543.51395730706535.38175046555573.79032258065
June, 2015476.6945550.24630541872540.03724394786587.70161290323
July, 2015478.8679553.53037766831542.08566108007587.70161290323
August, 2015474.0902555.33661740558542.83054003724599.59677419355
September, 2015459.6667549.26108374384536.87150837989602.41935483871
October, 2015471.0021536.28899835796518.80819366853607.45967741935
November, 2015444.2328515.59934318555506.14525139665613.10483870968
December, 2015436.0776505.5829228243495.34450651769615.52419354839
January, 2016417.6994492.44663382594486.77839851024617.13709677419
February, 2016408.1321489.49096880131481.19180633147609.47580645161
March, 2016428.882493.92446633826483.98510242086591.53225806452
April, 2016418.0769497.53694581281489.38547486034574.59677419355
May, 2016425.9695498.35796387521489.94413407821562.5
June, 2016429.9202509.68801313629499.44134078212551.81451612903
July, 2016446.5935520.19704433498510.42830540037547.17741935484
August, 2016467.5652535.63218390805526.62942271881551.00806451613
September, 2016474.2045550.57471264368541.3407821229556.04838709677
October, 2016475.7882553.36617405583545.99627560521557.25806451613
November, 2016484.1799555.66502463054547.11359404097567.9435483871
December, 2016476.3355558.45648604269552.32774674115579.43548387097
January, 2017508.4363566.33825944171560.33519553073597.17741935484
February, 2017497.0433582.10180623974570.7635009311613.50806451613
March, 2017476.7664600.16420361248585.84729981378618.34677419355
April, 2017515.2696606.56814449918592.36499068901619.75806451613
May, 2017525.7785609.52380952381599.25512104283624.39516129032
June, 2017515.8614609.52380952381599.25512104283633.06451612903
July, 2017515.5888611.00164203612601.11731843575647.58064516129
August, 2017525.7785614.94252873563601.48975791434665.32258064516