November 22, 2015 group01

Price Index

Place drag your cursor on the graph to obtain accurate price index in different period.

(Q1=Quarter 1, Q2=Quarter 2, Q3=Quarter 3, Q4=Quarter 4)

Interpretation

The price index depicts the variance and change of price over years. In general, it can be observed that price of Belvedere Garden has seen a growth between 1991 to 2015.

Between the date 1991 to 1996 there has been minimal fluctuation in the price index. Though it should be noted that in the year 1997, the sudden drop in price index is due to the Asian Financial Crisis. The crisis started from Thailand due to the financial collapse of Thai Baht. The effect of the crisis has spread to Hong Kong and South East Asia countries, causing a slump in the real estate property market.

From the graph, the price index has been fluctuating within the 500 range onwards until 2008. The relatively slow increase in property price is due to the late recovery of the Asian financial crisis and coupling the effect of the 2003 SARS. Between the year 2003 onwards, the property market has been recovering and the property price has remain steady. Until 2009, countries have  been growing after the 2008 global finacial crisis and the price has increased onwards.

From 2009 onwards, the graph represented a growth at a much drastic rate. This is contributed by the Chinese stimulus package rolled out by the Chinese government in November 2008 and investors generally have greater purchasing power. Due to the lower interest rate in Hong Kong compared to in China, many Chinese investors purchased properties in Hong Kong instead. Thus, housing price in Hong Kong has been escalating since then.

It is true that starting from 2012, the Hong Kong Government has launched several policies to curb the overheated property market, for instance, stamp duties. However, the general price level has shown an increasing trend as well. Limited housing supply and increasing construction costs could be possible reasons of the surging trend of price level.

Data of Price Index

The exact data of price index can be found below.

YearPrice Index
1990Q1100
1991Q1126.8740911
1991Q2167.2750036
1991Q3192.6949148
1991Q4208.8161471
1992Q1226.7443533
1992Q2251.8979855
1992Q3259.3379885
1992Q4250.7431694
1993Q1245.9595732
1993Q2259.2550137
1993Q3286.4489072
1993Q4292.6657538
1994Q1336.0171452
1994Q2373.9059092
1994Q3359.4877804
1994Q4368.9636708
1995Q1340.3110955
1995Q2345.4176229
1995Q3313.9058769
1995Q4298.8498239
1996Q1317.6331772
1996Q2346.3393885
1996Q3358.7358006
1996Q4389.2443074
1997Q1472.50257
1997Q2533.3640363
1997Q3539.9481876
1997Q4526.5083474
1998Q1414.2721753
1998Q2371.4328841
1998Q3320.6176161
1998Q4306.2066455
1999Q1320.1252054
1999Q2328.2098486
1999Q3329.9097677
1999Q4304.9397408
2000Q1298.5290315
2000Q2281.8796441
2000Q3283.959944
2000Q4279.6512206
2001Q1268.4195351
2001Q2264.0290635
2001Q3251.9992688
2001Q4238.7708215
2002Q1247.7705673
2002Q2245.3969702
2002Q3223.3690164
2002Q4208.6483264
2003Q1207.7335369
2003Q2191.4943273
2003Q3191.9049478
2003Q4207.9397108
2004Q1246.967114
2004Q2270.9028274
2004Q3264.426462
2004Q4288.5378248
2005Q1308.6692101
2005Q2337.8784401
2005Q3349.2144439
2005Q4342.3950495
2006Q1336.1546043
2006Q2332.5782551
2006Q3347.4890612
2006Q4325.9767911
2007Q1330.9959653
2007Q2334.2690428
2007Q3349.3555551
2007Q4380.9069753
2008Q1436.2507471
2008Q2459.1693912
2008Q3455.6145587
2008Q4385.9482087
2009Q1382.2356052
2009Q2438.3703872
2009Q3481.0119847
2009Q4505.5516382
2010Q1515.4818973
2010Q2552.0790188
2010Q3585.8648819
2010Q4603.9710015
2011Q1679.6698639
2011Q2695.2108536
2011Q3704.3885954
2011Q4658.0699193
2012Q1716.2735779
2012Q2763.1283128
2012Q3797.5680706
2012Q4904.6355777
2013Q1967.3798063
2013Q2989.9764807
2013Q3964.6103004
2013Q4999.3591125
2014Q1975.8805445
2014Q21010.705808
2014Q31052.120769
2014Q41121.528971
2015Q11250.334239
2015Q21219.789017
2015Q31280.112426