STARTING this week Family Money will publish the latest movements in property prices in Hong Kong.
Over a four-week period, we will plot the price rises and falls in 20 key residential areas of the territory, looking at how property values have moved over the month and over the year. Prices will reflect the average value of a home in a given part of Hong Kong and will be based on a sample of properties prices in one location.
This week we look at Ap Lei Chau, Island South, Mid-Levels and Pokfulam.
AVERAGE flat values in Mid-Levels, one of Hong Kong's most popular luxury markets soared by 118 per cent in the past 12 months, the legacy of Hong Kong's chronic land shortage and rife speculation.
In the year to March, 1994, average flat prices in Mid-Levels rose from an average of $4,550 per square foot to $9,750.
Mid-Levels also recorded the largest monthly price increase, with values rising by 11.2 per cent.
A similar picture emerged in Island South, where average values have shot up by 98.5 per cent in the past year and by $650 per sq ft in the past month.