Rickey Chan, managing director of local property agency Dorbo Realty, has experienced the ups and downs of Hong Kong’s property market since the 1997 handover. Photo: Handout
In Hong Kong’s property market, HK$10 million no longer buys what it did in 1997
- Average prices for lived-in homes increased 2.4 times between 1997 and now, and some individual flats have appreciated by more than 450 per cent over that span
- The year of the handover proved to be a high-water mark at the time, with the price index plunging 62 per cent between 1997 and 2003 before a steady rise
Rickey Chan, managing director of local property agency Dorbo Realty, has experienced the ups and downs of Hong Kong’s property market since the 1997 handover. Photo: Handout
