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Thursday, September 14, 2017, 14:59
HK commercial property prices triple over past decade
By Bloomberg
Thursday, September 14, 2017, 14:59 By Bloomberg

In this May 22, 2015 photo, a woman walks past high-rise buildings in the financial district of Hong Kong. According to a survey by Real Capital Analytics Inc, prices of office, retail and industrial properties in most global cities have reached records since the global financial crisis, with values in Hong Kong tripling over the past decade. (PHILIPPE LOPEZ / AFP)

Prices of office, retail and industrial properties in most global cities have reached records since the global financial crisis, with values in Hong Kong tripling over the past decade, according to a survey by Real Capital Analytics Inc.

With the exception of a handful of cities such as Amsterdam, Chicago, Tokyo and Washington, prices in the other cities have fully recovered and gone on to set new records, RCA said in a report. Prices in Manhattan and London’s West End have almost doubled, the report showed.

The Global Cities Composite of Real Capital Analytics’ Commercial Property Price Indices rose 8.3 percent in the second quarter from a year earlier, led by strong gains in Boston, Hong Kong, Melbourne and large German cities, the report showed. In London’s West End, prices rose 0.2 percent from a year earlier. The indexes cover all major investment markets around the globe and are based on actual transactions as opposed to appraisal valuations.

READ MORE: Red-hot property market replete with worrying signs looming ahead

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