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Hong Kong bubble? Property prices fall in December.

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(Read caption) In December 2012, the price of residential properties in Hong Kong declined 0.8 percent since November but climbed 26.77 percent above the level seen in December 2011.

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The latest release of the University of Hong Kong's Hong Kong Residential Real Estate Series (HKU-REIS) indicating that, in December, the price of residential properties declined 0.8% since November but climbed 26.77% above the level seen in December 2011. 

The HKU-REIS is a set of property price indices constructed monthly using a “modified” repeat-sale methodology similar to that of the S&P/Case-Shiller indices yet suited to the Hong Kong property market. 

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