The World's #1 Housing Market Is Ridiculous Again (Singapore)
MARCH 1997: The most expensive site in a government auction is sold for around US$1.53 billion..
MAY 1997: The world's most expensive home is sold in Hong Kong for around US$101 million..
JULY 1997: A day after Hong Kong reunited with mainland China, Thailand was forced to devalue its currency, triggered an economic downturn across Asia and leading to Hong Kong's property market crash. House prices fell by as much as 50 percent..
MARCH 2002: Hong Kong residential buildings are still "less than half their worth at the time of Hong Kong's transfer from Britain to China in 1997." .
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MAY 2004: Property prices increase by 5% in the first quarter—the fastest quarterly growth in more than three years.
SEPTEMBER 2004: Hong Kong housing prices see an annual gain of 28.7%, ranked first among all countries in the world. .
MAY 2005: Bloomberg declares: "Hong Kong: It's Back!" and its "residential property market is roaring back to life." .
DECEMBER 2006: Government land auction fetches set a record for around US$5,444 per square foot in the famed housing complex Severn 8. .
OCTOBER 2007: A 3,205 square foot duplex apartment on Hong Kong island fetches around US$4,300 per square foot — a new record.
NOVEMBER 2007: Sun Hung Kai properties sells a unit in the Severn 8 housing project for around US$27 million; the property set a record for price per square foot at around US$5,290. .
SEPTEMBER 2009: A pair of penthouse apartments are put on sale for US$39 million, setting an apartment per square foot record at US$9,700 .
OCTOBER 2009: A Hong Kong luxury apartment on the 68th floor of the famous 39 Conduit Road sold for US$57 million, Asia's most expensive apartment at the time. .
MAY 2010: Martin Lee, the youngest son of Hong Kong real estate tycoon Lee Shau-kee, purchased a plot of land for US$233 million; a new record at US$8,746 per square foot. .
SEPTEMBER-OCTOBER 2010: The complex at 6-16 Peel Rise at The Peak, another luxury home site, sells for US$141 million..
NOVEMBER 2010: The A 79th floor unit in a downtown skyscraper, The Centre, sells for US$3,300 per square foot — a new record for commercial property. .
AUGUST 2012: A 6,200 square foot apartment in a Frank Gehry designed building was sold for US$61 million, making it the most expensive apartment ever sold in Hong Kong .
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