Hong Kong's secondary housing market has shown a patchy recovery from the collapse of prices that followed the 1997 Asian financial crisis.

On Hong Kong Island, prices in Taikoo Shing in Quarry Bay and City Garden in North Point are now close to the peak levels reached before the crisis saw prices collapsing by up to 67% across the market.

The Island rebound has been much higher than the recovery recorded in Kowloon and the New Territories over the past 13 years, however, and for the overall mass residential market, prices are still 21.3% down on the 1997 peak, according to the widely used barometer of home prices, the Centa-City Leading Index.

South China Morning Post