Hong Kong real estate vs inflation: did it beat the dollar?
187% × 97%
Updated June 1, 2026 · Rating and Valuation Department · BLS / FRED (CPIAUCNS)
Since 2000, Hong Kong real estate is up 187% while U.S. consumer prices rose 97%. Hong Kong real estate far outpaced inflation — but the ride was brutal: its worst drop was 41%. Figures in U.S. dollars.
Base 100 since 2000
Returns by window
| Window | Hong Kong home prices (HK$/m²) | U.S. inflation (CPI-U) |
|---|---|---|
| 1 year | 8% | 4% |
| 5 years | -19% | 24% |
| 10 years | 11% | 39% |
| since 2000 | 187% | 97% |
The price of return: risk
| Asset | Annual volatility | Worst drop |
|---|---|---|
| Hong Kong real estate | 19% | -41% |
| Inflation (CPI) | 1% | -4% |
$10,000 in each, since 2000
| Asset | Value today |
|---|---|
| Hong Kong real estate | $28,738 |
| Inflation (CPI) | $19,729 |
Frequently asked questions
Did Hong Kong real estate beat inflation?
Over the period, Hong Kong real estate returned 187% while U.S. consumer prices rose 97%. The gap is what the asset earned beyond simply keeping pace with the dollar.
Does this account for the dollar losing value?
Yes. The inflation line is U.S. CPI, the measure of how much purchasing power the dollar lost over the same period. Returns above that line are gains in real terms.
Does a higher return mean a better investment?
Not on its own. A higher return came with higher risk here — the volatility and the largest drop on this page show how much the value swung along the way.
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Descriptive, educational content computed from official public data. Not investment advice. Past performance does not guarantee future results.