Although the housing prices on Hong Kong Island have been rising as a whole, there have been three major crashes in history, and the reasons for the collapse are basically the same.

The first crash was in 1967, when the situation on Hong Kong Island frightened many of the middle class on Hong Kong Island, so these middle class emigrated overseas in large numbers, causing the housing prices on Hong Kong Island to plummet.

The second big plunge was in 1982 when Hong Kong

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