Luxe HK home prices still rising

Hong Kong

HONG KONG's stock market surge is turning up the heat in one of the world's most expensive property markets, as mainland China investors plough quick profits into million-dollar mansions in what analysts say may be a record year for home sales.

The Hong Kong stocks spree has sent the benchmark Hang Seng Index to seven- year highs as mainland investors snapped comparative bargains before pocketing gains. With property prices in the city already more than double their 2008 level, brokers say luxury home sales are booming, despite the city's best efforts to stop the market overheating.