China Is World’s Hottest Housing Market

China overtook Hong Kong as the world’s hottest housing market in the first quarter, with prices rising at more than double the rate of anywhere else, property adviser Knight Frank LLP said.

Values soared 68 percent in China’s main cities from a year earlier, according to a global index compiled by the London- based broker. Gains for Hong Kong, India, Singapore, Australia, Malaysia and Indonesia helped lift average prices in the Asia- Pacific region by almost 18 percent.