Thanks to overabundant Chinese liquidity, Hong Kong's home prices are now stretching the limits of both affordability and credulity. Hong Kong's residential property prices have almost tripled since December 2008.
Still, it's debatable whether the risks from an overheated property market are any higher in Hong Kong than in Australia, which is scored at the highest level by all three main rating companies.
More on Rating the China Contagion Risk on Hong Kong property prices
Via Fion Li at Bloomberg News