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Hong Kong homes are the least affordable in the world: survey
Prices of secondary homes are up 40% since 2012.
Bloomberg reported that Hong Kong retained its rank as the most expensive housing market among 406 major metropolitan regions in the annual Demographia International Housing Affordability Survey for the seventh year in a row.
"The median price of a home in Hong Kong last year was 18.1 times the median annual pretax household income, the survey showed. That’s a modest improvement in affordability compared with last year’s 19 times, which was the highest multiple in the 12 years Demographia has been conducting its research," Bloomberg said.
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