,Hong Kong

Hong Kong is the least affordable housing market for eighth time in a row

It’s the only Asian city on the top ten.

With a red-hot property market that not even the threat of a Fed rate hike can curb, it comes as no surprise that Hong Kong once again holds the title of having the least affordable housing market in the world, according to Annual Demographia International Housing Affordability Survey.

The survey uses the median multiple, which is median house price divided by median household income, to evaluate the affordability of housing markets. 

Hong Kong is the only Asian city to make it to the top 10 as it tops the survey for the eighth time in a row following a median multiple of 19.4.

It is followed by Sydney at 12.9, Vancouver, Santa Cruz and San Jose. Melbourne, Santa Barbara, Los Angeles, Honolulu, San Francisco and Salinas-Monterey complete the top ten least affordable markets. 

On the other hand, the ten most affordable housing markets are all in the United States with Rochester as the most affordable. 

Cincinnati, Cleveland, Buffalo, Oklahoma and Pittsburgh are also in the list where housing prices are similarly within reach. 

The Demographia survey focuses on middle-income housing affordability and covers 293 metropolitan housing markets in nine countries. The data was gleaned from third quarter of 2017.


 

Join Hong Kong Business community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

About $270m of the aid will be given as one-off cash subsidies to practitioners.
The rules will be implemented on 19 January.
A possible rate hike in March will also positively affect the bank.
Eligible customers who will apply online can get a 20% first-year premium discount.
Chow Tai Fook Jewelry Group from China/HK SAR was amongst the top 10 companies. 
About 76% have expressed their intentions to look for a new job. 
For the quarter ended, there was a $6.6b worth of sales recorded.
HK online sales could grow by 10% in two to three years.
This includes being more lenient in granting leaves for parents of school children.
Non-residents coming from the country to be barred entry.
Wei Mei Tan and Michael Wong will see their roles take effect immediately.
It vowed to align its resources with the Northern Metropolis Development Strategy.
Following this will be a week of self-monitoring and a virus test on the 19th day.