Hong Kong breaks record for least affordable housing : survey

Hong Kong breaks record for least affordable housing : survey

Hong Kong breaks record for least affordable housing : survey

Written by Staff Writer

25 Jan, 2016 | 5:44 pm

A new survey has revealed that Hong Kong has the least affordable housing of 87 major global cities, with prices a record 19 times average pre-tax household income.

The rating was the least affordable ever recorded in the 12-year history of the organisation’s international housing affordability survey, the report said.

The survey considers urban areas with median home prices more than three times household income to be unaffordable and in danger of entering a housing bubble.

After Hong Kong, the second least affordable city is Sydney (12.2 times household income), which moved above Vancouver (10.8 times).

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