Hong Kong Retains Title of World’s Costliest Home Market
- Home in Hong Kong costs 18.1 times median pretax income
- Prices hovering 2.6 percent below September 2015 record
Hong Kong Homes Are World's Least Affordable
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. While that’s a modest improvement in affordability compared with 19 times in the previous year, Demographia considers a score of more than 5.1 as “severely unaffordable,” according to its website.