Home-Cost Index Says Ouch Hong Kong, 'Oh Canada,' Hello Dubai
- Hong Kong beats San Francisco, NYC as most-costly for housing
- Annual Bloomberg mortgage-rent gauge shows drops in Dubai, Rio
Photographer: Hot Digital Dog/First Light via Getty Images
Oh Canada! The first two words of that country’s national anthem are also what many people in Toronto and Vancouver must be saying when they pay their rent or mortgage.
Toronto’s costs posted the biggest jump from a year ago in the annual Bloomberg Global City Housing Cost Index, which analyzes more than 100 municipalities worldwide. Canada’s financial hub surged 18 places to rank 28th globally in the survey, while Vancouver had the second-largest leap: 16 spots to 16th overall.