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Hong Kong Homes Ranked Least Affordable for 11th Year
- Vancouver, Melbourne, San Francisco and London among top 10
- Auckland saw housing affordability deteriorating the most
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Hong Kong remained the world’s least affordable housing market for the 11th year, underscoring the income disparity in the financial city.
The Asian hub topped Vancouver, Sydney and Auckland as the most unaffordable residential market in the world last year, according to a report published by think tanks Urban Reform Institute and Frontier Centre for Public Policy. Hong Kong’s median property price dropped slightly to 20.7 times its median household income in 2020, from 20.8 times the year prior.