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Hong Kong is nearly off the charts. Graph: Demographia International Housing Affordability Survey[/caption]
According to a new report, Hong Kong is home to the world’s least affordable real estate.
The Demographia International Housing Affordability Survey
covers nearly 400 metropolitan markets in nine countries including Australia, Canada, China, Ireland, Japan, New Zealand, Singapore, the United Kingdom and the United States. The report compares median income with median house prices; the larger the disparity between the two figures, the less affordable it is to own your own home.
Hong Kong not only ranked well above other unaffordable cities but also produced the highest level of unaffordability in the 11 year history of the survey.
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