Hong Kong's housing price burden is the world's most important family income 12 times

According to mainland and overseas media reports, the second place in this survey is Vancouver, Canada. The housing price burden is 10.6 times the annual household income, and the third place is Sydney, Australia, which is 9.2 times.

Among the cities covered by the survey, the housing of 128 cities reached affordable levels, an increase from 115 cities in the previous survey; at the same time, the number of cities with severely unaffordable housing prices fell from 42 to 39.

The house prices and annual household income reported in the report are both the median of the data. The housing price affordability level is within three times the annual household income to reach the “affordable” standard. When this ratio reaches 5 times or more, the city's housing prices are "unaffordable".

According to statistical data, although the Hong Kong SAR government continued to suppress the property market and increase land supply last year, coupled with adverse factors such as the rise in mortgage interest rates and the pressure of the stock market, property prices fell slightly from the middle of last year, but general residential property prices are still calculated throughout the year. An 8% year-on-year increase was recorded.

Demographia has released a total of 8 "global housing burdens", and this year is the first time Hong Kong has broken records. In 2007, the housing price burden of Los Angeles in the United States reached 11.5 times the annual household income, a record high. In 2010, the housing price burden in Hong Kong was 11.4 times the annual household income, and it also became the top of the list that year.

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