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Hong Kong remains world’s most unaffordable housing market

Even with a 10.0% drop in property prices versus pre-pandemic levels, the city stayed top as of a Deutsche Bank price ranking and continued to lead Demographia’s affordability survey.

Reported · Written up by our desk · Residential

Hong Kong has again been ranked as the world’s priciest residential property market, according to Deutsche Bank’s “Mapping the World’s Prices” report, with the city holding its top spot despite prices falling 10.0% from pre-pandemic levels. The finding underscores how long affordability pressures have persisted for local buyers.

The report also highlights that wages have not kept pace with housing costs. In Deutsche Bank’s ranking, Hong Kong places 30th out of 69 cities on monthly salary.

Separately, Demographia’s International Housing Affordability Survey says it would take a household 14.1 years of income, without other expenses, to buy a median-priced home in Hong Kong.

Demographia also reports Hong Kong has held the title of the world’s most unaffordable housing market for 16 straight years.

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