Least Affordable Housing Market Ranking Again
Twenty times of residents' median income, Hong Kong was ranked the world’s least-affordable housing markets for the ninth year in the row by Demographia Housing Affordability Survey, followed by Vancouver and Sydney.
Hong Kong has a median multiple of 20.9, means that the median home price is 20.9 times of the city’s median household income. Vancouver’s median multiple is at 12.6 times, and Sydney’s has dropped to 11.7 from 12.9 last year.
The report ranks 309 cities in eight countries using a method called the median multiple, which is calculated by comparing the city’s median home price (in 2018’s third quarter) with the median local household income. The countries in the survey are Canada, the U.S., China (Hong Kong only), Singapore, Australia, New Zealand, the U.K. and Ireland.
- APMR News