Hong Kong has been deemed the world’s “least affordable” housing market for nine straight years, according to a major survey. Don’t be surprised if nine becomes ten.
A decade of eye-watering growth pushed house prices up more than 200 per cent, exacerbating the wealth gap among Hong Kongers and forcing people to live in homes no bigger than a car parking space.
Last year, a 121 sq ft “studio” flat sold for nearly HK$2m (US$255,000). Unlike other cities, Hong Kong does not have legal requirements on the minimum size of an abode.
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