The famous research institution Demographia published the International Housing Affordability survey shows that Hongkong is the most burden heavily city on estatefor common people in the world and the proportion at housing burden is 18.1 times than the ordinary standard far away from wealthy. It means the local people need deposited wage in their savings account monthly but without any paid and keep savings over 18 years if they want hold a real estate in Hongkong.
Even more alarming is the fact that Hongkong always placed in top one of most housing heavy burden city in the world since 2010.
That survey also pointed out it based primarily on global house market sales data which deadline in the third quarter in 2016 and it covered 406 urban cities in different countries distribute among Australia, Canada, China, Ireland, Japan, Singapore, New Zealand, U.K and U.S. The results of the survey based on times as the standards in housing affordability and calculated from divide housing prices’ median multiple by total family incomes yearly median multiple. The final ratio lower than 3 times means reasonable afford but over 5.1 is dangerous.
There are lots cities especially in developed countries rank in advance such as Sydney, Melbourne, Vancouver, Honolulu, San Francisco and it seem like the wealthy people congregates for business, travel and so on. Although has control by the hugely expensive but attracted more wealthy prefer it while poor people want far away from that as soon as possible.
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