Hong Kong has the most expensive housing among developed countries and regions in the world. Based on statistics of the Census and Statistics Department, from March 2004 to now, there has been an increase of 67.2 per cent in the nominal wage. The price indices of private flats, on the other hand, have skyrocketed by 3.86 times over the same period, according to the Rating and Valuation Department. This implies real wages have hardly kept up with surging real-estate prices.Affordability aside,…
Source : South China Morning Post
Read more…Hong Kong needs varied approach to ease housing shortage, including public-private partnerships, Lands Resumption Ordinance
