{"id":41660,"date":"2017-01-24T12:32:31","date_gmt":"2017-01-24T05:32:31","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/it-takes-decades-for-you-to-buy-a-small-apartment-in-these-cities\/"},"modified":"2017-01-24T12:34:51","modified_gmt":"2017-01-24T05:34:51","slug":"it-takes-decades-for-you-to-buy-a-small-apartment-in-these-cities","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/it-takes-decades-for-you-to-buy-a-small-apartment-in-these-cities\/","title":{"rendered":"It takes decades for you to buy a small apartment in these cities"},"content":{"rendered":"


\nThe least affordable cities in the world
\nCrowded residential towers in an old community in Quarry Bay, Hong Kong. CHEN MIN CHUN\/Shutterstock
\nIf you only earn the equivalent of the median income in Hong Kong, Mumbai, Beijing and Shanghai, you will have to wait for 30 years before you can afford a 90-square-metre apartment in these cities.
\nThose four cities, in that order, have the highest house price to income ratios in the world, above London, Paris and New York City, according to a Bloomberg report, citing a study by quantitative analysis firm Oxford Economics.
\nHong Kong\u2019s ranking in the report squares with a report by wealth analytics firm Julius Baer last year that rates the Chinese SAR as the most expensive city for luxury residential property in Asia. Prime homes in the city are priced at USD41.2 million on average, five times as costly as the average for the region.
\nMore: Would you live in a so-called \u2018luxury\u2019 cage?
\nYet investors would find that gross yields from rents in those Chinese and Indian cities are \u201cremarkably low,\u201d suggestive of \u201cstretched\u201d valuations, according to the Oxford Economics report. In fact, gross rental yields in the cities fell short of 10-year government bond yields last year.
\nThose who hope to own a house in those cities on a relatively meager income may yet have reason to wait. \u201cWe expect housing price increases to moderate in the coming years across Asia, with outright falls possible in some markets,\u201d stated Oxford economists Tianjie He and Louis Kuijs.
\nThe report went on to rate Tokyo and Singapore as the sixth and seventh least affordable cities in the world. Seoul was lodged at number 10, while Delhi ranked at 11th place, above Sydney, Auckland and Melbourne.
\nRead next: Why many middle-income families in Beijing are moving underground
\n
\nSource : property-report.com
\nRead more…It takes decades for you to buy a small apartment in these cities<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The least affordable cities in the world Crowded residential towers in an old community in...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-41660","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-aPW","jetpack-related-posts":[{"id":107734,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/link-reit-looks-to-the-mainland-as-hong-kong-rent-growth-cools\/","url_meta":{"origin":41660,"position":0},"title":"Link Reit looks to the mainland as Hong Kong rent growth cools","date":"June 3, 2019","format":false,"excerpt":"\r The Link Real Estate Investment Trust (Link Reit), Asia\u2019s largest real estate investment trust, announced on Monday modest growth in property income for 2018 and said it plans to acquire more commercial properties in China\u2019s top tier cities, adding to its holdings in Beijing, Shanghai, Shenzhen and Guangzhou.\u201cThere is\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":138388,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubais-luxury-home-prices-rise-the-most-hong-kong-still-the-most-expensive-prime-residential-market-savills-says\/","url_meta":{"origin":41660,"position":1},"title":"Dubai\u2019s luxury home prices rise the most, Hong Kong still the most expensive prime residential market, Savills says","date":"July 19, 2023","format":false,"excerpt":"\r Dubai\u2019s luxury property prices rose the most among 30 cities in the first half of 2023, according to the latest study by Savills, and Hong Kong still has the world\u2019s most expensive prime residential property.\r \r Source : South China Morning Post\r Read more...Dubai\u2019s luxury home prices rise the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":108388,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/shenzhens-largest-residential-land-sale-since-2001-draws-the-attention-of-more-than-80-chinese-and-hong-kong-developers\/","url_meta":{"origin":41660,"position":2},"title":"Shenzhen\u2019s largest residential land sale since 2001 draws the attention of more than 80 Chinese and Hong Kong developers","date":"June 24, 2019","format":false,"excerpt":"\r More than 80 Chinese and Hong Kong developers are expected to engage in fierce bidding when the tender for five residential sites in Shenzhen opens on Monday, as the city known for its scarce land supply, auctions the largest volume of land in a single day in nearly two\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":140145,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-ranking-slips-as-manila-is-worlds-hottest-market-for-prime-residential-properties-knight-frank\/","url_meta":{"origin":41660,"position":3},"title":"Hong Kong ranking slips as Manila is world\u2019s hottest market for prime residential properties: Knight Frank","date":"November 3, 2023","format":false,"excerpt":"\r The Philippines\u2019 capital Manila has overtaken Dubai to become the hottest market globally for prime residential properties in the September quarter, according to a report that ranks the world\u2019s major cities by price appreciation recorded over the past 12 months.\r \r Source : South China Morning Post\r Read more...Hong\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":96047,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-macau-zhuhai-bridge-will-close-property-price-gap-between-cities-say-analysts\/","url_meta":{"origin":41660,"position":4},"title":"Hong Kong-Macau-Zhuhai bridge will close property price gap between cities, say analysts","date":"August 15, 2018","format":false,"excerpt":"\r The opening of the Hong Kong-Zhuhai-Macau bridge later this year could further narrow the gap between Hong Kong and Macau house prices, both of which recently rose to an all-time high, according to property experts. Raymond Kwok, associate director at Guo Du Real Estate, said that once vehicles start\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":41664,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-is-most-expensive-city-in-asia-for-expatriates-to-rent-a-high-end-apartment\/","url_meta":{"origin":41660,"position":5},"title":"Hong Kong is most expensive city in Asia for expatriates to rent a high-end apartment","date":"January 24, 2017","format":false,"excerpt":"\r Hong Kong has ranked as the most expensive location in Asia for expatriates to lease a high-end apartments for the fifth year running, despite the city\u2019s rents having fallen by about 13 per cent since 2012, according to a survey by ECA International. The survey comes a day after\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/41660"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=41660"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/41660\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=41660"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=41660"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=41660"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}