The Hong Kong Housing Problem
Hong Kong has been ranked as the most expensive city to live in. Survey after survey has found that the housing prices in Hong Kong are simply unaffordable. On an average, the median income to housing price ratio is more than 18. This means that a person would have to save for 18 years straight to buy a house, that too if they did not spend anything on food, clothing, healthcare or any other necessities. The end result is that it has become impossible for a first generation homeowner to actually afford a house in Hong Kong City. In this article, we will have a closer look at some of the important factors that have resulted in the creation of this housing problem.
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