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Thread: HK housing ranked world's least affordable for 9th year

  1. #1
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    Default HK housing ranked world's least affordable for 9th year

    Hong Kong

    HONG KONG has been ranked the world's least-affordable housing market for a ninth straight year.

    Not only did it retain the notorious title, homes in the city got further out of reach for most residents, according to Demographia, an urban planning policy consultancy. The city's median property price climbed to 20.9 times median household income in 2018, up from 19.4 times a year earlier.

    Vancouver was ranked the second-most unaffordable market, leapfrogging Sydney - where the housing boom has gone into reverse. Melbourne came in fourth, followed by San Jose and Los Angeles. London was the worst European city, coming in equal 10th with Toronto.

    Things may get easier for homebuyers as property markets from Hong Kong to London join a global downturn. Hong Kong housing values have endured their longest losing streak since 2008, prices in outer London neighbourhoods have fallen for the first time since 2011 and Sydney home owners are grappling with the worst real estate slump since the 1980s.

    The Demographia study covered 309 metropolitan markets across eight countries, including Australia, Canada, the UK and the US as of the third quarter of 2018.

    BLOOMBERG

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    does anyone know if SG is in this study? wasn't mentioned as one of the top 10 in the article.

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    hmm, business times seems to have omitted 2 paragraphs, the original bloomberg article said:

    The survey rates middle-income housing affordability using the "median multiple", which is the median house price divided by the median household income.

    It found that the most affordable major housing markets were in the United States, with housing prices 3.9 times household income, followed by Canada (4.3) and Singapore (4.6).

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    Quote Originally Posted by bargain hunter View Post
    hmm, business times seems to have omitted 2 paragraphs, the original bloomberg article said:

    The survey rates middle-income housing affordability using the "median multiple", which is the median house price divided by the median household income.

    It found that the most affordable major housing markets were in the United States, with housing prices 3.9 times household income, followed by Canada (4.3) and Singapore (4.6).
    We should try mean income and see if it still makes sense. But Singapore mean income should be quite high...
    The three laws of Kelonguni:

    Where there is kelong, there is guni.
    No kelong no guni.
    More kelong = more guni.

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    Default Re: HK housing ranked world's least affordable for 9th year

    Quote Originally Posted by Kelonguni View Post
    We should try mean income and see if it still makes sense. But Singapore mean income should be quite high...
    i read the entire report...

    median home price in singapore (in SGD currency): 400k
    median household income: 87k
    median home price to income multiple: 4.6x

    so, it's affordable if you're buying HDB...
    how about condo?

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    Default Re: HK housing ranked world's least affordable for 9th year

    The most important question is, if condo is meant for median households? Obviously not.Strictly based on % of private to total housing, condos are meant for the 10th to 30th percentile of households in terms of household incomes.The thing is, do we have any stats regarding what the incomes of this group are? Or at least the 20th percentile as the median of this segment.Then we can decide if condos are too cheap.
    Quote Originally Posted by sginvestor View Post
    i read the entire report...median home price in singapore (in SGD currency): 400kmedian household income: 87kmedian home price to income multiple: 4.6x so, it's affordable if you're buying HDB... how about condo?
    The three laws of Kelonguni:

    Where there is kelong, there is guni.
    No kelong no guni.
    More kelong = more guni.

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    Default Re: HK housing ranked world's least affordable for 9th year


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    Default Re: HK housing ranked world's least affordable for 9th year

    Quote Originally Posted by Arcachon View Post
    That was the ultimate intention.Think of yours as the promo period, no loan eligibility issues, much like the low COE period between 2008 and 2011.
    The three laws of Kelonguni:

    Where there is kelong, there is guni.
    No kelong no guni.
    More kelong = more guni.

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    Default Re: HK housing ranked world's least affordable for 9th year

    Quote Originally Posted by Kelonguni View Post
    That was the ultimate intention.Think of yours as the promo period, no loan eligibility issues, much like the low COE period between 2008 and 2011.
    Agree, 1984 my friend bought a car pay by his father ford laser.

    He said people got no money should not drive a car.

    That time anyone willing to pay can drive a car.

    I poor boy drive a 400 dollar RX100 Yamaha motorcycle with an L plate.

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    Default Re: HK housing ranked world's least affordable for 9th year

    Quote Originally Posted by Arcachon View Post
    Agree, 1984 my friend bought a car pay by his father ford laser.

    He said people got no money should not drive a car.

    That time anyone willing to pay can drive a car.

    I poor boy drive a 400 dollar RX100 Yamaha motorcycle with an L plate.
    Now ride luxurious BMW R1250GSA or Ducati panigale v4?

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    Default Re: HK housing ranked world's least affordable for 9th year

    Quote Originally Posted by azeoprop View Post
    Now ride luxurious BMW R1250GSA or Ducati panigale v4?
    BMW - Bus MRT Walk.

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