Hong Kong maintains its seventh consecutive year for the title of most expensive housing market in the world, shows study published Monday by the International Housing Affordability demographic, according to Bloomberg.
The study covers 406 housing markets in major metropolitan areas in Australia, Canada, China, Ireland, Japan, New Zealand, Singapore, UK and USA. Includes 92 major metropolitan markets, with over a million inhabitants, including five cities: Tokyo, Yokohama, New York, Osaka-Kobe-Kyoto, Los Angeles and London.
The average price of housing in Hong Kong last year was 18.1 times the average annual income before taxes of a household. Although there is a slight improvement compared to 2015 when the average price of housing in Hong Kong was 19 times the average annual income before taxes of a household, demographic believes that a score above 5.1 indicates an extremely inconvenient.
In second place is again the Australian city of Sydney, where the average price of a home was 12.2 times the average annual income of a household before taxes, on the third and fourth ranges cities Vancouver (Canada) and Auckland (New Zealand ).
