The Unaffordable City Hong Kong's reign as the world's priciest residential property market is a dismal milestone, underscoring the city's chronic failure to address its crippling housing affordability crisis.
For 16 consecutive years, Hong Kong has topped the list of most unaffordable housing markets globally, according to the Demographia International Housing Affordability Survey.
The reality behind this sorry record is complex and disturbing. Hong Kong's sky high housing costs are largely driven by wealth disparity, which has become an entrenched feature of the city's socio economic landscape.