Even 13 years is ridiculously high. In many countries, a typical house/apartment (which is 2-3 times bigger than a typical HK apt) costs the same as 3-5 times annual income. Therefore, HK housing is still 4-8 times more expensive than in many countries.
@@elenachurch2415 Hong Kong is 75% undeveloped. Also HK's residential area is only around 4% of HK's overall land (not counting the "Ding Uk policy in NT).
The key reason for extremely high price of Hong Kong house is, Hong Kong people are foolish that they believe Hong Kong's house market is a "free market". They don't know what actually a free market means, and don't think about it thoroughly but all listen to stakeholders.
Fairly comprehensive analysis of the residential market … 23 or 12 years of salary to buy a flat … doesn’t seem to be so relevant anymore .. It should be more about the overall economy and how HKers are still satisfied to stay put here for the long haul … No matter how you slice it … pricing will continue to go down year after year .. there doesn’t seem to be any light at the end of the tunnel .. good luck to those who decides to buy or holding onto their properties
