HK home prices more than double 1997 levels

Hong Kong

HERE'S a scary statistic: Hong Kong home prices are more than double their 1997 levels, when the city's biggest housing bubble burst.

What's more, affordability has deteriorated too, according to cautionary remarks made on Monday to legislators by Financial Secretary Paul Chan, who noted the ratio of mortgage payments to median household income hit 68 per cent in the third quarter, compared with a 45 per cent average between 1997 and 2016.