SUBSCRIBERS

Hong Kong property getting more out of reach

Chinese buyers are paying higher sums for land sold by the government and outbidding domestic stalwarts. By Nisha Gopalan

Published Fri, Jan 20, 2017 · 09:50 PM

China

Hong Kong

IT takes around 35 years for a median-income household to buy a 90-square-metre (970 square foot) apartment in Hong Kong. So, by 2052, in other words. That makes the former British colony the world's least affordable city, according to Oxford Economics.

Now, with Chinese buyers forking out ever-higher amounts for land sold by the government and outbidding domestic stalwarts, prospective homebuyers are going to have to wait a whole lot longer.