Research Institute
Written by: Lin Oli
2021-02-03 13:00
Last update date: 2021-02-03 13:00
First look at the ratio of property prices to income around the world▼▼▼
With high property prices in Hong Kong, people often lament that it is difficult to buy a home to "get on the bus" as one of the core issues in Hong Kong.
According to the latest data released by the global database website Numbeo, the ratio of property prices to income in Hong Kong is as high as 45.19 times, ranking second among 109 countries or regions, second only to Syria.
The ratio of Mainland China is 29.02 times, ranking 8th in the world; Taiwan is 23.63 times, ranking 11th in the world.
Even if you save up to the first phase to buy a car, it is not easy for Hong Kong people to repay the property. Based on a 90-square-meter residence, dividing the total payment for 20 years by the family's monthly income is 2.9 times, ranking 8th in Asia Ranked 11th in the world, higher than other Asian countries and regions.
As for Japan, only 75.2%, ranking 74 in the world.
In terms of the mortgage affordability index, the lower the index, the more difficult it is to meet the mortgage repayment.
The Hong Kong Housing Loan Index has continued to fall in the past 10 years, from 0.66 in 2013 to 0.35 this year, which means that the mortgage burden of Hong Kong people is becoming more and more difficult.
At present, many people in Hong Kong love to collect rents in investment units. However, the data indicates that the rental return rates of Hong Kong’s downtown and residential properties outside the city center were only 1.62% and 1.74%, respectively, while the rental returns reported by Japan and New Zealand were higher than those in Hong Kong.
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