Reported 8 months ago
Global housing prices continue to rise, making the dream of owning a home seem increasingly out of reach. A recent study compared 94 major markets in 8 countries to determine the most unaffordable cities to buy a house, taking into account average incomes and average home prices. Surprisingly, Hong Kong ranked first as the most difficult city to buy a house. The report revealed that Hong Kong's housing ownership rate is only 51%, primarily due to factors like limited space, high population density, small apartments, and exorbitant rents. Additionally, the United States, with cities like San Jose, Los Angeles, San Francisco, and San Diego, and Australia, with cities like Sydney, Melbourne, and Adelaide, also face severe housing affordability issues, with a significant presence in the top 10 list.
Source: YAHOO