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A CBRE report from 2019 lists Hong Kong as having the highest average property price in the world. [20] As of June 2021, an average 500 sqft apartment cost HK$9.44 million in Hong Kong Island, HK$8.32 million in Kowloon, and HK$7 million in New Territories; an average family would have to save for about 20.7 years to pay for such a unit. [21]
A market street in Mong Kok, a residential district in Hong Kong. A bedspace apartment (Chinese: 牀位寓所; pinyin: chuáng wèi yùsuǒ; Jyutping: cong4 wai2 jyu6so2), also called cage home (籠屋; lóngwū; lung4uk1), coffin cubicle, or coffin home (棺材房; guāncai fáng; gun1coi4 fong2), is a type of residence that is only large enough for one loft bed surrounded by a metal cage.
No. Region Home ownership rate(%) Date [2] [3]; 1 Kazakhstan 98: 2024 2 Laos 95.9: 2015 3 Romania 95.6: 2023 4 Albania 95.3: 2023 5 Slovakia 93.6: 2023 2 China 96: 2022 7 Serbia 91.6
Public housing in Hong Kong is a set of mass housing programmes through which the Government of Hong Kong provides affordable housing for lower-income residents. It is a major component of housing in Hong Kong , with nearly half of the population now residing in some form of public housing. [ 1 ]
A 1978 survey of housing conditions in 192 cities found that their combined population had increased by 83 percent between 1949 and 1978, but housing floor space had only grown by 46.7 percent. [1] In 1978 there were only 3.6 square meters of living space per inhabitant in these cities, a reduction of 0.9 square meters since 1949. [1]
Hong Kong's Gini Coefficient, (measure of income inequality), increased to 0.539. [4] In the Subdivided Units Study Report 2009 produced by the Society of Communication Organisation, the median monthly income of residents living in subdivided units was $3200 HKD, below the city's median monthly income population. [5]
They are Hong Kong Housing Authority (HKHA), Hong Kong Housing Society (HKHS), and Hong Kong Settlers Housing Corporation Limited. As of 31 March 2016, approx. ⅓ of Hong Kong's population (2.14 million) live in Hong Kong's public housing estates. 760,000 of those units were owned by HKHA [ 1 ] while 140,000 are HKHS [ 2 ] and 1,400 HK ...
Hong Kong property buyers thus commonly accept that the usable space of a residential unit is only 65–70 percent of its gross floor area - this is known as the Efficiency Ratio. [ 46 ] [ 51 ] This ratio stood at 93 percent thirty years previously. [ 51 ]