![]() Sydney moved up one spot this year, making it the second most expensive city to purchase a home on the list, with a score of 15.3. For context, 75% of New York City’s land area is dedicated to residential housing. One reason for Hong Kong’s steep housing costs is its lack of supply, partly due to its lack of residential zoning-which only accounts for 7% of the region’s zoned land. 3.1 to 4.0 is considered moderately unaffordableĪll the cities on this graphic are classified as severely unaffordable-and, for the 12th year in a row, Hong Kong takes the top spot as the world’s most unaffordable housing market, with a score of 23.2.4.1 to 5.0 is considered seriously unaffordable.A score of 5.1 or above is considered severely unaffordable.To calculate affordability, a city’s median housing price and divided by its median household income. Before diving in, it’s worth outlining the methodology used in this report, to help explain what’s classified as a severely unaffordable housing market.
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