14 years to buy a flat: Quality of life in Hong Kong going down, shows survey

Brian Yap | 14 August 2014 | South China Morning Post

Why city’s quality of life is getting worse, starting with inability of the average household to afford to buy even the most modest of homes

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Realty check: Scrimp & save for 14 years to buy a tiny flat!

Vey Wong | 14 August 2014 | EJ Insight

An average Hong Kong family would need to scrimp and save for about 14 years to be able to buy a tiny 400-square-foot apartment in the city’s urban areas, according to a survey by the Chinese University of Hong Kong (CUHK).

The overall quality of life in Hong Kong has deteriorated over the year through 2013, with property affordability the weakest in 12 years, the survey found.

 

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