3 Chinese Cities Ranked Priciest in the World for Housing

By Jane Polubotko, January 23, 2017

2 0

Three Chinese cities were recently listed among the top ten in the world for least afforable housing, according to a recent Oxford Economics study.

Hong Kong landed at number one on the list, followed by Mumbai at number two, Beijing at number three and Shanghai at number four. With the exception of London, which ranked fifth overall, four of the top five cities with the most expensive property rates were located in Asia. Other Asian cities that cracked the top ten included Tokyo (sixth overall), Singapore (seventh overall) and Seoul (tenth overall).

Most Expensive Housing 2016

According to the study, it takes more than 30 years for a middle class family with average income to buy a 90 square meter apartment in Hong Kong, Mumbai, Beijing or Shanghai.

READ MORE: An Infographic of the World's Priciest Spots to Buy Property

The report revealed that rising prosperity and other demographics will lead to stronger housing demand in large Asian cities with less developed economies over the next several years. On the other hand, the population of Tokyo and Seoul is expected to decrease over next decade, which could cut down demand for property.


A recent study from the Organization for Economic Co-operation and Development (OECD) compiled a list of the top ten countries where property is the cheapest. The research was conducted by looking at the house prices relative to wages and then compared this ratio with historical averages. Despite expensive housing in their capital cities, Japan and South Korea still managed to make the list.

more news

Knowledge of Design Week 2024 Concludes with Over 2,300 Attendees

Innovating Design for the Future With Craftsmanship and Tech

Knowledge of Design Week 2024 Concludes with Over 2,300 Attendees

Innovating Design for the Future With Craftsmanship and Tech

T+ Sales: VIPO x Le Petit Prince Exclusives

Bring the magic of Le Petit Prince into your home

Gadget Review: How Does the 13-inch 2024 Apple iPad Pro Stack Up?

Rick Lombardier reviews the newest update to the iPad.

3rd Annual Juneteenth Celebration in Shanghai

A day of cultural and community festivities

Protect Your Skin This Summer with These Care Packages

Keep your skin glowing all summer long

0 User Comments

In Case You Missed It…

We're on WeChat!

Scan our QR Code at right or follow us at thatsonline for events, guides, giveaways and much more!

7 Days in China With thatsmags.com

Weekly updates to your email inbox every Wednesday

Download previous issues

Never miss an issue of That's Magazines!

Visit the archives