In 2024, the average price of permanent housing in Hong Kong Island dropped to around ******* Hong Kong dollars per square meter on average. The city had the highest property prices in the region.

Housing Index in Hong Kong increased to 143.46 points in November 23 from 142.49 points in the previous week. This dataset provides - Hong Kong House Price Index - actual values, historical data, forecast, chart, statistics, economic calendar and news.

In the fourth quarter of 2024, the average monthly rent of private apartments in the Hong Kong Island region, the heart of Hong Kong, was between *** and *** Hong Kong dollars per square meter. Meanwhile, the median income for an individual was ** thousand Hong Kong dollars per month.

As of March 2025, the average monthly rent for public rental housing in Hong Kong's New Territories was ** Hong Kong dollars per square meter. These types of apartments were rent-controlled and therefore were significantly cheaper than their private counterparts. For instance, whereas public housing in the New Territories costs ** Hong Kong dollars per square meter per month on average, a private apartment in the same districts costs *** Hong Kong dollars per month.

Graph and download economic data for Residential Property Prices for Hong Kong SAR (QHKN628BIS) from Q4 1979 to Q2 2025 about Hong Kong, residential, HPI, housing, price index, indexes, and price.

This statistic shows the price per square foot in selected prime residential markets worldwide in 2018. Hong Kong was the most expensive residential market globally with average prime residential values of ***** U.S. dollars per square foot.

Key information about House Prices Growth

• Hong Kong SAR (China) house prices grew 1.1% YoY in Oct 2025, following an increase of 1.8% YoY in the previous month.
• YoY growth data is updated monthly, available from Jan 1994 to Oct 2025, with an average growth rate of 0.0%.

Portugal, Canada, and the United States were the countries with the highest house price to income ratio in 2024. In all three countries, the index exceeded 130 index points, while the average for all OECD countries stood at 116.2 index points. The index measures the development of housing affordability and is calculated by dividing nominal house price by nominal disposable income per head, with 2015 set as a base year when the index amounted to 100. An index value of 120, for example, would mean that house price growth has outpaced income growth by 20 percent since 2015. How have house prices worldwide changed since the COVID-19 pandemic? House prices started to rise gradually after the global financial crisis (2007–2008), but this trend accelerated with the pandemic. The countries with advanced economies, which usually have mature housing markets, experienced stronger growth than countries with emerging economies. Real house price growth (accounting for inflation) peaked in 2022 and has since lost some of the gain. Although, many countries experienced a decline in house prices, the global house price index shows that property prices in 2023 were still substantially higher than before COVID-19. Renting vs. buying In the past, house prices have grown faster than rents. However, the home affordability has been declining notably, with a direct impact on rental prices. As people struggle to buy a property of their own, they often turn to rental accommodation. This has resulted in a growing demand for rental apartments and soaring rental prices.

In 2019, Hong Kong had the most expensive residential property market worldwide, with an average price per square foot of 1,987 U.S. dollars.

Hong Kong

Hong Kong, an autonomous special administrative region of China, has one of the least affordable housing markets in the world. A region with an estimated 7.49 million people, it has become increasingly difficult to purchase a home in Hong Kong. The spoken languages in Hong Kong are Cantonese, Mandarin, and English.

Hong Kong housing market

The housing market in Hong Kong has seen an increase in prices in the past couple years. There are two types of housing unit offers in Hong Kong, private and public. The number of public rental housing units has been consistently rising since 2008. Nearly half of the public rental apartments in Hong Kong as of March 2018 were between 30 and 39.9 square meters. Not only has the number of public rental housing units increased since 2008, so have the private ones. However, there are more private housing units than public ones in Hong Kong. Additionally, the Home Ownership Scheme exists in Hong Kong. It is a government sponsored program that subsidizes public housing in Hong Kong. First created in the late 1970s, it was instituted with two targets in mind. The first was to persuade the richer tenants of these apartments to leave so families in greater need could live there. The second was to allow these families to become home owners, since they did not have enough money to buy in the private sector. Under this program, the government sells apartments to qualified low-income tenants at prices below the market value.

House price index in Hong Kong, June, 2025 The most recent value is 189.92 index points as of Q2 2025, an increase compared to the previous value of 189.45 index points. Historically, the average for Hong Kong from Q1 1990 to Q2 2025 is 122.25 index points. The minimum of 28.36 index points was recorded in Q1 1990, while the maximum of 263.65 index points was reached in Q3 2021. | TheGlobalEconomy.com

Real residential property prices Y-on-Y, percent change in Hong Kong, June, 2025 The most recent value is -7.94 percent as of Q2 2025, an increase compared to the previous value of -8.01 percent. Historically, the average for Hong Kong from Q1 1990 to Q2 2025 is 3.81 percent. The minimum of -40.54 percent was recorded in Q3 1998, while the maximum of 45.93 percent was reached in Q1 1992. | TheGlobalEconomy.com

In 2020, Hong Kong had the most expensive residential property market worldwide, with an average property price of 1.25 million U.S. dollars. The government of Hong Kong provide public housing for lower-income residents and almost 45 percent of the Hong Kong population lived in public permanent housing in 2018.

Oslo was the Norwegian city with the most expensive apartments and houses in 2024. In March that year, the average price per residential property in the Norwegian capital was approximately *** million Norwegian kroner. The city above the polar circle, Tromsø ranked second, with housing units costing on average nearly *** million Norwegian kroner. In 2019, there were over nine thousand dwellings sold in Norway. Housing types The largest share of Norwegian residential housing units in 2023 were detached houses, accounting for nearly half of the total housing market in the country. Moreover, a quarter of all occupied and vacant dwellings that year were blocks of flats and over one fifth were houses with two dwellings or row houses. Where are properties the most expensive? Within selected global property markets, Hong Kong had the most expensive housing prices in 2020. An average property would cost roughly **** million U.S. dollars in the former British colony. Munich ranked second, where the average property price amounted to roughly *********** U.S dollars.

In 2022, Hong Kong had the highest construction costs of standard high rise apartments in the Asia-Pacific region, with construction costs averaging ***** U.S. dollars per square meter. Contrastingly, the construction costs for a standard high rise apartment in Kuala Lumpur amounted to an average of *** U.S. dollars per square meter in 2022.

In the second quarter of 2025, North Macedonia, Portugal, and Bulgaria registered the highest house price increase in real terms (adjusted for inflation). In North Macedonia, house prices outgrew inflation by nearly ** percent. When comparing the nominal price change, which does not take inflation into consideration, the average house price growth was even higher.

Meanwhile, many countries experienced declining prices, with Hong Kong recording the biggest decline, at ***** percent. That has to do with a broader trend of a slowing global housing market.

In 2018, the average prime property price in Hong Kong was **** million U.S. dollars. Shanghai and Moscow had the next highest prime property prices at **** and **** million U.S. dollars respectively.

In 2023, the median residential property price per square meter in Hong Kong was about ****** U.S. dollars. That year, the median price per square meter of apartments in Kolkata, India, was around *** U.S. dollars.

Hong Kong HK: Private Domestic: Units: Vacancy Rate: to Total Stock %: Large Units data was reported at 8.200 % in 2017. This records a decrease from the previous number of 9.200 % for 2016. Hong Kong HK: Private Domestic: Units: Vacancy Rate: to Total Stock %: Large Units data is updated yearly, averaging 8.800 % from Dec 1999 (Median) to 2017, with 19 observations. The data reached an all-time high of 10.700 % in 2012 and a record low of 6.000 % in 1999. Hong Kong HK: Private Domestic: Units: Vacancy Rate: to Total Stock %: Large Units data remains active status in CEIC and is reported by Rating and Valuation Department. The data is categorized under Global Database’s Hong Kong SAR – Table HK.EB031: Residential: Private: Vacancy & Vacancy Rate.

Hong Kong SAR (China) CPI (B): Weight: Housing: Rent, Including Rates: Private Housing data was reported at 25.480 % in 2006. This stayed constant from the previous number of 25.480 % for 2005. Hong Kong SAR (China) CPI (B): Weight: Housing: Rent, Including Rates: Private Housing data is updated yearly, averaging 25.480 % from Dec 1980 (Median) to 2006, with 27 observations. The data reached an all-time high of 25.480 % in 2006 and a record low of 25.480 % in 2006. Hong Kong SAR (China) CPI (B): Weight: Housing: Rent, Including Rates: Private Housing data remains active status in CEIC and is reported by Census and Statistics Department. The data is categorized under Global Database’s Hong Kong SAR (China) – Table HK.I064: Consumer Price Index (B): 10/99-9/00=100: Weights: Annual.

In 2020, the average monthly residential rent in New York was 2,870 U.S. dollars. Abu Dhabi and Hong Kong had the next highest average rental rates at 2,838 and 2,682 U.S. dollars respectively.