In 2023, 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 136.68 points in July 6 from 136.56 points in the previous week. This dataset provides - Hong Kong House Price Index - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Key information about House Prices Growth

• Hong Kong SAR (China) house prices dropped 6.4% YoY in Jan 2025, following a decrease of 7.2% YoY in the previous month.
• YoY growth data is updated monthly, available from Jan 1994 to Jan 2025, with an average growth rate of 3.4%.
• House price data reached an all-time high of 51.8% in May 1997 and a record low of -44.7% in Oct 1998.

House price index in Hong Kong, March, 2025 The most recent value is 189.41 index points as of Q1 2025, a decline compared to the previous value of 192.55 index points. Historically, the average for Hong Kong from Q1 1990 to Q1 2025 is 121.77 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

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.

Graph and download economic data for Residential Property Prices for Hong Kong SAR (QHKN368BIS) from Q4 1980 to Q4 2024 about Hong Kong, residential, housing, and price.

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.

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.

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.

Hong Kong Affordability Ratio: All Household: Small & Medium Units data was reported at 59.373 % in Oct 2018. This records a decrease from the previous number of 59.960 % for Sep 2018. Hong Kong Affordability Ratio: All Household: Small & Medium Units data is updated monthly, averaging 43.260 % from Jan 1994 (Median) to Oct 2018, with 298 observations. The data reached an all-time high of 86.629 % in Jun 1997 and a record low of 17.516 % in Jul 2003. Hong Kong Affordability Ratio: All Household: Small & Medium Units data remains active status in CEIC and is reported by Centaline Property Agency Limited. The data is categorized under Global Database’s Hong Kong SAR – Table HK.EB021: Residential: Affordability Ratio. Assumptions: unit size of 600 s.f. 60% loan-to-value ratio 20 years mortgage period based on Centa-City (Small/Medium Units) Leading Index's adjusted price Median household income is assumed to be the same as the last quarter.

Real residential property prices Y-on-Y, percent change in Hong Kong, March, 2025 The most recent value is -8.03 percent as of Q1 2025, an increase compared to the previous value of -9.38 percent. Historically, the average for Hong Kong from Q1 1990 to Q1 2025 is 3.89 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 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.

Hong Kong HK: Private Property Market Yield: Annual: Offices: Grade A data was reported at 2.700 % pa in 2017. This records a decrease from the previous number of 3.000 % pa for 2016. Hong Kong HK: Private Property Market Yield: Annual: Offices: Grade A data is updated yearly, averaging 4.800 % pa from Dec 1987 (Median) to 2017, with 31 observations. The data reached an all-time high of 9.200 % pa in 1990 and a record low of 2.700 % pa in 2017. Hong Kong HK: Private Property Market Yield: Annual: Offices: Grade A 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.EB057: Office: Property Yields.

Hong Kong: Furniture and household maintenance prices, world average = 100: The latest value from 2021 is 115.56 index points, an increase from 110.32 index points in 2017. In comparison, the world average is 82.49 index points, based on data from 165 countries. Historically, the average for Hong Kong from 2017 to 2021 is 112.94 index points. The minimum value, 110.32 index points, was reached in 2017 while the maximum of 115.56 index points was recorded in 2021.

Hong Kong HK: Private Property Market Yield: Retail data was reported at 2.500 % pa in Oct 2018. This records an increase from the previous number of 2.400 % pa for Sep 2018. Hong Kong HK: Private Property Market Yield: Retail data is updated monthly, averaging 4.450 % pa from Jan 1998 (Median) to Oct 2018, with 250 observations. The data reached an all-time high of 8.400 % pa in Oct 2001 and a record low of 2.300 % pa in Nov 2014. Hong Kong HK: Private Property Market Yield: Retail 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.EB088: Retail: Private: Property Yields.

This statistic shows the number of private housing units in Hong Kong from 2012 to 2023. As of March 2023, the number of private housing units in Hong Kong amounted to more than 1.73 million.

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.

In 2019, the city in the Asia Pacific region which was the most expensive in terms of prime real estate was Hong Kong, in which prime real estate cost on average **** thousand U.S. dollars per square meter. Contrastingly, in Manila prime real estate cost on average just under *** thousand U.S. dollars per square meter in 2019

Hong Kong Agreement for Sales & Purchase: Public Housing: Value data was reported at 1,151.482 HKD mn in Oct 2018. This records a decrease from the previous number of 1,339.589 HKD mn for Sep 2018. Hong Kong Agreement for Sales & Purchase: Public Housing: Value data is updated monthly, averaging 1,033.839 HKD mn from Jul 1995 (Median) to Oct 2018, with 280 observations. The data reached an all-time high of 2,722.522 HKD mn in May 2018 and a record low of 318.879 HKD mn in Jun 2003. Hong Kong Agreement for Sales & Purchase: Public Housing: Value data remains active status in CEIC and is reported by Centaline Property Agency Limited. The data is categorized under Global Database’s Hong Kong SAR – Table HK.EB049: Residential: Public: Primary and Secondary Market: Transaction: Value and Volume.

In the first half of 2020, the rental price of retail colocation space in Hong Kong was between *** and *** U.S. dollars per month. Pricing in hyperscale cloud and wholesale colocation was less expensive, with monthly rent between *** and *** U.S. dollars for hyperscale, and *** and *** U.S. dollars for wholesale colocation. Hyperscale data centers have the largest power requirements and customers are usually a cloud or large tech company. Wholesale and retail colocation, on the other hand, have smaller power requirements.