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.

House price index in China, December, 2024 The most recent value is 122.7 index points as of Q4 2024, a decline compared to the previous value of 124.93 index points. Historically, the average for China from Q2 2005 to Q4 2024 is 113.45 index points. The minimum of 75.87 index points was recorded in Q2 2005, while the maximum of 145.91 index points was reached in Q3 2021. | TheGlobalEconomy.com

Housing Index in China decreased by 3.50 percent in May from -4 percent in April of 2025. This dataset provides the latest reported value for - China Newly Built House Prices YoY Change - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

In 2023, the average price of real estate in China was approximately ****** yuan per square meter, representing a decrease from the previous year. Rising prices in the real estate market Since the 1998 housing reform, property prices in China have been rising continuously. Housing in the country is now often unaffordable, especially considering the modest per capita income of Chinese households. Shanghai and Beijing even have some of the most competitive real estate markets in the world. The rapid growth in housing prices has increased wealth among homeowners, while it also led to a culture of speculation among buyers and real estate developers. Housing was treated as investments, with owners expecting the prices to grow further every year. Risk factors The expectation of a steadily growing real estate market has created a property bubble and a potential debt crisis. As Chinese real estate giants, such as China Evergrande and Country Garden, operate by continuously acquiring land plots and initiating new projects, which often require substantial loans and investments, a slowdown in property demands or a decline in home prices can significantly affect the financial situation of these companies, putting China’s banks in a vulnerable position. In addition, due to a lack of regulations and monetary constraints, the long-term maintenance issues of high-rise apartments are also a concern to the sustainable development of China’s cities.

Hong Kong Affordability Ratio: Private Household: Small & Medium Units data was reported at 63.614 % in Oct 2018. This records a decrease from the previous number of 64.243 % for Sep 2018. Hong Kong Affordability Ratio: Private Household: Small & Medium Units data is updated monthly, averaging 46.973 % from Jan 1994 (Median) to Oct 2018, with 298 observations. The data reached an all-time high of 113.543 % in Jun 1997 and a record low of 19.738 % in Jul 2003. Hong Kong Affordability Ratio: Private 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.

In 2023, the median home price to median annual household income in Shenzhen, China, was about ****. That year, the median price of apartments to median annual household income in Perth, Australia, was around ***.

Residential Property Prices in China decreased 8.57 percent in December of 2024 over the same month in the previous year. This dataset includes a chart with historical data for China Residential Property Prices.