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 decreased to 136.44 points in July 13 from 136.68 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

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.

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.

Hong Kong HK: Property Price Index: 1999=100: Offices: Grade A: Core Districts data was reported at 703.700 1999=100 in Oct 2018. This records an increase from the previous number of 468.100 1999=100 for Sep 2018. Hong Kong HK: Property Price Index: 1999=100: Offices: Grade A: Core Districts data is updated monthly, averaging 198.350 1999=100 from Jan 1993 (Median) to Oct 2018, with 310 observations. The data reached an all-time high of 703.700 1999=100 in Oct 2018 and a record low of 57.900 1999=100 in Apr 2003. Hong Kong HK: Property Price Index: 1999=100: Offices: Grade A: Core Districts 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.EB051: Office: Price Index: 1999=100.

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 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, 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.

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 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 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.

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 HK: Residential Mortgage: New Loans Approved: Avg Loan to Value Ratio data was reported at 44.400 % in Sep 2018. This records a decrease from the previous number of 45.500 % for Aug 2018. Hong Kong HK: Residential Mortgage: New Loans Approved: Avg Loan to Value Ratio data is updated monthly, averaging 60.100 % from Dec 2000 (Median) to Sep 2018, with 214 observations. The data reached an all-time high of 68.900 % in Sep 2002 and a record low of 44.400 % in Sep 2018. Hong Kong HK: Residential Mortgage: New Loans Approved: Avg Loan to Value Ratio data remains active status in CEIC and is reported by Hong Kong Monetary Authority. The data is categorized under Global Database’s Hong Kong SAR – Table HK.KB008: Residential Property Loans: Residential Mortgage Survey: Ratios.

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.

Hong Kong HK: Residential Mortgage: Value: Outstanding Loans (OL) data was reported at 1,289,396.000 HKD mn in Sep 2018. This records an increase from the previous number of 1,277,007.000 HKD mn for Aug 2018. Hong Kong HK: Residential Mortgage: Value: Outstanding Loans (OL) data is updated monthly, averaging 634,292.500 HKD mn from Dec 2000 (Median) to Sep 2018, with 214 observations. The data reached an all-time high of 1,289,396.000 HKD mn in Sep 2018 and a record low of 518,724.000 HKD mn in Feb 2001. Hong Kong HK: Residential Mortgage: Value: Outstanding Loans (OL) data remains active status in CEIC and is reported by Hong Kong Monetary Authority. The data is categorized under Global Database’s Hong Kong SAR – Table HK.KB006: Residential Property Loans: Residential Mortgage Survey: Value.

Hong Kong CPI (C): Weights: Housing: Materials for House Maintenance data was reported at 0.030 % in 2010. This stayed constant from the previous number of 0.030 % for 2009. Hong Kong CPI (C): Weights: Housing: Materials for House Maintenance data is updated yearly, averaging 0.030 % from Dec 2006 (Median) to 2010, with 5 observations. The data reached an all-time high of 0.030 % in 2010 and a record low of 0.030 % in 2010. Hong Kong CPI (C): Weights: Housing: Materials for House Maintenance data remains active status in CEIC and is reported by Census and Statistics Department. The data is categorized under Global Database’s Hong Kong – Table HK.I048: Consumer Price Index (C): 10/04-9/05=100: Weights: Annual.