Hong Kong remains world’s most expensive city for housing despite price slump
Hong Kong has maintained its position as the world’s most expensive city to purchase a home, even with prices declining by 20% over the past five years, according to a report in the South China Morning Post. A recent study by the Deutsche Bank Research Institute, which surveyed 69 cities, found that the average price for a flat in Hong Kong’s city centre is US$25,946 per square metre. The city holds this top ranking despite facing economic headwinds and high mortgage costs, placing it ahead of other major hubs like Zurich, Singapore, and New York.
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