Buying a home in the Asian financial hub (Hong Kong), synonymous with its super-rich tycoons and glittering financial district, costs more than 11 times the city's average salary, outpacing London, New York and other major cities, US-based consulting firm Demographia said in a report released Monday.
Sydney was ranked the second-least affordable major city, followed by Vancouver, and Melbourne.
The 7th Annual International Housing Affordability Survey compared home prices and household income in 325 cities in Australia, Canada, Hong Kong, Ireland, New Zealand, Britain and the United States.
It was the first time Hong Kong has been included in the survey.
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