• Home
  • Post a press-release
  • Visibility packages
  • Subscribe email updates
  • Event Calendar
  • Contact

For Immediate Release | Official News Wire for the Travel Industry

Where press releases are breaking news

  • Home
  • Post a press-release
  • Visibility packages
  • Subscribe email updates
  • Event Calendar
  • Contact

Hong Kong remains world’s priciest housing market

April 14, 2019 by Forimmediaterelease

Hong Kong has kept the crown as the most expensive city to buy property in, while two other Chinese cities also made the top five list, according to new research that covers 35 cities around the globe.

The average price of property in the southeastern Chinese city, infamous for its unaffordability, is more than $1.2 million, which is 5.5 percent more than last year’s cost, real estate consultant CBRE said in the fifth edition of its Global Living report. Meanwhile, the price of buying an average prime property stands at nearly $6.9 million, making it the champion for luxury housing as well.

Last year’s hotspots managed to keep their positions in the rating, with Singapore coming in second, followed by Shanghai and Vancouver, with the average home costing between $815,000 and $874,000.

Shenzhen, a new addition to the report, took the fifth place and became the third Chinese city in the top five. The city is the tech capital of China and is located just 30 kilometers from the world’s most expensive urban center. It hosts the headquarters of many international and Chinese businesses, including Huawei, ZTE and Tencent.

Los Angeles, New York, London, Beijing, and Paris also made the top ten list of the world’s most expensive cities.

Hong Kong’s property market has long been known for its unaffordable prices. In June 2018, it achieved a world record with a single parking space being bought for a whopping $760,000.

Travel News | eTurboNews

Share this:

  • Twitter
  • Facebook

Filed Under: Press Release Tagged With: and, Angeles, around the globe, average, average price, Beijing, Breaking Travel News, businesses, buy, buying, capital, CBRE, center, champion, China, Chinese, cities, city, coming, consultant, cost, costing, crown, edition, estate, expensive, followed, free, Global, Global Living, Globe, headquarters, home, Hong, Hong Kong, Hong Kong travel news, hosts, hotspots, housing, in, including, International, International Travel News, IT, June, just, keep, kilometers, known, Kong, last, list, Living, London, Los Angeles, Luxury, Market, million, most, most expensive, nearly, New, new addition, new york, News articles, Paris, parking, percent, Place, positions, price, prices, priciest, property, rating, real, Real Estate, record, remains, report, research, s, said, second, Shanghai, Shenzhen, Singapore, single, Southeastern, space, stands, tech, The World, to, top, top five, top ten, top ten list, tourism, Travel Destination News, Travelwire News, urban, Vancouver, World, World News, World record, year, York, ZTE

Search




Recent Articles

  • Jamaica welcomes new Frontier Airlines service to Montego Bay
  • New Board of Governance appointed for the Seychelles Tourism Academy
  • Minister Bartlett Laments Passing of Former Tourism Minister Francis Tulloch
  • Seychelles takes over Eastern Europe with market blitz
  • VOYAGERS TRAVEL COMPANY CREATES A PRICE ESTIMATOR TOOL FOR GALAPAGOS TRAVEL
  • Jamaica welcomes new charter service from Fort Lauderdale to Ocho Rios by Qcas Aero
  • Bartlett Calls for COVID-19 Recovery Strategy for Commonwealth Countries
  • Fraport Builds New Airfreight Warehouse at CargoCity South 
  • Joseph Calleja, World Famous Maltese Tenor, to Perform at the 25th Anniversary Concert in Malta, the Hidden Gem of the Mediterranean, With Special Guest Plácido Domingo July 26, 2022
  • Bahamas Tourist Office Kicks Off Summer Boating Flings

Copyright © 2022 · Metro Pro on Genesis Framework · WordPress · Log in