January 25, 2019 – Hong Kong has been ranked as the most expensive city in the world to live in. Vancouver, Sydney and Melbourne are the next least affordable cities, according to the International Housing Affordability Survey.
The most expensive cities to live in around the world in 2019 have been revealed in the 15th Annual Demographia International Housing Affordability Survey.
The study analysed 309 housing markets (and 91 major markets with populations over a million) in eight countries – Australia, Canada, Hong Kong, Ireland, New Zealand, Singapore, Britain and the United States.
To produce the ranking, it looked at data from the third quarter of 2018 using the “mean multiple” approach – the median house price divided by the median household income.
The most expensive cocktail in Hong Kong is HK$1,688 – is it worth it? The survey shows that the most “severely unaffordable major housing markets” are currently in Australia, New Zealand and China.
Below the 10 most expensive cities to live in around the world in 2019, ranked by mean multiple in ascending order. 10 – San Francisco (USA), 9 – Auckland (New Zealand), 8 – Tauranga (New Zealand), 7 – Los Angeles (USA), 6 – San Jose (USA), 5 – Santa Cruz (USA), 4 – Melbourne (Australia), 3 – Sydney (Australia), 2 – Vancouver (Canada), 1 – Hong Kong (Hong Kong).