Is Hong Kong doing enough to lose its top spot for expensive housing?

Hong Kong has come out on top again, but not in a good way. After earning the distinction of having the highest petrol prices in the world, we have again been named the world’s priciest residential property market in the “Mapping the World’s Prices” report released by Deutsche Bank.We managed to keep our top spot despite a 10 per cent drop in property prices from pre-pandemic levels. Naturally, this is not something Chief Executive John Lee Ka-chiu will be blowing his horn about.Generations of Hongkongers have been priced out of the city’s property market. wages have not kept up. In the Deutsche Bank report, we are ranked 30th out of 69 cities in terms of monthly salary.