Wednesday, November 01, 2017

Hong Kong's housing crisis

Poor residents in Hong Kong have less living space than prisoners in the city’s maximum security jails, according to a new study.

The average living space for per person in the city is just 50 sq ft, the equivalent of just half a parking space.

About 200,000 people were living in subdivided flats, according to a 2016 government report, with over 65% of families living in units that ranged between 75 and 140 sq ft (7 to 13 sq metres).

 An average resident would need to save more than 18 years of pre-tax salary, spending that money on nothing else, in order to afford a home.

Despite being one of the wealthiest cities in the world and having a government flush with more than £100bn in fiscal reserves, Hong Kong remains a deeply unequal society.


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