Related News
HK retains 'most expensive' ranking
00:46 UTC+8 September 11, 2012
|
Print Edition
Print Edition
HONG Kong has retained its title as the world's most expensive city for expat businesspeople to live in, coming ahead of second-placed London, as one of China's financial hubs continues to weather the global financial crisis more successfully than many of its counterparts in the West.
Residential prices for executive housing rose 7.4 percent in the first half of 2012, the UK property brokerage Savills said in research released yesterday.
Prices in Moscow rose by 5.5 percent, Sydney 3.7 percent and London 2.8 percent.
The brokerage tracks property prices for a standard group of seven people, to compare the cost of relocating an executive team to a city. By contrast, property costs are considerably cheaper in Paris, whose battered banks led to a 3.4 percent fall in rates for executive housing.
Hong Kong has both the highest prices and the fastest pace of growth. Despite slowing economic growth on Chinese mainland, domestic demand within Hong Kong itself is strong, although executive rents have been softening.
Housing and office costs for a core financial services business team of seven employees including a chief executive and administrative staff, total 660,000 pounds (US$1.1 million) per year in Hong Kong and 550,000 pounds in London.
Property prices in Hong Kong were a driving force behind the high turnout at the city's elections on Sunday, where more than 50 percent of eligible voters went to the polls.
The city's new leader, Leung Chun-ying, has introduced policies such as "Hong Kong land for Hong Kong people," plots that are restricted for sale only to Hong Kong permanent residents.
Residential prices for executive housing rose 7.4 percent in the first half of 2012, the UK property brokerage Savills said in research released yesterday.
Prices in Moscow rose by 5.5 percent, Sydney 3.7 percent and London 2.8 percent.
The brokerage tracks property prices for a standard group of seven people, to compare the cost of relocating an executive team to a city. By contrast, property costs are considerably cheaper in Paris, whose battered banks led to a 3.4 percent fall in rates for executive housing.
Hong Kong has both the highest prices and the fastest pace of growth. Despite slowing economic growth on Chinese mainland, domestic demand within Hong Kong itself is strong, although executive rents have been softening.
Housing and office costs for a core financial services business team of seven employees including a chief executive and administrative staff, total 660,000 pounds (US$1.1 million) per year in Hong Kong and 550,000 pounds in London.
Property prices in Hong Kong were a driving force behind the high turnout at the city's elections on Sunday, where more than 50 percent of eligible voters went to the polls.
The city's new leader, Leung Chun-ying, has introduced policies such as "Hong Kong land for Hong Kong people," plots that are restricted for sale only to Hong Kong permanent residents.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
