13 August 2015 - Hong Kong is one of the world’s most expensive places to live and it is becoming harder to find a place to call home when property prices continue to soar, smashing records for years despite the government’s cooling measures already in effect.
Sky-high property prices have led to many buyers having to make do with micro-sized apartments, worried that they might not be able to get on the property ladder at all if prices continue to surge. But how expensive are home prices in Hong Kong today and what is the minimum price per sq.ft one would have to pay?
Inspired by Dr. Leung Kar-chi, who produced a map of rental prices in Hong Kong along the city’s MTR line that went viral in April, HKET TOPick created a similar representation showcasing the price per square foot of private housing estates in 18 districts on a monopoly gameboard.
Data was gathered from property transaction records in June, and estates with the lowest price per sq.ft were chosen. The average price per sq.ft was HKD$10,627.
Property prices at a glance
North District: Fanling Centre HKD$9,373
Tuen Mun District: Palatial Coast HKD $8,005
Islands District: Caribbean Coast HKD $9,010
Kwai Tsing District: Po Sing Centre HKD $10,991
Sha Tin District: Monte Vista HKD$9,881
Tai Po District: Classical Gardens HKD $9,017
Yuen Long District: Vianni Cove HKD$7,570
Tsuen Wan District: Hong Kong Garden HKD $7,687
Sai Kung District: Nan Fung Plaza HKD$10,653
Hong Kong Island
Central and Western District: University Heights HKD$12,657
Southern District: Pokfulam Gardens HKD $13,244
Eastern District: New Jade Garden HKD$10,965
Wan Chai District: Southorn Garden HKD$11,613
The cheapest unit price is in Yuen Long District, New Territories, with an average price per sq.ft of HKD$7,570, while Pokfulam Gardens in Southern District reached HKD $13,244.