Many young people from Hong Kong have been investing overseas. As one young person said, “My income will never catch up with the galloping home prices in Hong Kong,” she said. Instead, she bought a flat in Bangkok, where she goes to visit twice a year.
Hong Kong home prices are expected to rise another 10-20% in 2018. The city is actually ranked as the world’s least affordable for home buying by the Demographia Housing Affordability Survey. Flats there cost, on average, 18 times the annual median income.
Wealthy young investors have also set their sights on Tokyo and Osaka in Japan.