Hong Kong has retained its mantle as the most expensive housing market on Earth, boasting the highest average house price at US$1.2 million, as well as the highest average prime property price at US$6.9 million.
That is according to CBRE Group Inc’s Global Living report, which canvassed 35 cities from Barcelona, Spain, to Birmingham, England.
A few metropolises have taken a tumble — the report last year found that some of the best-
performing cities were New York, Los Angeles, Toronto, Vancouver, Sydney and Melbourne. With home-price growth in those markets now slowing, they have been pushed down the list, making room for European cities where growth is still robust.
Asia’s showing remains strong. After Hong Kong comes Singapore and then Shanghai.
Vancouver and Shenzhen — one of the bigger cities in China’s Greater Bay Area — round out the top five for highest average property price.
While Hong Kong saw 17,790 private housing projects completed last year, that is not sufficient given the pressure on demand in relation to the size of the territory and its limited suitable land for residential use, CBRE said.
The other most-expensive markets for prime homes are Shanghai and Moscow, at US$2.4 million; Beijing at US$2.2 million; Shenzhen at US$2 million; and London at US$1.8 million.
For cheaper luxury digs, try Dublin, where the average price comes in at US$384,050 or Ho Chi Minh City, at US$403,270.
Real estate agent and property developer JSL Construction & Development Co (愛山林) led the average compensation rankings among companies listed on the Taiwan Stock Exchange (TWSE) last year, while contract chipmaker Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) finished 14th. JSL Construction paid its employees total average compensation of NT$4.78 million (US$159,701), down 13.5 percent from a year earlier, but still ahead of the most profitable listed tech giants, including TSMC, TWSE data showed. Last year, the average compensation (which includes salary, overtime, bonuses and allowances) paid by TSMC rose 21.6 percent to reach about NT$3.33 million, lifting its ranking by 10 notches
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