Housing in Hong Kong varies by location and income.
Almost 7 million people live on about 1,108 km² (427 mi²) of space in Hong Kong.
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According to the 2006 census[1], the total Hong Kong population was 6.6 million. The breakdown by type of housing was as follows:
Subsidized sale flats listed here are not tradeable in the open market.
In 2009, 53.9% of the 2.3 million domestic households were owner-occupiers.[2]
In 2004/2005, housing expenditures were accounting for an average of 30.6% of the average monthly household expenditures, with utilities accounting for an additional 3.4%.[3]
Public housing is a major component of the housing in Hong Kong. About half of Hong Kong residents now live in public housing estates (Chinese: 公共屋邨) and other tower blocks with some form of subsidy. The history of public housing in Hong Kong can be traced back to 1953, when a fire in Shek Kip Mei destroyed the shanty homes of approximately 53,000 people. As a consequence, the Hong Kong Government commenced a programme of mass public housing, providing affordable homes for those on low incomes.[4]
Several subsidized home ownership programs have been implemented, including: Home Ownership Scheme, Flat-for-Sale Scheme, Tenants Purchase Scheme, Sandwich Class Housing Scheme and Private Sector Participation Scheme.
In the high-end market, the Peak is ranked the 3rd most expensive city in the world in 2007 with a square foot per unit pricing of US $2,008 behind London and Monaco[5]
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