Hong Kong apartments 12 times pricier than in Hanoi

By Ngoc Diem   May 5, 2024 | 11:18 pm PT
Hong Kong apartments 12 times pricier than in Hanoi
View of Hong Kong from Victoria peak. Photo from Pixabay
The average price of apartments in Hong Kong is US$25,802 per square meter, the highest in Asia, while in Hanoi it is $2,068, according to Global Property Guide.

The European real estate market research company has published a report on the apartment sales and rental markets in 11 major Asian cities.

It said as of April Hong Kong prices were 1.5 times that of second placed Taipei.

Hanoi is more expensive than only Jakarta, and is lower than places like Bangkok, Mumbai, Manila, Tokyo, and Singapore.

In the rental market for one-bedroom apartments, Singapore topped at $4,590 per month followed by Hong Kong and Tokyo.

The cheapest rent was in Mumbai. Hanoi was in 10th place at $680.

According to Global Property Guide, apartment prices in some areas in Southeast Asia tended to decline last year, including HCMC (down 1.2%) and Malaysia (1%).

In contrast, prices in many other cities such as Taipei (5.2%) and Singapore (2.7%) increased.

The global housing market is tending to stabilize as inflationary pressures have eased and interest rates have stopped rising sharply in many countries, Global Property Guide said.

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