China: home to the world’s least affordable housing markets

Five big Chinese cities rank among the priciest housing markets in the world, surpassing notoriously expensive cities like Tokyo, London and New York, based on calculations by the International Monetary Fund. In fact, seven out of 10 of the world’s least affordable markets–Beijing, Shanghai, Shenzhen, Hong Kong, Tianjin, Guangzhou and Chongqing–are now in China.

[Atlantic Cities, 7/1]

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