According to the global 80 city house price income study, published by the china news agency (ccps) beijing on may 14 (journalist pang), asian cities have the highest home price income in the world, and mumbai has the largest increase in house price income in the past 10 years。
The ratio of home price income, which is the ratio of the average gross price of a housing unit in a given area to the average disposable income of the local population's household, is one of the important indicators for measuring whether housing prices are bubble-free。
The report notes that, according to the numbeo international housing price statistics database, globally, urban housing price incomes in developing countries are higher than in developed countries and regions. The data show that the average home price income ratio is 17. 5 in 80 cities globally, with 40 cities in developed countries and regions having an average home price income ratio of 12. 9 and 40 cities in developing countries having an average home price income ratio of 22. 1。
For the reasons given, the report states, first, that most developing countries are currently in a rapidly urbanizing phase, with large additional housing needs and relatively higher housing prices. At the same time, in most developing countries, the real estate market has started relatively late and is not well developed, and after the continued rise in housing prices, the speculative demand for home purchases by residents remains strong。
The average for asian cities is 26. 2 and the lowest for north american cities, 7. 6, in terms of the ratio of housing price income to cities on all continents。
Researcher shen shen, emp, said that the high cost-of-house income ratio in asian cities could be related to the high population and density of asian countries. In addition, asia's plains are small, and cities and urban circles, such as china, japan and korea, are more densely populated than european and american countries. The small size of the land per capita and the tight housing supply have led to a much higher ratio of home price income in most major asian cities than in european and american cities。
In terms of the increase in housing prices over the past 10 years, the top five were in mumbai, india; nairobi, kenya; tehran, iran; ho chi minh city, viet nam; and hong kong, china。
Shen zheng indicated that, in terms of dynamics, housing prices had not increased significantly in the cities of the interior of the country in comparison with the income of the inhabitants, in the recent decade, when they were lower than in neighbouring cities such as india and viet nam. (concluded)
