If you’re still searching for reasonable house prices in Hong Kong, first of all, stop doing that. Second of all, check out this map collating all the city’s MTR stations with the average price per square foot of nearby residential estates.
Produced by Dr. Leung Kai-chi, director of I.CARE Leadership at the Chinese University of Hong Kong, the map has run up near to a million hits since being posted to Facebook last week.
Inspired by a similar visual representation of house prices in New York, the method sees the average price per square foot taken from the estate with the most active transactions in the past six months within 200 metres of a specific MTR station. Got that?
Among the 12 Hong Kong stations where the cost per square foot came in at under HKD10,000, Yau Tong, LOHAS Park and Quarry Bay were found to be the cheapest, ranging from “Make It Rain” prices HKD8,732 to HKD8,957.
The three most expensive stops were found to be Central, Sai Ying Pun (boy, they cashed in on that new station quickly) and Kowloon, with prices coming close to a wallet-weeping HKD32,000 per square foot.
The price gap between Hong Kong Island and the New Territories also seems to be narrowing for the first time, with Sha Tin MTR recording average prices of HKD13,762 compared to HKD14,666 in Fortress Hill.
Nowhere is sacred. No one is safe. Now we get why all those kids are hanging out in tents down in Admiralty.
H/T: EJI
