Housing in Hong Kong

Housing in Hong Kong varies by location and income. More than 7 million people live on about 1,108 km² (427 mi²) of land in the region.

According to the 2007 census, 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, 52.3% of the 2.3 million domestic households were owner-occupiers.

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%.

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. In response the Hong Kong Government commenced a programme of mass public housing, providing affordable homes for those on low incomes.

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

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