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Addressing Housing Affordability through “One Person, One Flat” Tax

Housing in Hong Kong has been rated the most “severely unaffordable” in the world by the Demographia International Housing Affordability Survey (“the Survey”) for seven consecutive years since 2011. When Hong Kong was first added to the Survey in 2011,1 it was the only major metropolitan market with a double-digit (11.4) “Median Multiple”.