Mercer’s Living Cost World Ranking: Hong Kong places Third. WHY?

Mercer’s Living Cost World Ranking: Hong Kong places Third. WHY?

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The 2014 Cost of Living Rankings survey by Mercer, was announced yesterday, with two African cities topping the list as the most expensive cities due to the expatriates. Hong Kong dominates Asia’s most expensive ranking with the third place.
The reason that Hong Kong holds the highest place is due to the accelerating increase of the housing properties. The over-population issue in Hong Kong is not an unknown issue – 7.2 million people in the 1,100 km2 land, yet the key to the problem is the manipulative measures of the property firms, and the government’s inability of authorative control & its continuous stagger in establishing new public housing.
Therefore properties often fall into the rich for the purpose of investment. The poor continue to suffer from the lack of opportunities, and only stare hopelessly at the rising price figures.

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