Cambodia and Hong Kong property markets take big hit due to the pandemic

1 March 2021 | General

Property prices compared to incomes in Cambodia and Hong Kong have fallen more than any other country since the pandemic, a report from US healthcare company Aetna has found.

The cost to income ratio has fallen by -6.58 to 39.89 in Cambodia between 2019 and 2020, and by -5.86 to 43.52 in Hong Kong, as the two Asian markets are still some of the most expensive in the world.

There were also falls in more affordable countries Azerbaijan, which now has a cost-to-income of 16.45 after a reduction of -3.02, as well as Algeria (-2.51 to 17.37) and Kazakhstan (-2.33 to 9.36).

The trend has gone the other way in some countries however.

The Philippines has seen the biggest increase from 2019 to 2020, by 6.29 to 29.92, while there’s cost to income increases in Indonesia (6.22 to 21.27), Sri Lanka (5.38 to 34.98) and Iran (4.95 to 29.83).

Countries such as Chile and Poland have seen smaller increases (4.67 and 2.25 respectively) but their lower initial figure means that these changes will probably have the biggest impact for expats and nationals already living there.

This post has originally been featured in Property Wire.