With an average of 6,300 people per square kilometre, Hong Kong is one of the world's most densely populated cities. With such a dense population, it's no surprise that land is in short supply in Hong Kong. In Hong Kong, the average price of a square foot of land is $11,000.
00. That's more than ten times the average price of a square foot of land in the US! Due to a variety of causes, Hong Kong's land costs are among the highest in the world. The first is the scarcity of available land.
Hong Kong is one of the world's smallest countries, with only 1,106 square kilometres. It's no surprise that land is so expensive in a city with such a little land area and such a high population.The great demand for land is another element that contributes to Hong Kong's high land costs.
Hong Kong is a significant worldwide financial centre as well as a renowned tourism destination. Because of this confluence of circumstances, land in Hong Kong is in continual demand.So, why is land in Hong Kong so expensive? The main factors are a lack of supply and a high demand.
Be prepared to pay a premium if you want to buy land in Hong Kong!