Based on the price-to-income ratio compiled by the International Monetary Fund, Chinese seven large cities include in the most expensive real estate in the world. The ranks of Chinese housing price are even in front of Tokyo, London and New York.

Like Us on Facebook

The ten cities appeared in the list are Beijing, Shanghai, Shenzhen, Hong Kong, Tianjin, Guangzhou and Chongqing from China, plus Tokyo, Sydney and London.

It is said International Monetary Fund uses the price-to-income ratio to reflect whether local people can afford such prices, instead of the absolute value for real estate. In New York, the average price for an apartment is 6.2 times more than an ordinary family's annual income. But if a person from Beijing wants to buy a house in the central area of ​​Beijing, it will cost him nearly 25 years' earnings.

According to "Research on Impact Factors of Guangzhou Housing Price", which was released by Guangzhou Development Institute of Guangzhou University not long ago, the price-to-income ratio in Guangzhou is 7.55. A middle class family in Guangzhou will spend 7-years' income without eating or drinking to afford a house. If they want to buy a new house, it will need nine year for the middle class family to achieve the goal.

The average salaries of the cities in the mainland on the list are: Shanghai (7112 yuan), Shenzhen (6787 yuan), Beijing (5453 yuan), Guangzhou (4917 yuan), Tianjin (3810 yuan), Chongqing (3370 yuan). And the average prices of new houses in the above cities are: Shanghai (28265 yuan per square meter), Shenzhen (27135 yuan per square meter), Beijing (27439 yuan per square meter), Guangzhou (16703 yuan per square meter), Tianjin (10333 yuan per square meter), Chongqing (7984 yuan per square meter).