The latest data from Wind Information indicates that the price-income ratio for the housing markets of 16 major Chinese cities is above 10, led by the Shenzhen, Shanghai and Beijing.
The price-income ratio for housing in Shenzhen currently stands at 32.44, while in Shanghai and Beijing the figures are 26.08 and 25.48 respectively.
Southern cities are represented prominently on the list, with Fuzhou’s price-income ratio of 14.87 putting it at fourth, followed by Hangzhou (13.43), and the Hainan Island city of Haikou (13.18).
Other cities with housing price-income ratios above 10 and spread across the length and breadth of China, and include Tianjin (12.70), Nanjing (12.36), Zhengzhou (11.97), Nanchang (11.12), Lanzhou (10.52), Chongqing (10.43), Taiyuan (10.26), Shijiazhuang (10.24) and Naning (10.14).
Housing price-income ratios have become a topic of renewed focus in the media of late, following media reports that even employees of Shenzhen-headquartered telecommunications giant Huawei would need to save for well over a decade in order to purchase a house,