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Top Five Least Affordable Major Metro Areas HONG KONG, CHINA Median Multiple: 12.6 Ranking: 81 Median Pricing: $405,964 Median Household Income: $32,110 FAST FACTS: Hong Kong is the least affordable market worldwide. The 12.6 median multiple recorded in Hong Kong is the most unaffordable market ranking in the history of Demographia's annual survey. HOT PROPERTY: Luxury condominium located on Stanley Main Beach; 6 Stanley Beach Road. The mega manse features a private rooftop terrace, private garden, and four bedrooms in 4,242 square feet. On the market for $32,821,372 (U.S. dollars). VANCOUVER, CANADA Median Multiple: 10.6 Ranking: 80 Median Pricing: $681,873 Median Household Income: $64,117 FAST FACTS: Vancouver's median mul- tiple rose in 2011 to surpass Sydney, Australia, as the world's second least af- fordable market. Canada's national media multiple is now 3.4, but as recently as 2000, the country was considered the "most af- fordable" in the world. HOT PROPERTY: The Villa Russe mansion, located in one of Vancouver's most sought-after historic areas; 3390 The Crescent. The estate is in use as a bed and breakfast but may be purchased as a private residence. The 41,817-square- foot property, built in 1921, is a certified green home. On the market for $31.9 million (U.S. dollars). SYDNEY, AUSTRALIA Median Multiple: 9.2 Ranking: 79 Median Pricing: $681,140 Median Household Income: $74,139 FAST FACTS: Sydney's ranking fell during 2011, moving it from the second to the third least affordable city globally. All major metropolitan areas in Australia, excluding Sydney, previously boasted strong affordability rankings of 3.0 or less as recently as the 1980s. HOT PROPERTY: Oceanfront home on Fisherman's Beach; 1A Seaview Parade, Collaroy. Geoffrey Watson-designed property features more than 7,500 feet of beachfront with views to the Central Coast; house boasts five bedrooms, a central courtyard, and multiple terraces. Listing price available upon request. MELBOURNE, AUSTRALIA Median Multiple: 8.4 Ranking: 78 Median Pricing: $605,719 Median Household Income: $72,323 FAST FACTS: The total affordability ranking among Australia's major metropolitan markets, including Melbourne, stands at a median multiple of 6.7. Nationally, Australia ranks as the "least affordable" country within Demographia's survey. HOT PROPERTY: The Shangri-La mansion on Melbourne Beach; 405 Atlantic St. Oceanfront estate features an elevator, is fully computer controlled, and the 8,707-square-foot home sits on nearly an acre of beach frontage property. On the market for $3.65 million (U.S. dollars). SAN JOSE, CALIFORNIA Median Multiple: 6.9 Ranking: 77 Median Pricing: $587,500 Median Household Income: $84,900 FAST FACTS: San Jose's median multiple is only slightly higher than that of San Francisco, which at 6.7 makes it the 76th least affordable major market globally. Smaller U.S. market, Honolulu, Hawaii, is the least affordable in the country, with a median multiple of 8.7. HOT PROPERTY: Traditional California home on 1.32 acres; 18590 Almaden Road. Current zoning provides opportunity to subdivide; property features 3,471-square-foot main house and a separate guest cottage. On the market for $2.188 million; price was recently reduced by $300,000. Source: 8th Annual Demographia International Housing Affordability Survey: 2012. THE M REPORT | 13