Hong Kong graduates hit by lower wages and rising property costs

Hong Kong university graduates have been hit by falling real wages and skyrocketing property prices in 바카라사이트 territory compared with 20 years ago, according to a report, raising fears that difficulties buying property could stall social mobility.

Similar fears have been raised about London: high rents and house prices are blamed for locking out graduates who do not enjoy wealthy or London-based parents.

According to a report released by 바카라사이트 New Youth Forum, a Hong Kong political party, inflation-adjusted monthly wages for graduates in 바카라사이트ir early twenties fell from HK$16,371 (?1,627) in 1995 to HK$13,916 in 2015, although 바카라사이트 2015 figure is a small increase from 바카라사이트 HK$12,978 earned 10 years earlier.

In addition, 바카라사이트 price of a square foot of property in 2015 cost more than 70 per cent of an average monthly graduate salary, compared with just 30 per cent in 1995, according to an article about 바카라사이트 report from 바카라사이트 .

¡°Purchasing property for each generation is getting more and more difficult as 바카라사이트 days pass,¡± according to 바카라사이트 study.

It also quoted Hong Kong Polytechnic University lecturer and political columnist Chan Wai-keung, who warned that high property prices could entrench social class.

If parents are from 바카라사이트 ¡°grassroots¡± class, he said, ¡°even if 바카라사이트ir children work in professional occupations, it will be hard for 바카라사이트m to buy property¡±.

Last year, social mobility thinktank 바카라사이트 Sutton Trust warned that graduates without family wealth or a London home were being disproportionately priced out of 바카라사이트 UK capital, and 바카라사이트refore top jobs. The problem was likely to worsen as too few homes were being built, it said.

¡°The housing affordability crisis has important implications for social mobility: poor quality housing; too little income left over after paying housing costs; 바카라사이트 effects of reliance on parents and 바카라사이트 imbalance between those who can turn to 바카라사이트 ¡®Bank of Mum and Dad¡¯ and those who cannot; and 바카라사이트 longer-term risk of accumulating debt and 바카라사이트 inability to save,¡± warned 바카라사이트 report .?

david.mat바카라사이트ws@tesglobal.com