Housing in Hong Kong are the most difficult financially to the local per capita income among several cities in the world and rapidly becoming less affordable, according to an international comparison conducted by the U.S. consultancy Demographia on behalf of local newspaper South China Morning Post, and data on the Hong Kong Government. The survey of apartment prices in Hong Kong is over 10 times greater than the amount of their annual income, which is most involved in the study of 272 city and property there receive a rating of very unreachable "with London, Sydney and New York. This conclusion is supported by the Hong Kong government data, as buyers who have paid the equivalent of 8.5 annual income for mid-sized apartment in the last quarter of last year compared to 7.6 in the second, an increase of nearly an annual income for a period of six months. However, buyers in Hong Kong spend a smaller share of their annual income on mortgage payments compared to other expensive cities - 44 percent, according to the study and 38.1 percent, according to the government. Chau Wing-Kwon, a professor in the faculty of land and construction in the University of Hong Kong, warns that was created "short-term illusion" of housing affordability for many low interest rates on mortgages, which will subside when interest rates rise to more realistic levels - probably next year. He explained that the biggest jump in prices of apartments and low increases in mortgage payments due to show how interest rates by only 0.8% to 2.1% seem achievable housing. "But this is only short-lived illusion. People think they can afford an expensive apartment with a relatively cheaper mortgage. Their dreams will burst and the apartment will become unattainable when interest rates rise. " The study, which is produced by six years, Demographia compares affordability of housing in 272 cities in six countries - U.S., Canada, UK, Ireland, Australia and New Zealand share prices of the median household median gross annual household income. This year at the request of Hong Kong newspaper in the study included Hong Kong, using official statistics. Hong Kong's rating is 10.4 and is calculated based on median house price of 2.18 million Hong Kong dollars and the median annual income of 210 thousand Hong Kong dollars. Rating of three or less is considered "accessible" of four to five 'serious unattainable, a top five - the "final unattainable. Of 272 analyzed the market in 2009, has 103 open market, of which 98 are in the U.S. and 5 - in Canada.