1. Government policy is to restrict building and to create a shortage in the price of land which causes prices to skyrocket. It turns out that large numbers of people in Hong Kong benefit from the policy, so it's not going to change.
2. You have a lot of expats and hyper-rich people pumping money into Hong Kong. This turns out to be bad for anyone that isn't hyper-rich because they don't care about prices, and pumping money in increases the price levels.
3. It turns out that large sectors of Hong Kong society don't get hit by the high prices. If you are over 40, the odds are good that you own your own property which means high rents are good for you. If you are working class, then it turns out that you benefit from the high prices and also the government very heavily restricts immigration which keeps wages in HK for the working class high. The government has decent subsidies for the poor to make sure that they aren't angry enough to protest.
4. There's something of a dual economy. You'll find that prices in wet markets are substantially lower than in the supermarkets
i love hong kongЁЯШН
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