Hong Kong is first in a lot of good ways, things we residents can be proud of: high income, lack of corruption, low taxes, often voted "freest economy in the world" (this last being debatable; though when I was Australia-based and investigating business in Asia on behalf of Australian companies, I did find Hong Kong to be by far the most business-friendly in Asia, with easy company registration (one day), a business-friendly and uncorrupt bureaucracy, low taxes....). Another one: the lowest murder rates in the world. In short, a safe yet vibrant city.
And there are the downsides: the awful pollution, and housing prices. Tom Holland in the South China Morning Post today posts a chart showing just that, above. (at the bottom of this story).