Complete article:
https://www.bestbrokers.com/forex-brokers/the-global-cost-of-homes-in-2024-comparing-the-real-mortgage-interest-rates-and-home-prices-around-the-world/

Extract about the picture:

'We calculated the real home price to real annual salary ratio and found that some of the most expensive residential properties are not in developed countries with high living standards but in smaller economies where the cost of homes might be low but so is the average income of residents. With a home price-to-income ratio of 81.45%, Turkey is the least affordable country to purchase a home in 2024.

Its top ranking is brought on mostly by its extremely high projected inflation rate of 55% year-over-year. This is not surprising considering that In June, annual inflation rose to 61.78%. The average monthly wage in the country is estimated at $549, which adds up to an annual salary of around $6,588. Due to the high expected inflation for the same period, however, the real salary drops to only $2,965.

Interestingly, South Korea appears among the countries where homes are the least affordable. It ranks 9th in this metric but not due to high inflation; the reason for its positioning is the extremely high real price of property ($10,318.46 per square metre) in comparison to the real income of residents, which is only $2,221 per month or $26,653 per year on average.

If we look at the most affordable countries, on the other hand, we see the United States surprisingly coming second after South Africa with a home price-to-income ratio of just 6.50%. Due to the high average annual salary of around $49,525 (in real terms), the fourth-highest on our list after only Switzerland, Denmark, and Australia, American home buyers have access to affordable housing compared to the rest of the world. Meanwhile, the U.S. ranks 29th in terms of real home prices, with an average of $3,220.11 per square metre, or $302.30 per square foot.

The rest of the countries on the list of affordable places for home buyers are mostly large economies or rich, high-GDP countries. South Africa tops the chart with a home price-to-income ratio of 6.22%, followed by the U.S. with 6.50%, Bahrain with 8.34%, and Denmark in with 9.91%.'

by FissileAlarm

9 comments

  1. The average completely hides the huge discrepancies the [US] has regarding housing prices and income.

    There is a far more significant difference between the rich and the poor, and this is in different regions (think California), which results in huge differences. Sure, houses are dirt cheap in the Rust Belt, but no jobs exist.

    These types of articles are entirely useless. Especially without the finer details of each country’s demographic and economic situation.

  2. Ik werk in Amsterdam. Ook al is het hier idd pokkeduur en heb ik bang voor de toekomst van mijn kind, Holy shit in en rond Amsterdam hebben ze er een zootje van gemaakt.

    Appartement van 70m²? tussen de 600.000€ en 800.000€ lol

  3. yes and the only reason is because we can still BUILD. but there are powerful forces in our society that are trying to regulate the ability to build new housing and rebuild away and we must resist them

  5. Vraag
    Real income = bruto??
    Want bij ons gaat daar nog meer af dan in al die andere landen… dus dan stijgt het % sterker dan in de andere landen.

  6. It doesn’t say anything about the availability of houses, let alone the location of the houses available

  7. Is dit loon bruto of netto? Gemiddeld jaarloon ligt op 57k in België. Veel websites weten trouwens niet dat je het maandloon x 13,92 moet doen ipv x 12.

  9. Much more affordable if you work in Luxembourg 😛

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