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A study carried out by Compare The Market has revealed that Luxembourg is the third least affordable country to buy a property in the world.
The study analysed average property prices per square metre as well as the average disposable household income in 38 countries to calculate the cost per square metre as a percentage of annual income.
The least affordable country for property was South Korea. With the highest price per square metre (€11,396.85) and an average household disposable income of €19,199.27, its affordability ratio came to around 59.4%.
Israel was the second least affordable country. Although it had a lower property price of €6,667.35 per square metre, Israel had an average disposable income of €21,814.81, bringing the affordability ratio to around 30.6%.
The third least affordable country according to Compare The Market was Luxembourg, with an affordability ratio of 28.9%. The average disposable income in Luxembourg was fairly high compared to other countries at an average of €34,450.25, whilst the property price averaged around €9,962.76 per square metre.
Learn more / En savoir plus / Mehr erfahren:
- https://www.scoop.it/t/luxembourg-europe/?tag=Real+Estate
- https://www.scoop.it/t/luxembourg-europe/?tag=loyer
- https://www.scoop.it/topic/luxembourg-europe/?&tag=Logement
Via Gust MEES
A study carried out by Compare The Market has revealed that Luxembourg is the third least affordable country to buy a property in the world.
The study analysed average property prices per square metre as well as the average disposable household income in 38 countries to calculate the cost per square metre as a percentage of annual income.
The least affordable country for property was South Korea. With the highest price per square metre (€11,396.85) and an average household disposable income of €19,199.27, its affordability ratio came to around 59.4%.
Israel was the second least affordable country. Although it had a lower property price of €6,667.35 per square metre, Israel had an average disposable income of €21,814.81, bringing the affordability ratio to around 30.6%.
The third least affordable country according to Compare The Market was Luxembourg, with an affordability ratio of 28.9%. The average disposable income in Luxembourg was fairly high compared to other countries at an average of €34,450.25, whilst the property price averaged around €9,962.76 per square metre.
Learn more / En savoir plus / Mehr erfahren:
- https://www.scoop.it/t/luxembourg-europe/?tag=Real+Estate
- https://www.scoop.it/t/luxembourg-europe/?tag=loyer
- https://www.scoop.it/topic/luxembourg-europe/?&tag=Logement