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How Much Homes Cost Around the World

Owning your own home can be costly. First, there’s the hurdle of actually buying it, and then unlike a rental, you’re also responsible for the maintenance and any home improvements – whether that’s upgrading your home with extra insulation and roof windows, cleaning your guttering, or replacing your cladding.

For many people, owning their own home is a key goal in life, but depending on where you live in the world, this could be much easier, or harder, when compared to other countries. 

To reveal the most affordable places to buy a home (spoiler alert - it’s not the UK!), we looked at how much homes cost on average in 109 countries around the world.

And because the cost of property only tells part of the story, we also looked at how much homes cost in relation to salaries. Here’s how different countries stack up on the affordability stakes. 

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The World’s Most Affordable Countries to Buy a Home In 

In Saudi Arabia, a 100 sqm city home will set you back around £67,000 on average. Annual salaries net out at around £15k on average which means when taking earning potential into account, it’s the most affordable place to buy a home in the world.

Based on the figures in our research, an average yearly salary is over 22% of the cost of an entire home in Saudi Arabia and if you didn’t spend anything of your salary, it would only take you four and a half years to save up the money to buy the home outright.

ushaiqer heritage village saudi arabia

Following behind in second and third place are South Africa and the United States, with their annual salaries equalling 18.17% and 15.01% of the cost of a 100sqm home in their respective countries.

Puerto Rico ranks in fourth position - with a yearly salary averaging £15,974.76 and the price of a 100sqm city pad costing £110,363, annual wages are around 14.5% of the cost of a home – which is only slightly more affordable than the United Arab Emirates (13.59%), which takes fifth place.

Palestine (12.73%), Oman (11.71%), Iceland (9.81%), Cyprus (9.55%) and Qatar (9.47%) make up the rest of the top ten most affordable countries.

The UK makes an appearance way down in 32nd position. On average annual salaries are around £23,655 in the UK, and a 100sqm home is going to set you back £356,940 on average. This means it would take just over 15 years on an annual salary, if you didn’t spend a penny of it, to be able to afford to buy a home.

The Top 50 Most Affordable Countries to Buy a Home In

Rank

Country

100sqm Price

Yearly Salary

Salary as %

Years to Buy

1

Saudi Arabia

£67,021.00

£15,027.72

22.42%

4.5

2

South Africa

£68,458.00

£12,441.12

18.17%

5.5

3

United States

£207,171.50

£31,102.92

15.01%

6.7

4

Puerto Rico

£110,363.00

£15,974.76

14.47%

6.9

5

United Arab Emirates

£176,851.00

£24,037.56

13.59%

7.4

6

Palestine

£56,950.00

£7,248.24

12.73%

7.9

7

Oman

£124,856.50

£14,616.00

11.71%

8.5

8

Iceland

£284,045.50

£27,864.48

9.81%

10.2

9

Cyprus

£129,848.50

£12,402.12

9.55%

10.5

10

Qatar

£281,502.50

£26,669.16

9.47%

10.6

11

Ireland

£287,569.50

£26,041.80

9.06%

11.0

12

Denmark

£358,857.50

£31,306.20

8.72%

11.5

13

Belgium

£246,952.50

£21,121.80

8.55%

11.7

14

Canada

£295,275.50

£25,180.92

8.53%

11.7

15

Australia

£382,233.00

£32,103.84

8.40%

11.9

16

Netherlands

£311,492.50

£26,128.32

8.39%

11.9

17

Mauritius

£53,086.00

£4,410.24

8.31%

12.0

18

Bahrain

£165,440.00

£13,610.04

8.23%

12.2

19

Sweden

£337,997.00

£26,376.72

7.80%

12.8

20

Bulgaria

£74,116.50

£5,720.64

7.72%

13.0

21

New Zealand

£331,389.00

£25,442.88

7.68%

13.0

22

Latvia

£108,030.00

£8,155.44

7.55%

13.2

23

Jordan

£67,568.00

£5,096.64

7.54%

13.3

24

Trinidad And Tobago

£98,005.50

£7,366.56

7.52%

13.3

25

Norway

£420,486.00

£31,277.64

7.44%

13.4

26

Finland

£325,716.50

£23,974.32

7.36%

13.6

27

Switzerland

£761,039.00

£54,536.28

7.17%

14.0

28

Italy

£209,378.00

£14,603.40

6.97%

14.3

29

Turkey

£49,395.50

£3,396.96

6.88%

14.5

30

Mexico

£68,358.50

£4,683.96

6.85%

14.6

31

Germany

£379,628.50

£25,911.84

6.83%

14.7

32

United Kingdom

£356,940.00

£23,655.00

6.63%

15.1

33

Spain

£207,998.50

£13,709.52

6.59%

15.2

34

Iraq

£76,302.50

£4,899.72

6.42%

15.6

35

Estonia

£183,164.50

£11,645.64

6.36%

15.7

36

Kazakhstan

£57,871.50

£3,654.72

6.32%

15.8

37

France

£368,845.00

£23,261.04

6.31%

15.9

38

Malaysia

£114,585.50

£7,175.88

6.26%

16.0

39

Bolivia

£69,929.00

£4,296.36

6.14%

16.3

40

Greece

£124,005.00

£7,438.68

6.00%

16.7

41

Honduras

£73,984.50

£4,426.80

5.98%

16.7

42

Costa Rica

£109,043.00

£6,465.72

5.93%

16.9

43

Romania

£100,047.00

£5,922.48

5.92%

16.9

44

India

£66,095.00

£3,880.80

5.87%

17.0

45

Libya

£100,375.00

£5,882.52

5.86%

17.1

46

Kosovo (Disputed Territory)

£73,403.50

£4,283.52

5.84%

17.1

47

Bosnia And Herzegovina

£92,580.00

£5,176.44

5.59%

17.9

48

Moldova

£64,246.00

£3,586.68

5.58%

17.9

49

Hungary

£131,542.50

£7,260.72

5.52%

18.1

50

Austria

£376,826.50

£20,518.08

5.44%

18.4

The Most Affordable Continents To Buy A Home In

aerial view of coastal home near cape town at sunset

Two of the top 50 most affordable countries are in Africa – South Africa in second position and Mauritius in 17th place.

Ten countries in Asia make the list: After top spot Saudi Arabia, UAE is in fifth position, Palestine comes sixth, Oman takes seventh place, Qatar is in 10th, Bahrain is 18th, Jordan is 23rd, Malaysia is 38th and Iraq comes in, in 34th place. India just makes the top 50 in 44th position.

North America boasts six entries – after third place America, Puerto Rico is in fourth place, Canada comes in 14th, Mexico takes 30th, Honduras is 41st and Costa Rica comes in in 42nd position.

Oceania’s two countries are Australia in 15th and New Zealand in 21st. And, South America makes the list twice with Trinidad and Tobago in 24th and Bolivia in 39th place.

The continent with the most appearances is Europe, claiming more than 50% of places, with a massive 27 countries in the top 50 list.

The World’s Least Affordable Countries to Buy a Home In

brown and white house in accra ghana surrounded by trees at night time

At the other end of scale, Ghana appears to be the least affordable place to buy a home of the 109 countries analysed. With an average annual salary of just over £2,500, and an average 100sqm home costing £377,032, it would take more than 149 years on an average salary, if nothing was ever spent, to save up enough to buy a home outright – that equates to the average annual salary being less than 1% of the total cost of a home.

In second place is Sri Lanka. With an average salary of just over £2,000, the average salary is 1.33% of the cost of a home in the country (which is £157,077).

Third place Hong Kong has the highest property prices in the entire study – netting out over £2 million for an average 100 sqm home. On average, a yearly salary in Hong Kong would bring in almost £28k, which is the equivalent to 1.36% when compared to the cost a home.

Jamaica (1.63%) and Iran (1.72%) make up the rest of the top five least affordable countries in which to purchase a home, when factoring in purchasing power.

The Top 50 Least Affordable Countries to Buy a Home In

Rank

Country

100sqm Price

Yearly Salary

Salary as %

Years to Buy

1

Ghana

£377,032.00

£2,525.28

0.67%

149.3

2

Sri Lanka

£157,077.50

£2,095.20

1.33%

75.0

3

Hong Kong

£2,045,824.00

£27,874.32

1.36%

73.4

4

Jamaica

£341,877.50

£5,583.36

1.63%

61.2

5

Iran

£156,547.50

£2,698.68

1.72%

58.0

6

Philippines

£130,598.00

£2,583.96

1.98%

50.5

7

South Korea

£926,201.50

£19,617.00

2.12%

47.2

8

China

£430,354.00

£9,261.00

2.15%

46.5

9

Argentina

£160,414.00

£3,564.00

2.22%

45.0

10

Ethiopia

£76,535.50

£1,734.96

2.27%

44.1

11

Kenya

£150,894.00

£3,559.08

2.36%

42.4

12

Nepal

£72,804.00

£1,925.88

2.65%

37.8

13

Indonesia

£97,834.50

£2,621.88

2.68%

37.3

14

Zimbabwe

£105,745.50

£2,843.04

2.69%

37.2

15

Taiwan

£462,373.50

£12,589.68

2.72%

36.7

16

Thailand

£179,429.50

£4,918.68

2.74%

36.5

17

Vietnam

£128,941.00

£3,924.60

3.04%

32.9

18

Peru

£104,440.00

£3,289.32

3.15%

31.8

19

Uruguay

£161,793.50

£5,307.60

3.28%

30.5

20

Azerbaijan

£79,795.50

£2,689.32

3.37%

29.7

21

Singapore

£1,054,195.50

£35,669.76

3.38%

29.6

22

Algeria

£62,323.00

£2,125.92

3.41%

29.3

23

Chile

£147,906.00

£5,075.76

3.43%

29.1

24

Armenia

£98,275.00

£3,463.92

3.52%

28.4

25

Uzbekistan

£60,167.00

£2,155.92

3.58%

27.9

26

Colombia

£77,527.50

£2,808.96

3.62%

27.6

27

Brazil

£81,589.50

£3,001.68

3.68%

27.2

28

Paraguay

£74,860.00

£2,772.36

3.70%

27.0

29

Belarus

£96,256.00

£3,648.12

3.79%

26.4

30

Poland

£203,609.00

£7,738.92

3.80%

26.3

31

Serbia

£123,130.00

£4,703.76

3.82%

26.2

32

El Salvador

£83,654.50

£3,201.12

3.83%

26.1

33

Nigeria

£41,045.50

£1,575.00

3.84%

26.1

34

Russia

£134,215.00

£5,256.24

3.92%

25.5

35

Bangladesh

£60,650.00

£2,512.32

4.14%

24.1

36

Montenegro

£119,111.00

£4,992.36

4.19%

23.9

37

Croatia

£182,959.50

£7,723.08

4.22%

23.7

38

Albania

£82,599.50

£3,534.96

4.28%

23.4

39

Guatemala

£96,605.50

£4,140.36

4.29%

23.3

40

Malta

£265,408.50

£11,385.00

4.29%

23.3

41

Czech Republic

£252,149.00

£11,075.04

4.39%

22.8

42

Pakistan

£39,750.00

£1,748.40

4.40%

22.7

43

Luxembourg

£831,631.00

£37,332.84

4.49%

22.3

44

Ecuador

£88,580.50

£4,020.36

4.54%

22.0

45

Dominican Republic

£63,381.00

£2,879.52

4.54%

22.0

46

Israel

£502,730.50

£23,234.52

4.62%

21.6

47

Kuwait

£344,894.50

£16,223.16

4.70%

21.3

48

Morocco

£84,316.00

£3,966.96

4.70%

21.3

49

Portugal

£180,254.00

£8,490.24

4.71%

21.2

50

North Macedonia

£73,543.50

£3,566.52

4.85%

20.6

The Top 20 Countries with the Highest Property Prices

Hong Kong Skyline from Victoria Peak

At almost twice the cost of second place Singapore, Hong Kong with a colossal property cost of over £2 million for a 100 sqm home, has the highest average real estate costs in the world.

Singapore, although significantly less than Hong Kong, is still one of the most unaffordable places for property buyers, with a massive price tag of almost £1.05 million for a 100sqm home.

South Korea is third, with the cost of a 100 sqm home averaging out at £926,201. Luxembourg is fourth with a price tag of over £831,000 and Switzerland is in fifth with homes on average costing £761,039 for 100 sqm of space.

According to the research, homes in the UK are the 17th most expensive in the world, with an average home in the city costing around £356,940.

Property Price Rank

Affordability Rank

Country

100sqm Price

Yearly Salary

Salary %

Years to Buy

1

107

Hong Kong

£2,045,824.00

£27,874.32

1.36%

73.4

2

89

Singapore

£1,054,195.50

£35,669.76

3.38%

29.6

3

103

South Korea

£926,201.50

£19,617.00

2.12%

47.2

4

67

Luxembourg

£831,631.00

£37,332.84

4.49%

22.3

5

27

Switzerland

£761,039.00

£54,536.28

7.17%

14.0

6

64

Israel

£502,730.50

£23,967.84

4.62%

21.6

7

56

Japan

£467,064.00

£9,261.00

5.13%

19.5

8

95

Taiwan

£462,373.50

£12,589.68

2.72%

36.7

9

102

China

£430,354.00

£23,234.52

2.15%

46.5

10

25

Norway

£420,486.00

£31,277.64

7.44%

13.4

11

15

Australia

£382,233.00

£16,223.16

8.40%

11.9

12

31

Germany

£379,628.50

£32,103.84

6.83%

14.7

13

109

Ghana

£377,032.00

£25,911.84

0.67%

149.3

14

50

Austria

£376,826.50

£20,518.08

5.44%

18.4

15

37

France

£368,845.00

£23,261.04

6.31%

15.9

16

12

Denmark

£358,857.50

£31,306.20

8.72%

11.5

17

32

United Kingdom

£356,940.00

£23,655.00

6.63%

15.1

18

63

Kuwait

£344,894.50

£23,974.32

4.70%

21.3

19

106

Jamaica

£341,877.50

£26,376.72

1.63%

61.2

20

19

Sweden

£337,997.00

£25,442.88

7.80%

12.8

The Top 20 Countries with the Highest Wages in the World

alpine chalets in grimentz switzerland

With high property prices come high wages in Switzerland – on average yearly salaries in Switzerland come in at almost £55k, which would mean if you could resist spending any of it, it would only take you 14 years to save up enough to buy a £761,000 home.

Behind Switzerland, is Luxembourg, with an average annual salary of just over £37k. Singapore’s salaries average at around £35.5k, Australia’s come in at slightly more than £32k and rounding off the top five, is Denmark with an average yearly salary of just over £31k.

The UK just makes the top 20 in 20th place, with an annual salary of around £23.5k.

Salary Rank

Affordability Rank

Country

100sqm Price

Yearly Salary

Salary %

Years to Buy

1

27

Switzerland

£761,039.00

£54,536.28

7.17%

14.0

2

67

Luxembourg

£831,631.00

£37,332.84

4.49%

22.3

3

89

Singapore

£1,054,195.50

£35,669.76

3.38%

29.6

4

15

Australia

£382,233.00

£32,103.84

8.40%

11.9

5

12

Denmark

£358,857.50

£31,306.20

8.72%

11.5

6

25

Norway

£420,486.00

£31,277.64

7.44%

13.4

7

3

United States

£207,171.50

£31,102.92

15.01%

6.7

8

107

Hong Kong

£2,045,824.00

£27,874.32

1.36%

73.4

9

8

Iceland

£284,045.50

£27,864.48

9.81%

10.2

10

10

Qatar

£281,502.50

£26,669.16

9.47%

10.6

11

19

Sweden

£337,997.00

£26,376.72

7.80%

12.8

12

16

Netherlands

£311,492.50

£26,128.32

8.39%

11.9

13

11

Ireland

£287,569.50

£26,041.80

9.06%

11.0

14

31

Germany

£379,628.50

£25,911.84

6.83%

14.7

15

21

New Zealand

£331,389.00

£25,442.88

7.68%

13.0

16

14

Canada

£295,275.50

£25,180.92

8.53%

11.7

17

5

UAE

£176,851.00

£24,037.56

13.59%

7.4

18

26

Finland

£325,716.50

£23,974.32

7.36%

13.6

19

56

Japan

£467,064.00

£23,967.84

5.13%

19.5

20

32

United Kingdom

£356,940.00

£23,655.00

6.63%

15.1

 

---

Methodology and Sources:

We used Numbeo sources (links below) to discover the price of one meter of real estate (in the city and outside the city) and then calculated the average of these two figures, to reveal the average cost of a metre of real estate for each country. We then multiplied this by 100 to reveal the cost of an average 100sqm home in 109 countries.

We also used Numbeo data to identify the average monthly salary in the same countries. We multiplied this by 12 to get a yearly salary figure and then divided the yearly salary by the cost of a 100 sqm home to reveal the annual salary as a percentage of the cost of a home.

We used these percentages to rank the 100 most and least affordable countries to buy a house in.

Data correct as of 25/10/2021: