The dream of buying your own home is shared by many, but the feasibility of this objective varies significantly from country to country. A recent study by BestBrokers.com reveals how many months of average salary it takes to purchase a 100 square meter house in different European countries. The analysis considers average property prices, net monthly income and inflation-adjusted mortgage interest rates, offering a detailed overview of disparities in access to housing in Europe.
The countries where it is easiest to buy a house
According to the report, Denmark is the most affordable country in Europe to buy a home. It takes 114 net salaries to purchase a 100 square meter home, equivalent to around 9.5 years of work. This is surprising, especially considering that Denmark was classified as the most expensive country in the European Union in 2023, with prices for goods and services 43% above the EU average, according to .
Next come Ireland and Sweden, where it takes 123 and 129 net salaries, respectively, to buy a house of the same size. These numbers translate into around 10 years of annual income, placing both countries at the top of the housing affordability ranking.
Countries where it is most difficult to purchase a home
At the other end of the table are countries in Central and Eastern Europe, where purchasing a home becomes an almost unattainable task for many families. In Slovakia, for example, it takes the equivalent of 297 net salaries to buy a 100 square meter house. If a worker manages to save half of their monthly net income, it would take 50 years of rigorous savings to achieve this goal.
The Czech Republic also presents alarming figures, with house prices requiring similar financial efforts. These data reflect the difficulties that many families face in these countries, worsened by lower average wages and relatively high property prices.
And outside Europe?
BestBrokers.com’s analysis also covers countries outside the European continent, highlighting even more pronounced disparities. South Africa leads as the most affordable country in the world, with a 100 square meter house costing 71 average net salaries. Next is the United States, where 76 net salaries are required, equivalent to around six years of annual income.
On the other hand, countries like Nepal and Turkey are at the bottom of the global ranking. In Nepal, purchasing a home requires an impressive 684 net salaries, while in Turkey the number reaches 631, equivalent to more than 52 years of work.
A theoretical count with practical limitations
It is important to note that the numbers presented are theoretical and do not consider basic expenses, such as food, temporary housing, child care or other charges that reduce the ability to save. Therefore, in practice, the time needed to save for a house may be substantially longer than indicated.
Furthermore, the report highlights that financial architecture and credit conditions vary between countries, directly influencing housing affordability. In countries where mortgage rates are higher, the total cost of purchasing a home increases considerably, making access to housing even more difficult for many.
A contrasting reality
This study illustrates how access to housing in Europe and around the world reflects significant economic inequalities. While in countries like Denmark, Ireland or Sweden the financial effort is relatively smaller, regions like Eastern Europe or Asian countries face monumental challenges.
However, the data also highlights the importance of public policies that promote affordable housing, especially in markets where property prices grow disproportionately relative to average incomes. With inflation and interest rates playing a crucial role in the real estate market, ensuring the right to housing remains a priority challenge for governments and societies.
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