a
Print
version

Saudi Arabia is Recognized as the Most Affordable Country in the World to Buy a Home

  • 34
The top three also included South Africa and the United States.

Based on a new global housing affordability study conducted by the British building materials supplier Roofing Megastore, Saudi Arabia is the most affordable country in the world to buy a home in 2021. The average annual salary in the state is $20,354, and the cost of housing with an area of 100 square meters is only $90,774.

To compile the rating, the Roofing Megastore research group calculated the average cost per square meter of real estate in 109 countries around the world. To get a more accurate picture of accessibility, the average salary of local residents after taxes was taken into account.

Also read: Extremely Cheap Real Estate in Finland. Is It Worth It?

The top ten most affordable countries in the world to buy a house includes:

Country Annual salary, $ The cost of housing with an area of 100 sq.m, $
1 Saudi Arabia 20 354 90 774
2 South Africa 16 851 92 720
3 USA 42 128 280 596
4 Puerto Rico 21 637 149 477
5 UAE 32 558 239 530
6 Palestine 9 817 77 134
7 Oman 19 797 169 107
8 Iceland 37 742 384 716
9 Cyprus 16 798 175 869
10 Katar 36 123 381 271

According to the rating, Nepal is the most inaccessible country for buying real estate. The average annual salary is only $2,608, and the average property value is almost $2.8 million. That is, local residents will have to save more than a thousand years to buy a home.

Also, the most inaccessible countries were Ethiopia, Thailand, Ghana, Indonesia and Vietnam. In all these states, local residents with an average salary should save for their own housing for 100-200 years. Even in Hong Kong, one of the most "hot" housing markets in the world, the situation is better – you will have to save for your own house for only 73 years.

Source: The World Property Journal

Quoting conditions of Prian.info materials

Share the link:
Tags: Real Estate, Buying procedure

Read also

Property prices in cheaper areas of Dubai are on the rise
Villas have become especially expensive.
Goldman Sachs believes in the US housing market recovery
The analysts have revised their forecast upwards.
Northern Cyprus is changing the rules for selling housing to foreigners
Local authorities are concerned about the influx of foreign real estate buyers. On one hand, it's...
RICS and KPMG have announced the results of the second quarter of 2023 in the real estate market of Cyprus
The rapid growth of property prices and rental rates continues.
The European hotel sector has fully recovered from the pandemic. However, there are nuances
Eurostat has named the most successful countries in this regard.
The easiest сountries to get сitizenship in the EU have been revealed
The study was conducted by the Canadian immigration agency CanadaCIS.

Interesting to read