According to a new report from BestBrokers ⁇ , Denmark is the most affordable country to buy a house in Europe according to the average income.
According to the findings of BestBrokers ⁇ , the IMF, real estate price expert Numbeo and TradingEconomics ⁇ in data, the average price of a 100-square-meter property corresponds to a net salary of 114 in Denmark ⁇ , ranking the Northern country as the most affordable country to buy a house in Europe ⁇ . .
Meanwhile, Denmark became the most expensive country in the EU in 2023 ⁇ (prices for goods and services according to Eurostat ⁇ %It was over 43) and the annual average earnings was the seventh highest in Europe.
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In the report, ⁇ As prices and incomes differ significantly from one country to another, the BestBrokers team decided to examine the real estate market based on how many months of salary is required to buy a house in various European countries. ⁇
The affordable price ranking is based on data that examines ⁇ real ⁇ mortgage interest rates, which are housing loan interest rates adjusted for housing prices, average net monthly income, inflation and inflation across 62 countries in the world.
Where in Europe does it take the longest to save money to buy a house?
According to this report, Ireland and Sweden are the second and third most affordable countries in Europe, capable of buying a 100-square-meter house with a net salary of 123 and 129, respectively. That's about a 10-year annual salary.
But there's one small problem, and that's that the census is purely theoretical. This means that spending on food, housing, childcare, or anything a person might need or want doesn't count.
In Europe, the Czech Republic and Slovakia are in the last place. In the latter, the average cost of a house of 100 square meters is 297 times the average salary that can be earned in almost 25 years. If someone can save half of their net salary, they'll still be thinking about the 50 years they've spent saving heavily to own a family home.
Real mortgage interest rates for the third quarter of 2024 in Europe
One of the most important data to analyze home prices and affordability was the counting of real mortgages in each country. The study used data on mortgage rates and projected inflation rates for the third quarter of 2024 to learn about the ⁇ real ⁇ mortgage rates for the third quarter of 2024 in various countries.
The report says that the actual mortgage interest rate reflects the actual cost of funds for the borrower and the actual return for the lender.
According to the report, the highest real mortgage interest rate is in Russia, where the state-sponsored mortgage program ended in July 2024.
According to the report, the nominal mortgage rate for the third quarter of 2024 %It's expected to be around 20.3. Do this for me %They adjusted it with projected inflation of 8 ⁇ , which means that the real mortgage rate is 2024 ⁇ te %He predicted it would be at 12.3. July-September 2024 period.
According to this calculation, real mortgage rates are high among other European countries. %6.65 in Latvia and %Poland is 5.1. In Germany it is 1.85% and in England it is 1.77%. the French (France%1,13), from Italy (%0.99) and the Netherlands (%0.96) in Europe's next largest economies. %It is around 1.
For example, in Belgium (-%0.52) and in Sweden (-%1.21) Negative real mortgage rates: ⁇ Do not suggest that there home buyers will eventually not pay interest on their mortgages; instead of borrowing the actual (nominal) cost may have fallen ⁇ he read the study.
How much does a 100-square-meter house cost per month around the world?
The country in the world where it is most convenient to buy a house according to the fees is South Africa, where people need 71 times the average fee to own a property of 100 square meters.
The United States ranked second in this ranking. However, property prices vary greatly from state to state. The report found that people in the U.S. need an average wage of 76 months to buy a home. This is equivalent to about six years of annual salary.
At the bottom of the ranking is Nepal, with 684 salaries required to buy a house. He is followed by Turkey with 631 people.Equivalent to 52.5 years of earnings.
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