Every year, the Demographia think tank releases its International Housing Affordability Survey. This looks at 325 metropolitan markets (eg, Greater London) in the developed world, and ranks them according to how many multiples of the average annual salary it would cost to buy the average house.
On the map above, we've marked the ten most and the ten least affordable areas, according to the survey. The world's most expensive region is Hong Kong, where it costs 12 times the annual salary of HK$249,000 to buy the average property.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
-
What happens if you can’t pay your tax bill, and what is "Time to Pay"?Millions are due to file their tax return this Friday as the self-assessment deadline closes. Though the nightmare is not over until you pay the taxman what you owe - or face a penalty. But what happens if you can't afford to pay HMRC your tax bill, and what is "Time to Pay"?
-
What does Rachel Reeves’s plan for growth mean for UK investors?Rachel Reeves says she is going “further and faster” to kickstart the UK economy, but investors are unlikely to be persuaded
