Ask any millennial and they’ll tell you that the cost of living has increased dramatically over the last 30 years. While the generation before consisted of homeowners with large families, those born between 1981 and 1996 and trying to keep their heads above water.
Recessions, pandemics, wars, and a climate crisis have all contributed to the price of daily living, but there are some cities where things balance out a bit more.
NetCredit chose to crunch some numbers and calculated the median house price in 73 capitals around the globe.
More than 800,000 property listings were analyzed by the US lending company. They looked at the average monthly net salary for each city, and crossed it with the price of a square-meter per home.
If you are planning to enter the housing market, beware of Paris and Tehran. One square-meter in the French capital costs $10,000; while the average property in Iran’s leading city costs 158.4 times the average yearly salary.
Monaco is where the rich and famous choose to vacation and it shows. The capital has the most expensive homes in the world, averaging $4,475,000.
It’s not all bad news, though. South Africa’s administrative capital, Pretoria, boasts the best affordability, with the average home costing just 4.7 times the average salary.