10 Countries With the Best Housing Affordability in the World

TEMPO.CO, Jakarta - The Indonesian government previously issued a policy requiring all workers to enroll in the Public Housing Savings Account (Tapera) program. While the implementation is currently postponed, this initiative supposedly will assist low-income workers in becoming homeowners.

Indeed, owning a house is quite a challenge when the cost of living is persistently rising. However, some people around the globe do not face the similar problem as houses are affordable in their respective countries.

This article will explore several countries in the world renowned for their best housing affordability. Will your country be on this list? 

List of Countries with Best Housing Affordability

Insider Monkey has gathered data from the OECD Housing Prices report to see which countries offer the best housing affordability. The ranking system is based on two metrics: affordability and profitability of ownership.

Here are the top 10 countries with best housing affordability according to Insider Monkey :

1. South Korea

According to Insider Monkey’s findings, South Korea appears to offer the best housing affordability. While the average price of housing is pretty expensive in the country, especially in Seoul, reaching up to $680,000, the overall cost of living in South Korea is relatively low.

2. Finland

The average price of homes in Finland is set at $2,784 per square meter, as of 2022. The number has fallen from the previous year due to the slowing economy and rising interest rates.

3. Romania

Romania is experiencing a similar situation to Finland. The cost of houses in the country was approximately $1,700 per square meter in 2022, representing a 7.49 percent decline from the previous year. This trend was attributable to a decline in demand within the Romanian housing market.

4. Italy

Housing prices in Italy have remained relatively consistent over time. For a standard 2,000-square-foot house, the average price is approximately $380,000.

5. South Africa

South Africa is another country that offers some of the best housing affordability. The African country has experienced a modest decline in housing prices by 2.5 percent in the third quarter of 2023. Individuals can purchase a standard house at a price of approximately $74,000.

6. Poland

You can get a square meter of property in Poland for around $3,000. Insider Monkey reports that the country's affordability index stands at 94.72, while its profitability of ownership index shows the number of 108.91.

7. Sweden

Sweden saw a declining trend on housing pricing indes for over 1 percent in 2022. This resulted in the price of apartments having decreased to approximately $240,000. On the other hand, houses in popular areas of Sweden will cost approximately $5,000 per square meter.

8. Belgium

Housing prices in Belgium can vary quite a bit from one area to another. But, on average, you can expect to spend over $2,000 for a typical house and around $3,000 per square foot for an apartment.

9. Denmark

Insider Monkey included Denmark as one of the countries with the best housing affordability. The median selling price of a house in Denmark stood at $437,000 in June 2023.

10. Estonia

While Estonia offers good housing affordability, earlier projection in 2023 suggested that the price of houses in core areas could rise up to $3,500 per square meter and $2,500 in other areas.

Houses in these ten countries come at a reasonable price, making it easier for the citizens to be homeowners. You can also check our list of cheapest places to live in the world. Find out whether it is indeed affordable or not.

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