If you have ever dreamed about buying a holiday home - and let's face it, it's most people's dream - you may be interested in a newly-launched interactive tool. It shows you what the average costs for properties are in 36 countries around the world, and allows you to see just how much home you could buy with your salary?
Launched by property search company, Homes.com, the tool accompanies a study that looked at property prices across all 36 OECD countries, ranked by square foot. It found that Turkey offers the most affordable property with the cheapest price at $69/€61, followed by Mexico ($90.10/€79.88), Russia ($120.50/€106.83), Latvia ($135.70/€120.31) and Greece ($149.20/€132.28).
The most expensive location was found to be Switzerland at $967/€857. When it comes to the countries where you can get the most holiday home for your money, the study compared prices per square foot alongside the median annual household income in each country, assuming a salary multiplier of three times for affordability. It found that Turkey also leads the way here, with locals being able to purchase 742 square feet when earning a median household income of $17,067 (€15,131).
The US follows in second place with earnings of $44,049 (€39,053) affording 669.4 square feet of home. The third spot on the affordability ranking goes to Mexico at 462.5 ($13,891/€12, 221), followed by Russia with 414.7 ($16,657/€14,654) and Slovakia at 350 ($20,265/€17, 829).
You can check out the interactive calculator to see what your own salary could buy you in different property markets here.
