Last month a study by the OECD, which compared prices with local wages and rents, suggested Belgium, Norway and Canada were the most expensive markets compared with their own long-term averages, followed by New Zealand, France and Australia (see OECD the chart below).
For cheap property, the research pointed to Portugal, Ireland, Germany and Japan.
It is a bit scary to see both Price-to-Rent and Price-to-income to be so high, making housing not very affordable to most of the people. On another hand this might be a sign of market adjustment coming up.
One thing to remember is that numbers are general for entire country - this is macro economics level. Real Estate market however is always micro economic and there might be markets that are still affordable and good place for investment even when the general market is not
No comments:
Post a Comment