Ne dubito fortemente. E non ho mai sentito parlare della maggior parte delle fonti.
https://i.redd.it/7oynjt8n55je1.jpeg
di Comfortable-Bonus421
Ne dubito fortemente. E non ho mai sentito parlare della maggior parte delle fonti.
https://i.redd.it/7oynjt8n55je1.jpeg
di Comfortable-Bonus421
36 commenti
Full article here:
https://www.bestbrokers.com/forex-brokers/the-global-cost-of-homes-in-2024-comparing-the-real-mortgage-interest-rates-and-home-prices-around-the-world/
Is that even true?
_*Average gross wages and salaries used for annual income._
There you go. Gross income is worthless when the countries likely have very different tax regimes.
The average salary is 43k I believe.
If a couple is earning combined 80-90k per year and they have the 10pc deposit, it’s very possible to buy outside the Dublin area.
Fuckin’ Denmark!
I don’t know about the other countries but they seem to be using an accurate median salary for Ireland and if you take an average 80 sq/m house, they are estimating the price to be €365,000, which isn’t an outlandish estimate. Higher than the national average so it seems like they’re using fair metrics for Ireland anyway, can’t say anything about the other countries.
Average gross income is an utterly meaningless measure. Look at median net for a more holistic view.
Hope the mods ban OP for this sacrilege. It is IMPOSSIBLE to buy a house in this godforsaken kip and its housing CRISIS! No one has bought a house since 2008, that’s a fact.
They just forgot to tell everyone that there is no homes to buy or rent for that matter
I think people have no idea how unaffordable properties have become in most places. At least in Ireland the annual income multiplier on max mortgages keeps the prices less insane. There’s countries where the properties are out of reach for even someone earning the median wage.
5th you say? 🤭
The fuck is the source?
This sub, I swear to jaysus
No wonder the govt were voted back in
This looks accurate alright. While there is no doubting a housing crisis, it seems where a lot of people struggle is renting which makes the ability to save for a mortgage impossible.
Countries popular with Irish emigrants, Australia and Canada, might have more attractive rental options but buying a 3 bedroom family home is extortion compared to Ireland.
Fundamentally, the housing market is completely different than it was the last time it crashed. There is a huge lack of supply. And people can only get 3.5-4x their salary as a mortgage, with a pressure test to ensure they can still afford it if interest rates go up massively. People are not as exposed to housing as they were the last time with 100-120% mortgages, many multiples of what they earned.
Housing here does not appear to be overvalued relative to many other countries due to the strict lending rules or comparing median salary to median house prices. Buying is relatively affordable compared to Australia, New Zealand, Canada, Netherlands etc etc. It’s rent that is way out of whack here, and getting mortgage approval is restricted, meaning many are stuck in the rental cycle. But then the mortgage approval restrictions are also the reason why buying is not more expensive, so it’s a catch 22.
Price per SQM as a ratio to gross income is a silly way to measure this
I’m surprised that people don’t believe this. Buying a house in Ireland is generally affordable when compared to salaries. It’s the rent that’s insane.
Time to start learning Afrikaans lads.
Using average here isn’t a great way to approach it. Median would be better. Our average salary is skewed by a small number of massive earners.
Fuckin hell I might come back
Anyone citing Wikipedia amongst their sources needs to be taken with a bowl of salt.
Feck. Beaten by the Danes again. Its getting personal now.
I don’t know accurate this is, but it’s always worth repeating this: the worst part about our housing crisis is the rental crisis.
Statistics like this are like broken lamp posts.
They are great to learn on when trying to make a point but don’t actually shed any light on the situation.
Irish house prices are ridic cheap compared to similar in other EU countries – unless you want to buy in a tourist resort or a rural village with an average age of 90
The real question we need to ask is why ever developed country can’t build enough housing. It’s like it benefits investors.
This is true, the stats check out.
But this isn’t that Ireland is better than we thought it’s that the entire world is fucked.
Complete bullshit disregard altogether
I have a feeling that Dublin is throwing off the metric here on both sides of the chart.
yeah just ahead of Spain and Sweden, two famously expensive places, so clearly this chart is bullshit
well fuck. I guess i was earning below average in South Africa as well 😀
Yep, I never get how much people moan about housing here when it’s pretty affordable compared to most places. I think a big thing here is that people expect a 3 bed semi on a single salary when in other countries a 1 bed flat would be far more common.
Maybe the problem with the stats is that much of mainland Europe’s urban areas prefer smaller apartments, whereas Ireland needed larger detached houses, as the birth rate was well above 2.4 for many decades.
So a couple of things.
1.) What’s average? Tax earners bring up the average while low salaries bring about a decrease. If high income positions are isolated to specific areas and specific industries, that average gets skewed. There are far more minimum wage teenagers across the country as opposed to senior executives in tech companies based in the Docklands in Dublin.
2.) The same issue with general averages holds for house prices. Italy has a €1 home scheme, for essentially rural fixer-uppers, yet this does land them higher. House prices in rural locations with little in the way of local amenities, schools, doctors, far from employment opportunities, house prices will be lower than in suburban Dublin and Cork. Its not realistic to ask a 21 year old graduate, who doesn’t drive to rent a place in Gaoth Dobhair or Leitrim if the opportunities are in Dublin. Even if they did, the lack of supply for single room/bed units in these places would make that quite difficult.
In many places in Europe, public transport connections are stronger and there are less one-off housing, even in rural locations, housing is situated within towns and villages. This means more places are more accessible for those that may work in major cities. Less specialised service industry jobs are based in many of these countries, so average salaries may not be as high as here. The stress on our system is somewhat localised and is exacerbated by lack of infrastructure coverage across the country. If you work in Cork city, commute times from the Limerick direction are hampered by poor road connections, and lack of rail service, for example.
Those that can afford to, will choose to live nearer the city, which drives up prices in those place while not having an immediate impact on those further away. As lower income people are forced out, it drives prices in those remaining areas. For someone on 40k rent in, say, Charleville, may be relatively speaking more affordable, but that’s no good if they can’t get into Cork city centre for 9 on a Monday without spending nearly two hours in the car, if they have a car.
Tldr; national averages don’t tell us anything substantive and we do have a housing crisis, obviously.
I’m guessing they’re going off listed sale prices on auctioneer websites which are always ridiculously undervalued