The housing prices across SA, UK, AU, and Netherlands
In case you were wondering, buying a house in South Africa is still more affordable on an average salary to any other competing country...
"Across the globe, housing prices have risen in line with harsher interest rates while consumer spending is crunched due to rising inflation." (Business Tech)
In other words, it's always daunting making the decision to purchase property.
But then when is the right time, when you look at families who want to lay down roots, or those who want to materialise on an investment?
It certainly is a tricky position and it prompted us to look into the difference in purchasing locally and abroad.
Specifically when it comes to your monthly earnings.
"The average South African earning roughly R21,000 net income a month, can reasonably afford a home loan of R745,598. If two people were to live together and both earn the same salary, the household could afford a home of roughly R1,491,196." (Business Tech)
And if you've been searching, you will know that that total doesn't always translate into your dream home.
But more than that, if you thinking of looking outside SA, to areas like the United Kingdom, Europe, and Australia, then you don't have a strong purchasing power.
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Due to the economy, it leaves you with little to no option. Since the UK and Australia have become popular emigration spots for South Africans, it's only natural to check out their housing.
Therefore, BusinessTech looked at what a three-bedroom house looks like and could roughly cost in South African emigration hotspots:
In Monteseel, KZN, a 3-bedroom house could cost R1,900,000. Whilst a property in Manchester, UK could retail for R2,662,656/£130,000.
A 3 Bedroom Town House for sale in Amsterdam, could go for R27,199,170/€1,500,000. While in Australia, a 3 Bedroom House for Sale in Queenton, Queensland is going for R1,993,941/$170,000.
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