It’s more comfortable living in Manila, but at what cost? | via philstarlife
The study came to this conclusion after the researchers
analyzed over 800,000 online property listings for 73 global capitals and calculated the median house price for each city in total and per square meterused this figure to calculate affordability and the number of years the average earner would need to work to buy a median-value home. The result revealed that a median-value home in Manila can be paid off with the equivalent of 42.2 local annual salaries - making it the 8th least affordable capital city globally.
It was topped by Tehran, Iran; Havana, Cuba; Monaco, Monaco; Islamabad, Pakistan; Cairo, Egypt; Hanoi, Vietnam; and Santo Domingo, Dominican Republic. The two capital cities that followed are Phnom Penh in Cambodia and Beijing in China. On the other side of the spectrum, the capital city with the most affordable homes is Pretoria in South Africa. It is followed by Muscat, Oman; Belfast, Northern Ireland; Bucharest, Romania; Bandar Seri Begawan, Brunei; Nicosia, Cyprus; Washington D.C., United States; Warsaw, Poland; Windhoek, Namibia; and Kuala Lumpur, Malaysia.Another key finding of the study is that the city of Monaco has the most expensive homes in the world, averaging $4,475,000 .
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