Greek property second most affordable in EU, survey finds
Greece is the second most affordable country in the European Union to buy a property, according to a new survey.
The study by Compare the Market analyzed average property prices per square meter, as well as the average disposable household income in each country to calculate the cost per sq.m. as a percentage of annual income.
The world’s most affordable country was Turkey, as it has the lowest price per sq.m. At 645.87 euros and with an average household disposable income of €16,058.18, the affordability ratio came to around 4%. It is followed by the US (6.3% of income) and Mexico (7.1%).
Greece ranks eighth in the world (with 9.7%), with Latvia (9.6%) in seventh being the most affordable realty market in the EU.
Greece’s average annual disposable income per household comes to €15,530 and the average property cost amounts to €1,593.3/sq.m.
