Saudi Arabia is the world’s most affordable country to buy a home in 2021, according to a new study from a Britain-based building supplier.
A new global home affordability study from British building supplier Roofing Megastore calculated the average cost of one square meter of real estate in 109 countries around the world, then multiplied the cost by 100 to show how much a 100 sqm home would cost on average.
The results revealed that Saudi Arabia, with an average annual salary of just over $20,354.90, and a 100 square meter home (~1075 square feet) costing just $90,774.38, is the world’s most affordable country to buy a home in 2021.
The study was revealed in a story from worldpropertyjournal.com.
“To provide a more accurate picture of affordability, average earnings (after tax) were also factored in to show the annual salary as a percentage of the cost of a 100sqm home. To illustrate the vast difference between the most and least affordable places, the study also reveals how many years it would take to buy a 100sqm home on an average annual salary…When taking earning potential into account, one full year’s wage in Saudi Arabia would in fact equate to more than 22% of the cost of an entire home, which means in less than five years, there’d be enough to buy a home outright if all of the salary was saved and not spent,” the post said.
