Brazil is among the best countries in the world for buying real estate

RIO DE JANEIRO, BRAZIL – Despite all the obstacles Brazilians face in conquering their own home, Brazil is among the countries that offer the best access to real estate in the world.

In the study conducted by Compare the Market, which examined the average price of real estate per square meter and the family income of the population, the second-largest American economy behind the United States ranked 5th

The average income of a Brazilian is US$12,701 – that’s the income of people trying to buy a property that costs an average of US$1,151.71 per square meter.The affordability index was 9.1%.

The survey showed that Turkey is the most affordable country for buying real estate. In the country, the price per square meter is US$736.12 and the family income is US$18,302 on average. In this way, the affordability index was close to 4%. The lower the percentage in this index, the better.

The United States ranked second, although the price was considered high. The square meter there costs US$2,845.82. The country reached this position because Americans have an average disposable income of US$45,284, which is equivalent to this level.The affordability ratio reached 6.3%.

Mexico is in third place with an affordability ratio of 7.1%. The country has some peculiarities that were taken into account in the study. The average income of residents is significantly lower compared to other places, averaging US$13,965.

Nevertheless, the country offers some of the most affordable housing, with an average of US$984.63 per square meter.

In contrast, South Africa, which ranked fourth in the study, has a value per square meter of real estate of US$866.27 and an average household income of US$11,592, representing an affordability rate of 7.5%.

“Trying to buy a property today is more difficult than ever, especially in light of the pandemic. However, annual incomes and prices for these assets vary widely from country to country, so this is not bad news for everyone, especially for countries where buying property is more affordable,” Stephen Zeller, general manager of home insurance and content at Compare the Market, tells Valor Invests.

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