https://www.voronoiapp.com/real-estate/How-Many-Years-Does-it-Take-to-Save-for-a-Condo--2761
What We’re Showing
This graphic shows the average number of years that a skilled worker must work in order to afford a 650 square foot condo near the city center across select markets, based on data from the UBS Global Real Estate Bubble Index 2024.Key Takeaways
- In Hong Kong, the most unaffordable city worldwide for 14 consecutive years, it takes more than two decades for an average skilled worker to buy a condo.
- Paris stands as the most unaffordable city in Europe, despite real home prices falling more than 20% from post-pandemic highs.
- The median sale price of a condo or co-op in Manhattan stood at nearly $1.2 million in the fourth quarter of 2023, with prices per square foot up 44% in a decade.
| City | Average years of work (skilled worker) to buy a 650 sqft condo near city center |
|---|---|
| Hong Kong | 22 |
| Tokyo | 14 |
| Paris | 13 |
| London | 12 |
| Tel Aviv | 10 |
| Singapore | 10 |
| Sydney | 9 |
| Zurich | 8 |
