How Many Years Does it Take to Save for a Condo? 🏢
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
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.
Dataset
Data sources
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