The average annual salary in Cyprus covers just 9.8 per cent of the cost of a 100-square-metre home, according to a new global housing affordability study by BestBrokers.
The country’s average income of approximately €25,335 fails to offset property costs, making Cyprus one of Europe’s least affordable housing markets when measured against local earning capacity.
“To provide a clear comparison of housing costs worldwide, we examined average prices per square metre in US dollars, based on Numbeo data,” the BestBrokers team stated. “We supplemented this with income statistics from multiple reliable sources to highlight which countries offer the most and least affordable housing compared to local workers’ average earnings.”
Global housing affordability analysis reveals stark disparities
The study analysed 67 countries, measuring annual salaries as a percentage of average 100-square-metre apartment costs. Nepal emerged as the world’s least affordable housing market, with average annual wages covering merely 1.61 per cent of typical apartment costs.
South Africa topped the affordability rankings with an income-to-price ratio of 18.19 per cent, followed by the United States at 16.92 per cent and Finland at 11.84 per cent. Bahrain and Denmark also ranked amongst the most affordable markets, with ratios of 11.40 per cent and 11.15 per cent respectively.
The United States, whilst ranking 31st for absolute property prices at an average $2,988 per square metre, benefits from high salary levels that significantly improve housing affordability compared to many global markets.
Low property prices fail to offset poor wage levels in developing economies
“We discovered that some of the least affordable housing markets are not located in wealthy, developed countries but in smaller economies where property prices may be relatively low, however average incomes are even lower,” the report noted.
China and India completed the three least affordable countries for home purchases in 2025, with average annual salaries covering just 2.05 per cent and 2.09 per cent of typical 100-square-metre apartment costs respectively. This translates to approximately 55-56 years of full annual income, without spending a single cent, to acquire a home in either country.
South Korea ranked sixth among countries with the least affordable housing, despite its developed economy status. This stems from exceptionally high property prices averaging $11,278.95 per square metre, combined with a relatively moderate average annual income of $27,228.59.
Turkey closely followed these markets, where typical buyers would require 50 years of income to purchase a home. Only Switzerland recorded higher prices per square metre than South Korea, making it the most expensive market in absolute terms among the 67 countries analysed.
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