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How Many Months of Salary Do You Need to Buy a House in Europe?

by THEFUTURE.TEAM

January 6, 2025

The answer depends largely on where you live. A recent report by BestBrokers compares property prices across Europe to average salaries, offering insights into how many months of income it would take to afford a home.

Where in Europe is Buying a Home Most Affordable?

Denmark leads the pack as the most affordable country in Europe for homebuyers. According to the report, purchasing a 100-square-metre property in Denmark costs the equivalent of 114 net monthly salaries, making it the shortest saving time in Europe.

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The report considered factors such as average net income, inflation, and “real” mortgage interest rates—mortgage rates adjusted for inflation. It’s important to note that the calculation assumes no spending on food, housing, childcare, or other expenses, offering a purely theoretical outlook.

Interestingly, despite ranking as Europe’s most affordable housing market, Denmark also holds the title of the most expensive EU country for goods and services, with prices 43% above the EU average in 2023, according to Eurostat. Still, Denmark’s relatively high average earnings—seventh in Europe—offset these costs.

Following Denmark, Ireland, and Sweden rank as the second and third most affordable European countries to buy a home. A 100-square-metre property costs the equivalent of 123 and 129 net monthly salaries in these nations, respectively—roughly 10 years of annual earnings.

Which European Countries Make Saving for a Home the Hardest?

At the opposite end of the spectrum are the Czech Republic and Slovakia, where saving for a home takes considerably longer. In Slovakia, for example, buying a 100-square-metre property costs 297 net monthly salaries—nearly 25 years of earnings. Even if someone managed to save half their income every month, it would take 50 years of disciplined saving to afford a home.

Where Are Homes the Most Affordable Globally?

Globally, South Africa emerges as the most affordable country to buy a home. A 100-square-metre property costs 71 times the average monthly salary, making it the fastest place in the world to save for a house. The United States comes second, requiring 76 monthly wages—equivalent to approximately six years of annual income. However, property affordability varies greatly between states in the U.S., with some regions significantly more expensive than others.

The World’s Least Affordable Housing Markets

On the flip side, Nepal holds the title for the least affordable housing market, where a 100-square-metre home costs a staggering 684 monthly salaries. Turkey follows closely behind, with homes priced at 631 net wages, or over 52 years of income.

How Many Monthly Salaries Does a 100-sq-metre Home Cost Around the World?

Final Thoughts

This report sheds light on the stark disparities in housing affordability across Europe and the world. Whether you’re planning to buy a home in Denmark or dreaming of saving in Slovakia, understanding the cost-to-salary ratio is crucial for making informed financial decisions.

Disclaimer: The information provided does not constitute financial advice. Always conduct your own research to ensure it aligns with your personal circumstances. While we strive to deliver expert-backed guidance, reliance on this content is at your own risk.

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Foreign Firms Contribute €3.5 Billion To Cyprus Economy In 2023

by THEFUTURE.TEAM

November 12, 2025

Recent Eurostat data reveals that Cyprus remains an outlier within the European Union, where foreign-controlled companies contribute minimally to the nation’s employment figures and economic output. While these enterprises have a substantial impact in other member states, in Cyprus they account for only 10 percent of all jobs, a figure comparable only to Italy and marginally higher than Greece’s 8 percent.

Employment Impact

The report highlights that foreign-controlled companies in Cyprus employ 32,119 individuals out of a total workforce that, across the EU, reaches 24,145,727. In contrast, countries such as Luxembourg boast a 45 percent job share in foreign-controlled firms, with Slovakia and the Czech Republic following closely at 28 percent.

Economic Output Analysis

In terms of economic contribution, these enterprises generated a total value added of €3.5 billion in Cyprus, a small fraction compared to the overall EU total of €2.39 trillion. Notably, Ireland leads with 71 percent of its value added stemming from foreign-controlled firms, followed by Luxembourg at 61 percent and Slovakia at 50 percent. On the lower end, France, Italy, Greece, and Germany exhibit values below 20 percent.

Domestic Versus Foreign Ownership

The data underscores Cyprus’s heavy reliance on domestically controlled enterprises for both employment and economic output. However, it is important to note that certain businesses might be owned by foreign nationals who have established companies under Cypriot jurisdiction. As a result, these firms are classified as domestically controlled despite having foreign ownership or management components.

Conclusion

This analysis emphasizes the unique role that foreign-controlled enterprises play within the Cypriot economy. While their overall impact is limited compared to some EU counterparts, the presence of these companies continues to contribute significantly to the island’s economic landscape.