Affordability of housing in the global real estate markets

Abstract

This paper provides an overview of housing affordability in the real estate markets of different countries. It also presents a literature review based on the results of foreign studies and analysis of housing affordability in foreign property markets. The authors selected numerical values of housing affordability indices from 50 countries from various sources. A comparative analysis of ranked indicators was conducted. In addition, a dataset on housing affordability was collected through sampling, taking into account the possibilities of obtaining mortgage loans in 86 countries. In order to conduct a comparative analysis, all countries studied were divided into three groups, depending on the level of economic development of each country. In order to substantiate the results of the study, an additional analysis of housing costs in the real estate markets of 26 countries is carried out, recording the highest prices for one square metre of total living space.