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10 Cities with the most expensive housing

Friday, 17 March 2017
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Ever dreamt of owning your own house, as an expat? Though our budgets might be limited, our dreams are not.

Most of us have sneakily checked out houses that are way out of our budgetary limit, just for the heck of it. The inspiration and excitement we get when looking at houses that are momentarily beyond our reach, is impalpable. Shall we now peek into cities that have the most expensive housing?

This list is based on the 13th Annual Demographia International Housing Affordability Survey, 2017.

Bournemouth & Dorset, UK: Bournemouth & Dorset is the 10th most expensive place to live around the world. The house prices here are 8.5 times higher than the average household income!

San Francisco, US: The Californian city came as the 9th most expensive place to buy a house. The average price of a house here is around $820,000.

Los Angeles(LA), US: LA is in the 8th position because the average purchase price of a home in Los Angeles is $507 per square foot!

Honolulu, US: The Hawaiian capital reclassified as a "major market" is the 7th most expensive place to procure a house. When tourists come to Hawaii, they just fall in love with this destination and keep increasing the stake to purchase properties here.

Cities with expensive housing

Melbourne, Australia: Melbourne is in the 6th most expensive place. ItÔÇÖs not just Melbourne, but entire Australia is deemed as one of the least affordable places in the world. Even a tin shed here can sell for more than a million dollars.

San Jose, CA, US: Another Californian city, San Jose is the 5th most expensive city to live in.

Auckland, New Zealand: Auckland is the 4th most expensive city to live in around the world this year. It was in the 5th position last year. In fact, living expenses rose so much that Auckland saw an outflow of many talented and skilled people who just couldnÔÇÖt afford to live here.

Vancouver, BC, Canada: House prices in Vancouver went up by the equivalent of a full yearÔÇÖs household income in only a year, making it the 3rd least affordable place in the world.

Sydney, Australia: Sydney is the 2nd most unaffordable place to live in the world. As already mentioned earlier, Australia, on a whole, is an expensive place to live in. A report also found one in eight Australians over the age of 35 expect to receive assistance from their parents in buying a house.

Hong Kong, China: Hong Kong has the least affordable housing market in the world! Price of houses and apartments are sky-high here, as are the house rents.

If you do live in any of these cities mentioned above and would want to buy a house, then start saving from early on!

Last modified on Friday, 17 March 2017 05:50