Top 10 Countries with Cheapest Properties

The Organization for Economic Co-operation and Development (OECD), a body of 34 member countries, which comprises of Western and developing nations from around the world, conducted a survey in May 2014 to know where buyers might be able to find a property bargain – and the nations where they may be overpaying. They looked at house prices relative to wages, then compared this ratio with historical averages

GREECE

Price-to-income index: 2.83

Average price for a 120 sq. m. property:

Sale (sq.m): €3,536 ($4,450)

Rent/month: €1,016 ($1,278)

FINLAND

Price-to-income index: -1.22

Average price for a 120 sq. m. property:

Sale (sq.m): €6,785 ($8,540)

Rent/month: €2,459 ($3,095)

PORTUGAL

Price-to-income index: -4.97

Average price for a 120 sq. m. property:

Sale (sq.m): €1,769 ($2,226)

Rent/month: €770 ($969)

SWITZERLAND

Price-to-income index: -5.13

Average price for a 120 sq. m. property:

Sale (sq.m): €11,306 ($14,230)

Rent/month: €3,508 ($4,415)

IRELAND

Price-to-income index: -8.16

Average price for a 120 sq. m. property:

Sale (sq.m): €3,750 ($4,720)

Rent/month: N/A

USA

Price-to-income index: -9.84

Average price for a 120 sq. m. property:

Sale (sq.m): €12,141 ($15,284)

Rent/month: €5,205 ($6,553)

GERMANY

Price-to-income index: -15.78

Average price for a 120 sq. m. property:

Sale (sq.m): €3,306 ($4,161)

Rent/month: €1,462 ($1,840)

JAPAN

Price-to-income index: -38.44

Average price for a 120 sq. m. property:

Sale (sq.m): €9,066 ($11,466)

Rent/month: €5,040 ($6,341)

SOUTH KOREA

Price-to-income index: -39.35

Average price for a 120 sq. m. property:

Sale (sq.m): N/A

Rent/month: €2,208 ($2,778)

SPAIN

Price-to-income index: 7

Average price for a 120 sq. m. property:

Sale (sq.m): €3,630 ($4,569)

Rent/month: €1,423 ($1,791)