Average property price by country around the world
What is the cost of a city centre apartment in countries around the world?
Curious about how property prices in Australia compare with the rest of the world? We estimated the average cost of buying a 2-bed apartment in the city-centre across 106 countries to find out. Of these, Australia ranked as the 10th most expensive, at $697,536. The average across every country was $368,933, which makes Australia's property prices 89% higher than the global average.. Based on our research, you could buy 5 properties in Colombia for the price of 1 property in Australia.
The most expensive place to buy an apartment is Hong Kong (too small to be located on the map), with a 2-bed apartment costing a whopping $2.73 million - over 7 times the global average.
The 5 most expensive countries
1. Hong Kong: $2,731,651
2. Singapore: $2,104,153
3. Switzerland: $1,660,409
4. South Korea: $1,134,030
5. Luxembourg: $1,101,395
The 5 cheapest countries
1. Egypt: $55,093
2. Pakistan: $57,996
3. Venezuela: $59,890
4. Nigeria: $65,094
5. Bangladesh: $74,419
On the other end of the spectrum, the cheapest place for property is Venezuela, where a property of the same size would cost you a modest $55,093, 85% less than the global average
Looking to buy a cheaper property overseas? Check out this guide on how to secure financing for an overseas property and find a trusted provider to send money internationally. If you're aiming to get on the property ladder in Australia, Finder's first-time buyers guide will help you start your journey.
The full list of countries
10 least affordable cities to buy property
The Demographia International Housing Affordability report for 2024 analysed 94 housing markets in eight countries. To rate affordability, they used the "median multiple" which is the median house price divided by the median household income (pre-tax). Once again, Hong Kong topped the charts with a median multiple of 16.7. As expected, Sydney placed second on the list with mortgage as a percentage of income now at a staggering 132.28%! Melbourne finished seventh, and Adelaide at eighth meaning three of Australia's most "liveable cities" in the world are amongst the least affordable.
House Prices in Major Australian Cities
Despite property prices falling year-on-year, markets in Perth and Adelaide have remained strong where prices rose 27.1% and 13.4% respectively. In 2024, prices are showing signs of recovery as median house prices have been on the rise for a number of months. Even with the RBA raising rates to 4.35%, NAB are forecasting house prices will rise by 5% by the end of 2024.
Methodology
The average size of a 2-bed property in Australia is 65 square metres according to buildi.com.au. Therefore, each price per square metre was multiplied by 65 to get the cost of a 2-bed property in each country.
Sources
Ask a question
More guides on Finder
-
How to open a bank account in the UK from Australia
The steps you need to follow to open a UK bank account as an Australian.
-
Revolut international money transfer review
Find out whether Revolut is the right choice when you need to send money overseas.
-
Western Union vs MoneyGram
To find the best rate for your next money transfer, check out our comparison of the fees, exchange rates and transfer speeds of Western Union and MoneyGram.
-
Revolut vs Wise (TransferWise)
Compare Revolut with Wise on speed and cost to see which is best for your next money transfer.
-
Wise (TransferWise) review
Wise can help you make a fast, secure transfer at the mid-market rate.
-
OFX review
Read our review of OFX and see if it’s right for your next international money transfer.
-
IBAN vs SWIFT: how bank codes work
You’ve likely encountered these codes when sending money worldwide. But what are they and how do they help?
-
OrbitRemit international money transfers
Read our detailed review of OrbitRemit international money transfers, including exchange rates, fees, payment methods and safety.
-
MoneyGram review
We go into detail on MoneyGram's fast transfers to 200+ countries and territories worldwide.
-
CurrencyFair review
Check out our comprehensive review of CurrencyFair international money transfers, including fees, exchange rates, security and transfer times.