Most Affordable First-Homes In The World - India

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While we were writing blurbs on the housing crisis, number crunchers at Investing Reviews were ranking countries according to their overall property affordability, and the results are out. 

India Takes #1 Slot

Per this report, India is the top country in the world where homebuyers find it easier to purchase their first home and get on the property ladder. 

Countries were ranked based on their overall 'Property Affordability Score', with 1 being the most affordable and 50 being the least. 

🏆 Turns out, with a score of 9.33, India has the most affordable housing of all the G20, OECD and European Union countries. 

What's Making Us So Affordable?

The survey found that in India, relatively low average salaries are offset by equally low property costs per square metre. 

To top that up, very affordable utility costs in India helped it score big time in the rankings.

Tell Me More. . .

Per the final scoresheet, In India, the average. . . 

• rent for a 915 sq. ft. apartment was around INR 3000 
• internet cost (60 mbs minimum) was around INR 800 
• price tag on a 495 sq. ft. apartment was around INR 31 lakh 
• annual net salary was around INR 3.7 lacs, and 
• the house price as a percentage of salary was 825%.

FYI, Turkey was at second place and Bulgaria at third. The top-3 least affordable countries in the rankings were Luxembourg, Switzerland and South Korea.