Those who want to buy an apartment in Hong Kong, Paris or London, will have to contribute a considerable sum. According to him Global Real Estate Bubble Index 2021 of the Swiss bank UBS, which analyzes the situation of the real estate market in 25 of the main cities in the world, a A skilled worker in the service sector would need, on average, 20 years of full salary to afford a 60-square-meter apartment near the center in Hong Kong, the longest time period among the cities studied.
Acquire a central home in the capital of Spain will demand six years of full pay from a middle-income worker in 2021, the same as in 2011. The Access to housing is somewhat easier in Los Angeles and Miami, where currently five and four years are required, respectively.
In general, the situation has hardened in most of the real estate markets of the world. For some of the cities shown in the graph, there is even a high risk of a real estate bubble. Singapore is one of the few markets that has managed to soften the situation slightly: while in 2011 a skilled worker had to work for about 16 years to be able to afford an apartment near the center, in 2021 he will need three years less.
