Israeli housing is the second most expensive in the world, a new study finds.
According to the study, conducted by Australia's price-comparison website CompareTheMarket, the average Israeli household spends the equivalent of 26.6% of its annual disposable income on each square meter (10.8 square feet) of housing space.
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The only country with less affordable housing is South Korea, the study notes, with each square meter (10.8 square feet) of housing space costing the equivalent of 39.6% of the average household's annual disposable income.
Switzerland ranks third in the study, followed by Luxembourg, Japan, France, New Zealand, the United Kingdom and the Czech Republic.
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The top three most affordable countries in the study are Turkey, the United States and Russia, followed by South Africa, Mexico, Lithuania and Brazil.
Last year, UBS Global Wealth Management included, for the first time, Tel Aviv in its "Global Real Estate Bubble Index 2019," which measured housing prices in 24 large cities worldwide.
According to UBS, Tel Aviv has seen the largest housing price increases in the past 30 years.
Reprinted with permission from JNS.org.
