In-depth Analysis of Property Price to Income Ratio
Our in-depth analysis focuses on the property price to income ratio, providing insights into the affordability of real estate in different areas. By assessing property prices and income levels, we help you understand the financial implications of purchasing a property.
As of January 2021, Damascus had a property price to income ratio of 67.8, indicating relatively high property prices compared to income levels. Shenzhen followed closely with a ratio of 46.3, while Tehran ranked third with a ratio of 46. Rochester, Syracuse, and Memphis exhibited lower ratios, suggesting relatively more affordable real estate markets in terms of property price to income.
By January 2022, Damascus continued to have the highest property price to income ratio, standing at 103.6. Accra and Beijing secured the second and third positions, respectively, in terms of property price to income ratios. Cleveland, Detroit, and Memphis showcased lower ratios, indicating relatively more affordable real estate markets compared to other regions.
Moving to January 2023, Shanghai claimed the first position with a property price to income ratio of 46.6. Beijing and Hong Kong followed closely, indicating high property prices compared to income levels. Johannesburg, Phoenix, and Pretoria exhibited lower ratios, suggesting relatively more affordable real estate markets in terms of property price to income.
Analyzing the property price to income ratio helps you gauge the affordability of real estate and make informed decisions about property purchases. It provides valuable insights into the relationship between property prices and income levels, allowing you to evaluate the financial feasibility of entering the real estate market in different areas.
