What a 3-bedroom house looks like in South Africa vs the UK, Netherlands and Australia
Across the globe, housing prices have risen in line with harsher interest rates while consumer spending is crunched due to rising inflation.
The IMF’s most recent data, as of September 22, 2022, indicates that worldwide housing prices have been steadily increasing.
The average South African earning roughly R21,000 net income a month, can reasonably afford a home loan of R745,598. If two people were to live together and both earn the same salary, the household could afford a home of roughly R1,491,196.
Close to one and a half million rand is unlikely to get you much in other countries – especially Europe. Due to the nature of the rand and South Africa’s economy, domestically, South Africans have a strong purchasing power, making purchasing a larger home more suited for a family slightly easier than abroad.
On Friday (13 January), the rand was trading at:
- R16.73/$
- R18.15/€
- R20.41/£
Overseas, the rand falters, and many South Africans find themselves paying more for less when it comes to housing.
The UK and Australia have established themselves as staples for emigrating South Africans, drawing in large quantities of skilled workers that wish for greener pastures.
The Netherlands has had renewed interest over the past handful of years. Its statistics centre (CBS) reported that in 2021, South Africa was among the top ten source markets for migration.
Note: BusinessTech chose a 3-bedroom house to reflect a single-child family with one bedroom for the partners of the relationship, a separate room for the child and another that could be an office or other area. The following breakdown illustrates how properties differ in size and style rather than being a calculated project comparing pricing.
BusinessTech looked at what a three-bedroom house looks like and could roughly cost in South African emigration hotspots:
South Africa
Under R2 million
- Property in KwaZulu-Natal
- 3 Bedroom House for Sale in Monteseel
- R1,900,000
Under R4 million
- Property in Gauteng
- 3 Bedroom House for Sale in Parkhurst
- R3,799,000
Under R10 million
- Property in the Western Cape
- 3 Bedroom House for Sale in Oranjezicht
- R9,750,000
United Kingdom
(Note: London prices are notoriously high and usually places further removed even if in a different city are far more affordable)
- Property in Manchester
- 3 Bedroom Terraced Home in Briscoe Lane, Manchester
- R2,662,656/£130,000
- Property in London
- 3 Bedroom in Heigham Road, East Ham, London
- R6,700,000 /£330,500
- Property in London
- 3 Bedroom in Briar Close, London
- R11,270,880/£550,000
Netherlands
- Property in Eindhoven
- 3 Bedroom House for sale in Tongelresestraat 379, Eindhoven
- R6,512,326/€359,000
Netherlands
- Property in Amsterdam
- 3 Bedroom Town House for sale in Amsterdam, Noord-Holland, Netherlands
- R27,199,170/€1,500,000
Australia
- Property in Queensland
- 3 Bedroom House for Sale in Queenton, Queensland
- R1,993,941/$170,000
- Property in Brisbane
- 3 Bedroom house for sale in Taigun
- R5,735,383/ $489,000
- Property in Sydney
- 3 Bedroom House for sale in Osway Street, Broadmeadows
- $850,000/ R9,968,460
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