{"id":653769,"date":"2023-01-14T17:00:41","date_gmt":"2023-01-14T15:00:41","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=653769"},"modified":"2023-01-13T16:30:42","modified_gmt":"2023-01-13T14:30:42","slug":"what-a-3-bedroom-house-looks-like-in-south-africa-vs-the-uk-netherlands-and-australia","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/property\/653769\/what-a-3-bedroom-house-looks-like-in-south-africa-vs-the-uk-netherlands-and-australia\/","title":{"rendered":"What a 3-bedroom house looks like in South Africa vs the UK, Netherlands and Australia"},"content":{"rendered":"

Across the globe, housing prices have risen in line with harsher interest rates while consumer spending is crunched due to rising inflation.<\/p>\n

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The IMF’s most recent data, as of September 22, 2022, indicates that worldwide housing prices have been steadily increasing.<\/p>\n

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<\/a><\/strong>.<\/p>\n

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.<\/p>\n

On Friday (13 January), the rand was trading at:<\/p>\n