{"id":675223,"date":"2023-04-02T15:00:49","date_gmt":"2023-04-02T13:00:49","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=675223"},"modified":"2023-03-31T17:03:14","modified_gmt":"2023-03-31T15:03:14","slug":"what-the-average-house-price-in-the-uk-us-and-australia-can-buy-in-south-africa","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/property\/675223\/what-the-average-house-price-in-the-uk-us-and-australia-can-buy-in-south-africa\/","title":{"rendered":"What the average house price in the UK, US and Australia can get you in South Africa"},"content":{"rendered":"

The United Kingdom (UK), Australia and the United States of America (USA) are some of the main destinations where South Africans emigrate; however, properties in these countries are significantly more expensive than in South Africa.<\/p>\n

Compared to other countries, South Africa’s property market is significantly cheaper.<\/p>\n

According to a study by Netcredit\u00a0<\/a>\u2013 an American online lender – Pretoria is the most affordable capital city in the world.<\/p>\n

Netcredit said the average home in Pretoria costs just seven times the average salary, the best affordability in the world.<\/p>\n

It would only take 4.7 yearly salaries to afford the median house price in Pretoria.<\/p>\n

By comparison, on the other end of the scale, it would take roughly 160 years to afford the median house price in Tehran, Iran.<\/p>\n

In addition, the 2023 Wealth Report\u00a0by Knight Frank<\/a> noted that Cape Town is cheaper than most other luxury markets in the world.<\/p>\n

The report said that Cape Town is the world’s second most affordable luxury property market, with US$1 million getting 218 sqm – only beaten by Sao Paulo, Brazil.<\/p>\n

Monaco, Monte Carlo is the most expensive, where US$1 million will only get approximately 17 sqm.<\/p>\n

Due to the comparatively cheap South African market, the average house price in Australia, the UK and the USA could buy a lot more in South Africa.<\/p>\n

The average house prices in the UK, Australia and the USA and their rand values are listed below:<\/p>\n