This chart illustrates how many years one needs to work in South Korea to buy a house in Europe from 2009 to 2024. Using NUMBEO's Price to Income Ratio, the estimated house prices for each European country were calculated by multiplying each country's ratio by their per capita GDP. Then, the estimated house prices were divided by South Korea's GDP to determine the approximate number of years required. Note that this calculation does not account for living costs, taxes, or other expenses.
How Many Years of Work in South Korea to Buy a House in Europe? 2009-2024
This chart illustrates how many years one needs to work in South Korea to buy a house in Europe from 2009 to 2024.
Data Source: NUMBEO
Image Source: Freepik from www.flaticon.com
The Price to Income Ratio is an indicator that compares the cost of housing to household income, showing how expensive housing is in a specific region. It reflects how many years of household income are needed to buy a house.
| Rank | Name | Indicator |
|---|---|---|
1 |  Luxembourg | 34.99 yrs |
2 |  Switzerland | 34.33 yrs |
3 |  Ireland | 23.28 yrs |
4 |  Norway | 21.61 yrs |
5 |  South Korea | 19.90 yrs |
6 |  Austria | 19.07 yrs |
7 |  France | 17.05 yrs |
8 |  Germany | 15.57 yrs |
9 |  United Kingdom | 14.80 yrs |
10 |  Malta | 13.93 yrs |
11 |  Sweden | 13.88 yrs |
12 |  Iceland | 13.87 yrs |
13 |  Netherlands | 13.81 yrs |
14 |  Denmark | 13.71 yrs |
15 |  Finland | 13.39 yrs |
16 |  Italy | 12.40 yrs |
17 |  Czech Republic | 11.25 yrs |
18 |  Slovenia | 11.15 yrs |
19 |  Belgium | 11.05 yrs |
20 |  Slovakia | 11.01 yrs |
