Kazakhstan ranked 115th in housing affordability with a score of 10.9, outperforming the global average of 11.2. This means a household earning the median income would need 10.9 years to save for a median-priced apartment. The data comes from Visual Capitalist based on a UN-Habitat report, according to infohub.kz.
The study notes that housing affordability is determined not so much by a country's overall wealth as by how well property prices match local incomes. Even in developed economies, buying a home can be challenging if prices rise faster than wages, while some emerging markets remain relatively affordable.
The top of the ranking is led by Saudi Arabia and the United Arab Emirates with a score of 3.0, followed by South Africa (3.4), North Korea (3.5), and Oman (3.6). The United States ranked seventh with a score of 4.5, better than Canada (9.4), Australia (7.5), and the United Kingdom (8.3).
At the other end of the ranking, Syria has the highest score of 86.7. Other laggards include Sri Lanka (40.8) and China (34.6). South Korea (26), Thailand (24), Vietnam (23.5), and the Philippines (30.1) are also among the least affordable housing markets.
Kazakhstan at 115th place with a score of 10.9 is close to Germany (10.7) and Romania (10.9). Similar values were also recorded for Japan and Austria (10.3), as well as the Democratic Republic of the Congo (10.6), the Central African Republic (11.1), and Angola (11.2).
The study authors emphasize: "The data shows that housing affordability depends not so much on a country's overall wealth, but on how much housing prices match local incomes. Even in wealthy countries, buying a home can become difficult when prices rise faster than wages, while some emerging markets remain comparatively affordable despite lower incomes."