Homeownership dropping globally
Homeownership has dropped across the world, as 22 of the 36 most developed countries experienced a decline in the past 10 years, research from Swinton Insurance has found.
The UK and Ireland saw the steepest decline of all, of 11% since 2008.
Only three countries have seen substantial rises in homeownership; Australia (86%), Poland (35%) and Japan (24%).
It is cheapest to buy a home in the United States, where you need 1.4 times your monthly salary per square metre.
It’s most expensive to buy property in the Czech Republic, where you need three times your monthly salary per square metre.
Residents in Greece and Switzerland have the best salary to rent ratio due to low rent in Greece and high salaries in Switzerland.