New tool reveals how much property you could afford around the world on your salary

New tool reveals how much property you could afford around the world on your salary

US-based property search engine has created an interactive tool which compares the house prices in 36 countries and it lets you see exactly that.

By putting in details of how much you earn here, the tool tells you how much property you'd get for your hard-earned bucks depending on where in the world you are.

In other words, if you're dreaming of moving and buying a home abroad, this could be a great way to check before you leave whether you'll be able to afford to buy a big enough place to live.

Or if you're just interested in seeing which countries are the cheapest if you earn the average salary, the website has created data on this too.

And the results show huge differences between countries.

For example, while someone earning the average salary in the US of £34,551 could afford a property of around 670 square ft in size, the typical Brit would only be able to afford around 215 square feet, a whooping 68 per cent reduction in size.

Turkey came out as the cheapest country, with locals being able to buy 742 square feet when earning the average household income of £13,326.

Meanwhile, the UK – with an average annual salary of £27,600 – came out as less affordable, ending up closer to the bottom in 25th place.

On the other side of the affordability scale, South Korea came out as the least affordable property market, with the average household income of £16,964 affording just 84.4 square feet of home.

The website compared the cost per square feet of homes in all member countries of the Organisation for Economic Co-operation and Development (OECD) alongside the average annual household income in each.

But there are also other interactive tools which let you compare everything from finances and house prices to the gender pay gap.

In October, the Office for National Statistics revealed a tool which lets you compare your earnings, savings and debt with others in your age group.

You can also check the gender pay gap for your job, and the results are disappointing.

Meanwhile, another tool shows you how you can take years of your credit card balance by increasing payments by just £1 a day.

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