A new study compares buying vs. renting costs for a three-bedroom home in 39 countries.

Pros and Cons of Buying or Renting in 39 Countries

A new study by Comparethemarket.com compared the average monthly cost of renting a 3-bedroom house, the estimated mortgage payment of a 3-bedroom and the monthly premium buyers pay over renters.

Data came from the Organization for Economic Cooperation and Developmentand Numbeo, a database that specializes in the cost of living.

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Obviously, prices vary within a single country as well as country-to-country.  Issues such as visas and immigration policies also factor in to buying/renting costs as well.

Overseas Renting and Buying Costs (based on averages)

Rent          Est. Mortgage Payment       Buying Premium

Luxembourg       $3,017                $4,558                         51%

Latvia                 $582                   $830                            43%

Slovakia              $771                   $1,098                         42%

Portugal             $1,005                $1,419                           41%

Hungary             $583                   $822          `                 41%

Russia                 $746                   $1,045                         40%

Czech Republic     $861                   $1,205                         40%

New Zealand        $1,656                $2,234                         35%

Germany            $1,414                $1,887                          34%

Canada               $1,597                $2,118                         33%

Netherlands         $1,698                $2,221                         31%

Mexico                $653                   $848                            30%

Iceland               $2,036                $2,610                         28%

Sweden              $1,254                $1,586                         27%

Denmark            $1,651                $2,030                         23%

Slovenia              $869                   $1,066                         23%

Spain                  $1,017                $1,247                         23%

Greece                $620                   $747                            21%

Chile                   $644                   $773                            20%

Turkey                $372                   $441                            19%

France                $1,269                $1,500                         18%

US                      $1,971                $1,971                         18%

Colombia             $408                   $479                            18%

UK                      $1,494                $1,757                         18%

Ireland                $2,028                $2,358                         16%

Austria                 $1,416                $1,625                         15%

Australia               $1,763                $2,022                         15%

Norway                 $1,708                $1,958                         15%

Poland                  $951                   $1.089                         15%

Switzerland           $2,599                $2,961                         14%

Belgium              $1,224                $1,384                         13%

Lithuania               $692                   $775                            12%

Japan                    $1,382                $1,534                         11%

Israel                     $1,485                $1,641                         11%

Estonia                   $747                   $816                            9%

South Korea           $1,176                $1,259                         7%

South Africa            $865                   $872                            1%

Italy                       $1,006                $997                            -1%

Finland                   $1,285                $1,258                         -2%

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Thanks to Comparethemarket.com

 

 

 

 

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