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
