The cheapest Arab country… housing prices around the world reveal paradoxes | economy

British-Ghanaian architect David Adjaye describes buildings as “emotional structures that shape our psyche,” emphasizing the importance of housing as well as being a basic need for people.

This importance prompted the late Egyptian architect Hassan Fathi to famously say: “800 million poor people in the Third World are doomed to early death due to poor housing. These are my clients.”

In this report, Al Jazeera Net reviews housing price statistics in the world and reveals some surprises, including, for example, Egypt topping the list of the cheapest in the world.

This may be due to the severe decline in the value of the Egyptian pound against the dollar as part of the measures, the last of which was last March.

The 10 most expensive countries in housing prices around the world

According to the British version of the Australian website Finder, which specializes in digital comparisons, the 10 most expensive countries in the world in terms of average housing prices for the year 2023 are as follows:

In terms of price per square meter in the city center

1. Hong Kong: 31,681 dollars
2. Singapore 21 thousand and 691 dollars
3. Switzerland: 16,991 dollars
4. South Korea 13 thousand and 210 dollars
5. Luxembourg 12 thousand and 23 dollars
6. China: $8,579
7. Taiwan 8 thousand and 501 dollars
8. Israel: $8,490
9. Australia: $7,919
10. Germany 7 thousand and 226 dollars

In terms of the cost of the apartment (two rooms)

1. Hong Kong (China) $1.9 million
2. Zurich (Switzerland) $1.55 million
3. Seoul (South Korea) $1.3 million
4. Singapore: $1.28 million
5. Geneva (Switzerland) $1.22 million
6. Shanghai (China) $1.08 million
7. London (Britain) $1.03 million
8. New York (USA) $1.02 million
9. Tel Aviv – Jaffa (Israel) $996 thousand
10. Beijing (China) $988 thousand

The 10 cheapest countries in housing prices around the world

In terms of the price of the apartment (two rooms)

1. Egypt 31 thousand and 208 dollars
2. Pakistan: 32,508 dollars
3. Venezuela 35 thousand and 109 dollars
4. Bangladesh 50 thousand and 713 dollars
5. Tunisia: 52 thousand and 14 dollars
6. South Africa: $53,314
7. Palestine 58 thousand and 515 dollars
8. Kenya 66 thousand and 318 dollars
9. Algeria: 66 thousand and 318 dollars
10. Jordan: 70,219 dollars

The most expensive Arab countries in housing prices

In terms of square meters

1. Kuwait: 6 thousand and 176 dollars
2. Qatar 5 thousand and 107 dollars
3. Emirates 3 thousand and 54 dollars
4. Sultanate of Oman $1626
5. Saudi Arabia $1553
6. Morocco 1509 dollars
7. Syria: $1,318
8. Iraq $1183
9. Jordan $1176
10. Algeria $1127
11. Palestine $981
12. Tunisia: $888
13. Egypt $522

Residential rentals

According to the World Atlas website, which specializes in statistics and is owned by the Canadian company Reunion Technology, the minimum income for an individual should be at least 3 times the value of the residential rent in order to be able to live.

The website published a list of the highest residential rents in dollars in cities around the world, with a focus on capitals, according to the following:

1. New York: $3890
2. Hong Kong: $2,590
3. London: $2,360
4. Chicago (USA): $2210
5. Luxembourg: $2130
6. Doha (Qatar): $2050
7. Los Angeles (USA): $1990
8. Miami (United States): $1970
9. Oslo (Norway): $1,940
10. Taipei (Taiwan): $1840

The list of Arab cities with the highest cost of residential rents according to the same index is as follows:

1. Dubai (UAE)
2. Doha (Qatar)
3. Abu Dhabi (UAE)
4. Riyadh (Saudi Arabia)
5. Kuwait (Kuwait)
6. Jeddah (Saudi Arabia)
7. Beirut (Lebanon)
8. Muscat (Oman)
9. Amman (Jordan)