Portuguese would need to save 30 years of salary to buy a house in Lisbon

 In House prices, Housing, Property

A study by NetCredit has revealed that the French, British, Spanish and Germans would have to save less of their average salaries to buy a property in Lisbon than the Portuguese to acquire a house in the centre of their capital cities.

The study showed that Lisbon was now the third least affordable capital city in Europe to buy a home, and that a Portuguese citizen would have to save 30.2 years of their average salary in order to buy a house in the capital.

It now means that its more costly and difficult for the middle classes to buy an apartment in Lisbon than in Paris, Rome or even in some parts of London.

For example, a French citizen would have to save 19 years of average salary to own a home, and a British citizen would have to save 15 years to buy a house in London. A Spanish would save 14.7 annual salaries for a property in Madrid, and a German 12.9 to buy a house in Berlin.

Belfast was the cheapest city in Europe where seven annual salaries were needed to buy a property.