Not only in Britain. Nordic country, slightly rural, I pay about that 44%. Previously, in the capital region, my rent was roughly two thirds of my wages. And that wasn’t even in the center.
The average wage were I am - Portugal - is €1,741 before tax, whilst the average rent is €1,220 (for a 2-bedroom appartment)
Specifically for a 1-bedroom appartment it’s between €1500 in Lisbon and about €600 in the cheapest possible city.
So the average rent (for a 2-bedroom) is over 2/3 of average wage, whilst for a 1-bedroom it’s between 86% of a single average wage in Lisbon and 34% in the cheapest city.
Mind you, it has long been the case that, for example, to live near Lisbon in average both members of an university educated middle class couple must work full time, otherwise they can’t afford it.
Oh, and minimum wage in Portugal is €870, which means that for example a couple both earning minimum wage in Lisbon can only afford a 1-bedroom appartment if they don’t actually eat for most of the month.
Unsurprisingly birth rates in Portugal are some of the worst in the World.
The really entertaining thing is how successive governments have done all they can to push house prices up (same in Britain by the way: I lived there for over a decade and there too it was always government policy to prop-up the realestate market) so house prices in Portugal went up 17% just this year, and house prices going up invariably drag rents up.
(But hey, at least our Realestate Investor Prime Minister - who owns 54 properties - is 17% richer just this year).
Not only in Britain. Nordic country, slightly rural, I pay about that 44%. Previously, in the capital region, my rent was roughly two thirds of my wages. And that wasn’t even in the center.
The average wage were I am - Portugal - is €1,741 before tax, whilst the average rent is €1,220 (for a 2-bedroom appartment)
Specifically for a 1-bedroom appartment it’s between €1500 in Lisbon and about €600 in the cheapest possible city.
So the average rent (for a 2-bedroom) is over 2/3 of average wage, whilst for a 1-bedroom it’s between 86% of a single average wage in Lisbon and 34% in the cheapest city.
Mind you, it has long been the case that, for example, to live near Lisbon in average both members of an university educated middle class couple must work full time, otherwise they can’t afford it.
Oh, and minimum wage in Portugal is €870, which means that for example a couple both earning minimum wage in Lisbon can only afford a 1-bedroom appartment if they don’t actually eat for most of the month.
Unsurprisingly birth rates in Portugal are some of the worst in the World.
The really entertaining thing is how successive governments have done all they can to push house prices up (same in Britain by the way: I lived there for over a decade and there too it was always government policy to prop-up the realestate market) so house prices in Portugal went up 17% just this year, and house prices going up invariably drag rents up.
(But hey, at least our Realestate Investor Prime Minister - who owns 54 properties - is 17% richer just this year).