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East or west, home is best

By Winnie Makena | March 5th 2020 at 04:00:00 GMT +0300

Home & Away
Home ownership is an almost impossible dream, but it is a global trend.

Home ownership is an almost impossible dream, but it is a global trend.

You would rather be forced to build a home kilometres away from the city centre or share walls with neighbours than experience some of the property trends in bigger cities across the world.

In San Francisco, for instance, you can buy a private street in an auction, but not own the actual houses. You can then charge the residents for parking on the street.

In Copenhagen, Denmark, the real estate market has become so competitive that you will need seven months’ rent for a flat, according to the BBC.

SEE ALSO: Five tips on talking to your kids about their fears

If you think that is extreme, in Stockholm, Sweden, it takes nine years on average to be granted a rent-controlled property and that jumps to two decades in some of the most popular neighbourhoods.

In Hong Kong, an average family would have to spend all of their income for 16.5 years to buy one of the cheapest properties in town.   

Home ownership Real Estate Housing Rent Home is best

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