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Anyone getting USD75k/EUR65K/GBP55K in Europe can afford to buy an apartment in any of the major cities, including London with access to a walking lifestyle. A
by CapitainEvident 5y ago
Anyone getting USD75k/EUR65K/GBP55K in Europe can afford to buy an apartment in any of the major cities, including London with access to a walking lifestyle.
Add a partner’s salary to the equation and you are walking your kids to school and living the dream.
- disgruntledphd2 5y ago> USD75k/EUR65K/GBP55K in Europe can afford to buy an apartment in any of the major cities, That doesn't seem likely. I live in Dublin, and the median household income for a first time buyer is approximately 90k in euros. I'm surprised that this is possible in London.
- CapitainEvident 5y agoEvidently. On £55k you can afford to borrow £247.5k. £247.5k + 10% deposit and you are looking at £272k properties. Check sold house prices in London and you’ll find plenty under £272k. Possible in London which is one of the most expensive cities in the world.
- disgruntledphd2 5y agoSo this depends on what multiple the bank will lend you. In Ireland, it's 3.5 whereas it looks like it's 4.5 in the UK. Honestly though, apartments anywhere near the city in Dublin are still way out of reach for a person on your wage, even if the rules changed to 4.5.
- CalRobert 5y agoNevermind that saving a deposit while rents are quite high is no easy feat.