Difficulty coefficient of buying a house in 2016: average salary in ten cities vs. house price!

Is it difficult to buy a house in 2016? In reality, it is difficult for many office workers to buy a house. Let’s take a look at the average salary in the winter of 2015 to see how difficult it is to buy a house. In January 2016, Zhaopin Recruitment released the "2015 Autumn China Employer Demand and White-Collar Talent Supply Report". So looking at housing prices over the past 15 years, does the average price of new homes match the income in each city? Is it difficult to buy a house in first-tier cities with high wages? The difficulty coefficient of buying a house is as follows: Difficulty coefficient = 1-(average salary/current latest house price*100%).

1. Beijing

According to data from the Fangtianxia Monitoring Center, the average price of new houses in Beijing in 2015 was 33,813 yuan/square meter, and the average wage in the region this winter was 9,227 yuan/month. The difficulty coefficient of buying a house is 0.73. If you buy a 100-square-meter house in full without food or drink for 366 months, it will take about 30 years.

2. Shanghai

According to data from the Fangtianxia Monitoring Center, the average price of new houses in Shanghai in 2015 was 34,183 yuan/square meter, and the average wage in the region this winter was 8,664 yuan/month. The difficulty coefficient of buying a house is 0.75. If you buy a 100-square-meter house in full without food or drink, it will take 394 months, which is about 33 years.

3. Shenzhen

According to data from the Fangtianxia Monitoring Center, the average price of new houses in Shanghai in 2015 was 35,823 yuan/square meter, and the average wage in the region this winter was 7,728 yuan/month. The difficulty coefficient of buying a house is 0.78. If you buy a 100-square-meter house in full without food or drink, it will take 394 months, which is about 38 years.

4. Hangzhou

According to data from Fangtianxia Monitoring Center, the average price of new houses in Hangzhou in 2015 was 16,063 yuan/square meter, and the average wage in the region this winter was 7,097 yuan/month. The difficulty coefficient of buying a house is 0.56. If you buy a 100-square-meter house in full without food or drink, it will take 226 months, which is about 18 years.

5. Guangzhou

According to data from the Fangtianxia Monitoring Center, the average price of new houses in Guangzhou in 2015 was 17,198 yuan/square meter, and the average wage in the region this winter was 6,913 yuan/month. The difficulty coefficient of buying a house is 0.6. If you buy a 100-square-meter house in full without food or drink, it will take 249 months, which is about 21 years.

6. Suzhou

According to data from the Fangtianxia Monitoring Center, the average price of new houses in Suzhou in 2015 was 12,106 yuan/square meter, and the average wage in the region this winter was 6,570 yuan/month. The difficulty coefficient of buying a house is 0.46. If you buy a 100-square-meter house in full without food or drink for 184 months, it will take about 15 years.

7. Ningbo

According to data from the Fangtianxia Monitoring Center, the average price of new houses in Ningbo in 2015 was 12,290 yuan/square meter, and the average wage in the region this winter was 6,398 yuan/month. The difficulty coefficient of buying a house is 0.48. If you buy a 100-square-meter house in full without food or drink for 192 months, it will take about 16 years.

8. Nanjing

According to data from the Fangtianxia Monitoring Center, the average price of new houses in Nanjing in 2015 was 14,111 yuan/square meter, and the average wage in the region this winter was 6,336 yuan/month. The difficulty coefficient of buying a house is 0.55. If you buy a 100-square-meter house in full without food or drink, it will take 222 months, which is about 18 years.

9. Chengdu

According to data from the Fangtianxia Monitoring Center, the average price of new houses in Chengdu in 2015 was 7,843 yuan/square meter, and the average wage in the region this winter was 6,249 yuan/month. The difficulty coefficient of buying a house is 0.2. If you buy a 100-square-meter house with full payment without food or drink for 125 months, it will take about 10 years.

10. Chongqing

According to data from the Fangtianxia Monitoring Center, the average price of new houses in Chongqing in 2015 was 7,028 yuan/square meter, and the average wage in the region this winter was 6,181 yuan/month. The difficulty coefficient of buying a house is 0.12. If you buy a 100-square-meter house in full without food or drink, it will take 113 months, which is about 9 years.

From the above, we can see that wages in Beijing, Shanghai and Guangzhou are much higher than those in other cities, but housing prices are also very strong. The difficulty of buying a house is obviously greater than that in other cities. However, due to the abundant employment opportunities in Beijing, Shanghai and Guangzhou, many young people still choose to buy houses here. The strong demand in first-tier cities still drives the property market to rise. In some places where wages are not high, the pressure on housing prices is not that great. Choosing a city also means choosing an attitude towards life. Beijing, Shanghai and Guangzhou are still the places where young people can realize their dreams.

(The above answer was published on 2016-01-20, please refer to the actual relevant current home purchase policies)

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