Israel listed as being second most expensive country to buy a home

Israel was listed as the second most expensive country in which to buy a home, according to research performed by Australia-based Compare The Market.Israel ranked number 2 out of 39 countries listed, where houses tend cost in the upwards of $9,780 per square meter, which would account for 26.6% of a household's disposable annual income.The research compared average property prices against normal household earnings and disposable income to determine what the cost per square meter would be as a percentage of annual income.Israel ranked just below South Korea, where the cost per square meter as a percentage of annual income is 39.6%, with a lower average of disposable income across the board and a higher average price per square meter. The two ranked above Switzerland (26.5%), Luxembourg (23.7%) and Japan (23.2%).Turkey was listed as being the most affordable country to buy a home, with a cost per square meter as a percentage of annual income coming in at only 4.2%. Following closely behind is the United States, where houses cost $3,683 per square meter. And with most families having over $67,020 of annual disposable income, the cost per square meter as a percentage of annual income is 5.5%.