May 19th, 2022 at 05:42 pm
5 most expensive African countries to rent a room and their monthly average salaries
Abraham Maslow in his hierarchy of needs stated accommodation as one of the basic things every individual needs. Nonetheless, this basic need doesn’t come cheap. The expensiveness of accommodation has led many who cannot afford to sleep on the streets, and those lucky enough to end up living in slums where the basic social amenities are not available.
When asked which countries cost in terms of rent, African countries make it to the top list of the most expensive places to rent.
The yardstick for measuring the affordability of a place is based on the price to income ratio. The price to income ratio is defined as the ratio between the price of an average home compared to the average yearly household income in a particular region.
Another yardstick that was used is the affordability index. What this means is that the measurement is based on “an average person’s ability to purchase a particular item, such as a house in a particular region, or to afford the general cost of living in the region.”
MOST EXPENSIVE AFRICAN COUNTRIES
1 . Ghana
This country is located in the western part of Africa. This country has a property price to income ratio of 87.65% and an affordability index of 0.04%. Normally, a one-bedroom apartment in the country‘s capital Accra could cost as much as $884.46 for a month. The monthly average salary of someone residing in Ghana after tax has been deducted can amount to $344.84.
2 . Kenya
This country is found in the East of Africa and has some of the most beautiful tourist sites you could ever imagine. The country’s property price to income ratio is 24.24% and the affordability index stands at 0.29%. The cost of a one-bedroom accommodation in Nairobi, the country’s capital cost an average of $389.62 per month. The monthly average salary of someone residing in Kenya after tax has been deducted can amount to $493.38.
3 . Algeria
This North African country has a property to income ratio of 18.25% and an affordability index of 0.61%. Generally, the cost of a one-bedroom apartment in the center of Algiers, which is the capital city of Algeria can cost an average price of $211.85 for a month. The average monthly salary an Algerian earn is about $250.09.
4 . Nigeria
Nigeria is one of the most populated countries on the continent. The country has a property to income ratio of 16.11%, even as the affordability index is 0.31%. When renting an apartment in the busy city of Lagos, Nigeria’s capital, the cost of a one-bedroom apartment in the city could cost as much as $1,567 for a month. The average income a Nigerian earns is $232.93.
5 . Egypt
The property to income ratio of the country is 12.04% and an affordability index of 0.61%. The cost of a one-bedroom apartment in the country’s capital city cost about $225.04 a month. Meanwhile, the residents of Cairo can earn an average income of $258.89.
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