Top 9+ Countries Where Buying a Home Is Almost Impossible

Monaco: The Playground of the Ultra-Rich

Monaco is more than just a tiny speck on the map; it’s a symbol of luxury and exclusivity. With its sparkling marinas and world-famous casinos, Monaco attracts the rich and famous from all over the globe.

But behind the glamour lies a real estate market so expensive that even millionaires might feel a pinch. Here, the average price per square meter can soar above €50,000, making a modest apartment cost as much as a palace elsewhere.

Properties are snapped up by billionaires seeking privacy and tax benefits, leaving almost nothing for the average person. The limited land—just two square kilometers—means there’s never enough housing to go around.

Monaco’s strict residency requirements add another barrier, making ownership a fantasy for most. Even long-time locals can find themselves priced out, as the city-state continues to draw more wealthy investors.

Hong Kong (China SAR): Where Space Is a Luxury

Hong Kong’s skyline is a forest of skyscrapers, but space here is rarer than gold. With mountains pressing in on one side and the sea on the other, the city is forced to build up, not out.

The result? Tiny, expensive apartments—sometimes just big enough for a bed and a microwave.

The average property price hovers around HKD 1.2 million per square meter, pushing homeownership permanently out of reach for many. People often spend decades saving, only to find prices have risen even faster.

Government housing projects try to help, but the sheer demand far outweighs supply. Young families and recent graduates sometimes share “coffin homes”—minuscule spaces that barely fit a person lying down.

It’s a world where even a tiny piece of the city feels like winning the lottery.

Switzerland: High Living, High Prices

Switzerland is famous for its breathtaking landscapes and pristine cities, but living here comes at a steep cost. In places like Zurich and Geneva, the price of a modest home can easily exceed CHF 1 million.

The market is fiercely competitive, with both locals and wealthy foreigners eager to invest. But unlike in some countries, Switzerland puts strict limits on foreign property ownership, making the process even more complicated.

Many Swiss people end up renting for most of their lives, as saving enough for a down payment can take decades. The demand for housing continues to grow, especially in urban areas, pushing prices ever higher.

For those hoping to settle in the Swiss Alps or along Lake Geneva, the dream of homeownership often remains just that—a dream.

Singapore: A City of Sky-High Hopes

Singapore dazzles with its futuristic skyline and spotless streets, but underneath the sparkle is a housing market that’s tough to crack. With very little land and a population that keeps growing, competition for homes is fierce.

The average private property now costs around SGD 1,200 per square foot, making it hard for most people to afford anything beyond a small apartment. Foreign buyers face extra taxes and strict rules, which adds to the challenge.

The government tries to balance things with affordable public housing schemes, but demand keeps outpacing what’s available. Many Singaporeans spend years waiting for a chance at a government flat, while luxury condos remain the domain of the wealthy.

For newcomers and expats, buying a home here can feel like scaling a mountain with no summit in sight.

New Zealand: Priced Out of Paradise

New Zealand’s breathtaking scenery draws people from all over the world, but its housing market has become a storm of soaring prices and shrinking opportunities. In cities like Auckland and Wellington, the average house now costs about NZD 1 million.

Low interest rates and high demand, especially from overseas buyers, have driven prices through the roof. The government has tried to cool things down by restricting foreign ownership, but the impact has been minimal.

First-time buyers often find themselves outbid by investors, while locals are forced to look further and further from city centers for anything affordable. Even small towns have seen price jumps, making homeownership a distant dream for many Kiwis.

The sense of frustration is palpable, as the country’s friendly image clashes with the harsh reality of its property market.

Canada: The Great White North’s Housing Crunch

Canada used to be known for its welcoming neighborhoods and affordable homes, but those days are fading fast, especially in major cities. In Toronto and Vancouver, the average home price has skyrocketed past CAD 1 million.

Factors like low interest rates, a growing population, and foreign investment have all contributed to the crunch. Young Canadians, even those with good jobs, struggle to save enough for a down payment.

Government efforts to control prices have met with mixed results, as demand continues to surge. Many buyers are forced to move to smaller towns or settle for condos instead of houses.

The dream of a backyard and a white picket fence feels more out of reach than ever for many Canadians.

Australia: The Land of the Million-Dollar Home

Australia’s sunny cities and laid-back lifestyle have always drawn people in, but its housing market has turned into a battleground. In places like Sydney and Melbourne, the average house now costs around AUD 1 million.

This surge is driven by low interest rates, generous lending, and investments from overseas. As a result, local families find themselves competing with investors for a limited number of homes.

The government has tried various fixes, but prices keep rising. Many Australians are forced to rent longer, move in with relatives, or give up on the idea of owning a home altogether.

The dream of a place to call your own in Australia is slipping away, replaced by uncertainty and stress.

Iceland: Frozen Out of the Market

Iceland may be known for its dramatic landscapes and friendly people, but its housing market has become a flashpoint of frustration. In Reykjavik, the capital, home prices have soared, fueled by booming tourism and a growing population.

Locals find themselves competing with investors who buy homes to rent out to tourists, leaving fewer options for families. The supply of new housing hasn’t kept up, driving prices even higher.

Young Icelanders often have to rely on family support or settle for rentals. The government has tried to step in, but the pace of change is slow.

For many, the dream of owning a piece of Iceland feels as distant as its glaciers.

Luxembourg: High Wages, Higher Prices

Luxembourg boasts one of the highest standards of living in the world, but its property market tells a different story. The average home price has reached about €1 million, putting ownership out of reach for many.

The influx of expatriates and professionals working in its booming financial sector has driven demand sky-high, while the supply of new homes lags far behind. Locals find themselves competing with wealthy newcomers for limited properties, pushing prices even further up.

Even those with good salaries find it hard to save enough for a down payment. The sense of frustration is growing, as more people are forced to rent or look far outside the capital for something affordable.

What would you do if your dream home was forever just out of reach?

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