New research has revealed just how much Aussies are prepared to pay for their ideal rental property.
Imovirtual’s latest house renting guide has found the average monthly wage and average monthly rent cost to determine which countries spend the most amount of their wage on housing.
According to the research, on average, Australians spend approximately 29 per cent of their wage on rent, placing it 12th on the table in terms of countries that spend the most on rent. Thirty-five countries were taken into consideration.
Ireland took out the top spot as the country whose residents spend the highest amount of their wage on rent at 40 per cent.
This was followed by Portugal, Luxembourg and Israel, each of whose residents spend approximately 38 per cent of their wage on rent, on average.
Rounding out the top five was Switzerland, whose residents spend around 35 per cent of their wage on rent.
Australia’s neighbouring nation New Zealand came in at number six on the ranking at 33 per cent, followed by Norway, Czech Republic and Iceland, who each recorded 32 per cent.
Next up was Japan with 31 per cent and Mexico with 30 per cent.
The United States and the Netherlands both yielded the same result as Australia at 29 per cent.
On the opposite end of the scale, the ranking pinpointed Greece and Slovenia as the countries whose residents spend the least amount of their wage on rent at 19 per cent.
Meanwhile, Latvia residents spend 21 per cent, while Lithuania and Belgium residents spend 22 per cent of their wage on rent, according to the research.