Where are the biggest salaries? We'll list the top countries in which people are paid the most and tell you what the real estate situation is like there.

Please take note that the average monthly wage for each country is listed after taxes. For a more complete picture, we will also indicate how much real estate costs in the countries mentioned, whether foreigners can buy it, at what level the current interest rate on mortgages is, for how much you can rent an apartment, and how much the utilities cost.

In this material, we use the latest data from the international database Numbeo.

Contents:

  1. TOP 10 Countries with the Highest Salaries
    1. Switzerland
    2. Luxembourg
    3. United States of America
    4. Singapore
    5. Qatar
    6. Hong Kong
    7. Australia
    8. Denmark
    9. Netherlands
    10. Norway

TOP 10 Countries with the Highest Salaries

Average Monthly Salary After Taxes

Let us now look at each of these countries in more detail.

Switzerland

Switzerland regularly ranks among the top countries in many global rankings and has held the number one spot in the ranking of countries by salary level for many years.

According to Numbeo, the average monthly salary in Switzerland after taxes is €6317.91.

Can foreigners buy property in Switzerland?

Yes, but different categories of foreigners have different purchase conditions. Suppose you are not a lucky holder of Swiss citizenship. In that case, you can buy real estate in this country in the following cases: 1) You are an EU citizen with a residence permit of categories B and C; 2) You are a citizen of other countries with a residence permit of category C. It is worth considering that for different categories of foreigners, there is a limit on the amount of housing that can be purchased.

In resort and tourist areas, foreigners have the opportunity to invest in real estate with restrictions on area and quantity — local authorities set restrictions.

Depending on the city, the price per square meter when buying an apartment (according to Numbeo):

  • In the city center, it ranges from 8977 EUR/sq.m. to 26,403 EUR/sq.m. A 90 sq.m. apartment will cost 808,000–2,376,000 EUR.
  • It ranges from 6970 EUR/sq.m to 17,954 EUR/sq.m. outside the city center. A 90 sq.m. apartment will cost 627,000–1,616,000 EUR.

Luxembourg

The small European state, officially known as the Grand Duchy of Luxembourg, is one of the richest countries in the world in terms of gross domestic product (GDP) per capita.

According to Numbeo, the average monthly salary in Luxembourg after taxes is €5361.04.

Can foreigners buy property in Luxembourg?

In Luxembourg, there are no restrictions on the purchase/sale of real estate for foreigners, and a residence permit or citizenship is not required.

Depending on the locality, the price per square meter when buying an apartment:

  • In the city center, it varies from 9000 EUR/sq.m. to 14,000 EUR/sq.m. A 90 sq.m. apartment will cost 810,000–1,260,000 EUR.
  • It ranges from 6000 EUR/sq.m to 10,000 EUR/sq.m. outside the city center. A 90 sq.m. apartment will cost 540,000–900,000 EUR.

United States of America

According to the International Monetary Fund, the United States is the world's number one economy.

According to Numbeo, the average monthly salary in the US after taxes is €4068.26. When talking about the average salary in the US, it is important to understand that the US has a problem with income inequality that is much more pronounced than in other countries on this list.

Can foreigners buy real estate in the USA?

The right to purchase and own real estate in this country is the same for both foreigners and citizens of the country. However, it is worth considering that individual states within the United States can establish their own rules and restrictions on the purchase of real estate on their territory.

Depending on the city, the price per square meter when buying an apartment:

  • In the city center, it varies from 1652 EUR/sq.m. to 16,517 EUR/sq.m. A 90 sq.m. apartment will cost 149,000–1,487,000 EUR.
  • It ranges from 1546 EUR/sq.m to 6236 EUR/sq.m. outside the city center. A 90 sq.m. apartment will cost 139,000–561,000 EUR.

Singapore

Singapore is a city-state that is the gateway to Southeast Asia. Singapore is ranked 3rd in the world's financial centers.

According to Numbeo, the average monthly salary in Singapore after tax is €3999.86.

Can foreigners buy property in Singapore?

Foreigners are allowed to buy real estate in Singapore, but for some types of real estate you will have to obtain permission from the country's Land Department. It is also worth considering that in this country there is an additional tax on the purchase of real estate, which is calculated from its value. This tax is not the same for all foreigners — for people with citizenship of certain countries, it is preferential.

Price per square meter when buying an apartment:

  • In the city center it varies from 15,014 EUR/sq.m. to 27,776 EUR/sq.m. A 90 sq.m. apartment will cost 1,351,000–2,500,000 EUR.
  • It ranges from 9759 EUR/sq.m to 16,041 EUR/sq.m. outside the city center. A 90 sq.m. apartment will cost 878,000–1,444,000 EUR.

Qatar

Qatar is one of the richest countries in the Persian Gulf, with its economy thriving due to its vast oil and natural gas reserves. Qatar has one of the highest GDP per capita in the world.

According to Numbeo, the average monthly salary in Qatar after taxes is €3674.50.

Can foreigners buy property in Qatar?

Yes, but not all over the country. Foreigners can buy and own property in nine zones of the country on a freehold basis, and they can also earn income from property in sixteen zones on a 99-year lease.

Depending on the city, the price per square meter when buying an apartment:

  • In the city center it varies from 3677 EUR/sq.m to 7387 EUR/sq.m. A 90 sq.m. apartment will cost 331,000–665,000 EUR.
  • It ranges from 1471 EUR/sq.m. to 6068 EUR/sq.m. outside the city center. A 90 sq.m. apartment will cost 132,000–546,000 EUR.

night Qatar, Doha

Hong Kong

Hong Kong is a special administrative unit of the People's Republic of China, which has a high degree of autonomy. Hong Kong is the 4th world financial center.

According to Numbeo, the average monthly salary in Hong Kong after tax is €3576.77.

Can foreigners buy property in Hong Kong?

Foreigners have the right to buy and own property in Hong Kong under the same conditions as local residents. However, it is worth keeping in mind that non-residents are subject to additional taxes when buying property.

Price per square meter when buying an apartment:

  • In the city center, it ranges from 18,614 EUR/sq.m. to 34,587 EUR/sq.m. A 90 sq.m. apartment will cost 1,675,000–3,113,000 EUR.
  • It ranges from 12,410 EUR/sq.m. to 24,211 EUR/sq.m. outside the city center. A 90 sq.m. apartment will cost 1,117,000–2,179,000 EUR.

Australia

Australia regularly ranks among the top ten countries in various international rankings such as the Human Development Index, the Index of Economic Freedom, and the Happiness Index.

According to Numbeo, the average monthly salary in Australia after tax is €3455.16.

Can foreigners buy property in Australia?

Non-resident foreigners can only buy new homes, properties under construction, or land for development in Australia, subject to approval from the Foreign Investment Review Board.

Foreigners with a temporary residence permit already have slightly more opportunities — in addition to new buildings, they can also buy one property on the secondary market for personal residence. And with a permanent residence permit, you can buy any real estate in any quantity.

Depending on the locality, the price per square meter when buying an apartment:

  • In the city center, it ranges from 4,914 EUR/sq.m. to 13,808 EUR/sq.m. A 90 sq.m. apartment will cost 442,000–1,243,000 EUR.
  • It ranges from 3306 EUR/sq.m. to 8698 EUR/sq.m. outside the city center. A 90 sq.m. apartment will cost 298,000–783,000 EUR.

Denmark

For many years, the Kingdom of Denmark has been considered one of the happiest countries in the world, the reason for this success being the social model built on the principles of universal welfare.

According to Numbeo, the average monthly salary in Denmark after taxes is €3395.47.

Can foreigners buy property in Denmark?

Non-residents can freely purchase real estate for permanent residence only if they have a residence permit. Without a residence permit, foreigners have the right to purchase only commercial real estate or summer houses, but no more than one property. In order to purchase real estate, a foreigner will be required to obtain permission from the country's Ministry of Justice.

Depending on the locality, the price per square meter when buying an apartment:

  • In the city center, it varies from 2682 EUR/sq.m. to 8448 EUR/sq.m. A 90 sq.m. apartment will cost 241,000–760,000 EUR.
  • It ranges from 1877 EUR/sq.m to 6503 EUR/sq.m. outside the city center. A 90 sq.m. apartment will cost 169,000–585,000 EUR.

Netherlands

The Netherlands, the “land of dams and tulips,” is one of the most highly developed countries in Europe and also ranks among the top most competitive economies in the world.

According to Numbeo, the average monthly salary in the Netherlands after taxes is €3256.44.

Can foreigners buy property in the Netherlands?

There are no significant restrictions on the purchase of real estate by foreign citizens in the Netherlands.

Depending on the city, the price per square meter when buying an apartment:

  • In the city center it varies from 3900 EUR/sq.m. to 10,000 EUR/sq.m. A 90 sq.m. apartment will cost 351,000–900,000 EUR.
  • It ranges from 2900 EUR/sq.m. to 7042 EUR/sq.m. outside the city center. A 90 sq.m. apartment will cost 261,000–634,000 EUR.

Norway

Norway tops the global ranking of the best countries to live and work in. The Scandinavian country is also one of the happiest in the world.

According to Numbeo, the average monthly salary in Norway after taxes is €3,066.63.

Can foreigners buy property in Norway?

Yes, foreigners are allowed to buy property in Norway without restrictions.

Depending on the city, the price per square meter when buying an apartment:

  • In the city center it ranges from 3398 EUR/sq.m. to 9344 EUR/sq.m. A 90 sq.m. apartment will cost 306,000–841,000 EUR.
  • It ranges from 2294 EUR/sq.m. to 6795 EUR/sq.m. outside the city center. A 90 sq.m. apartment will cost 206,000–612,000 EUR.