Where will you make the most money? Top 10 countries with the highest average salaries

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.

Top 10 countries with the highest wages

Switzerland

The average monthly salary in Switzerland (after taxes) is €6085.

Can foreigners buy property in Switzerland?

Without a residence permit, no. You can buy property in Switzerland only if you're one of the following: 1) Swiss citizens, 2) EU citizens with a residence permit category B or C, or 3) people from other countries with a residence permit category C (sometimes banks are enough with category B). At the resorts, foreigners have the opportunity to invest in square meters, but they have a restriction on residence that was established by the local communities.

You can buy an apartment in Switzerland (90 sq.m.) within the limits of €1 035 000–€1 400 000.

The annual interest rate on a fixed-rate mortgage for 20 years is 2.50%.

Renting an apartment in Switzerland costs between €1500 and €1700 for a one-bedroom apartment and between €2700 and €3400 for a three-bedroom apartment.

The cost of utilities is €250.

Luxembourg

The average monthly salary in Luxembourg (after taxes) is €4850. 

Can foreigners buy property in Luxembourg?

Yes, they can buy, sell, and rent. A residence permit or citizenship are not required.

You can buy an apartment in Luxembourg (90 sq.m.) within the limits of €684 000–€922 500.

The annual interest rate on a fixed-rate mortgage for 20 years is 2.33%.

Renting an apartment in Luxembourg costs between €1300 and €1600 for a one-bedroom and €2100 and $2600 for a three-bedroom.

The cost of utilities is €216.

Singapore

The average monthly salary in Singapore (after taxes) is €4500. 

Can foreigners buy property in Singapore?

Yes, but for some types of property, you will have to get a purchase permit from the authorities.

You can buy an apartment in Singapore (90 sq.m.) within the limits of €1 035 000–€1 700 000.

The annual interest rate on a fixed-rate mortgage for 20 years is 3.71%.

It is possible to rent an apartment in Singapore for €1900–€2600 for a one-bedroom or €3500–€5200 for a three-bedroom.

The cost of utilities is €150.

United States

The average monthly wage in the United States (after taxes) is €4300.

Can foreigners buy property in America?

They can do so without restrictions. In the USA, the right to buy and own real estate is the same for foreigners and citizens.

You can buy an apartment in the United States (90 sq. m.) within the limits of €400,000–€660 500.

The annual interest rate on a 20-year fixed-rate mortgage is 6.50%.

Renting an apartment in the United States costs between €1400-€1700 for a one-bedroom and €2300-€2800 for a three-bedroom.

The cost of utilities is €200.

Iceland

The average monthly salary in Iceland (after taxes) is €4300. 

Can foreigners buy property in Iceland?

They can. The only exception is buying land; foreigners can only rent it.

You can buy an apartment in Iceland (90 square meters) within the limits of €390 000–€480 000.

The annual interest rate on a fixed-rate mortgage for 20 years is 7.28%.

Renting an apartment in Iceland costs between €1400 and €1600 for a one-bedroom and between €2000 and €2300 for a three-bedroom.

The cost of utilities is €100.

Qatar

The average monthly salary in Qatar (after taxes) is €3800. 

Can foreigners buy property in Qatar?

They can, but not everywhere. Here is a list of cities and districts where you can buy a home in full ownership: the city of Doha (areas “The Pearl of Qatar”, Al Qasr, Al Dafna, Anaiza, Tayleb, and Jubail); Al Rayyan city (Rawdat Al Jahhaniya district); Lusail city; and resort city Al Khor.

You can buy an apartment in Qatar (90 sq. m.) within the limits of €355 000 — €490 000.

The annual interest rate on a 20-year fixed-rate mortgage is 4,47%.

Renting an apartment in Qatar costs between €900 and €1500 for one bedroom and between €1900 and €2800 for three bedrooms.

The cost of utilities is €95.

Denmark

The average monthly salary in Denmark (after taxes) is €3300. 

Can foreigners buy property in Denmark?

They can, but only if you buy the object for permanent residence. And you will need to get permission to buy from the Ministry of Justice of the country.

Buy an apartment in Denmark (90 sq.m.) is possible within the limits of €340 000–€480 000.

The annual interest rate on a fixed-rate mortgage for 20 years is 3.70%.

Apartments in Denmark can be rented for €800–€1000 for a one-bedroom and €1400–€1800 for a three-bedroom.

The cost of utilities is €200.

United Arab Emirates

The average monthly salary in the United Arab Emirates (after tax) is €3200. 

Can foreigners buy property in the United Arab Emirates?

Yes, however, in some areas there are restrictions on the type of ownership of the property. Whether it will be a leasehold or full ownership depends on the location of the property.

An apartment in the United Arab Emirates (90 sq m) can cost between €200 000 and €300 000.

The annual interest rate on a fixed-rate mortgage for 20 years is 4.39%.

Apartments in the United Arab Emirates can be rented for €110–€1700 for one bedroom and €2300–€3400 for three bedrooms.

The cost of utilities is €165.

Norway

The average monthly salary in Norway (after taxes) is €3100. 

Can foreigners buy property in Norway?

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

You can buy an apartment in Norway (90 square meters) in the range of €370 000 — €530 000.

The annual interest rate on a fixed-rate mortgage for 20 years is 3.93%.

Apartments in Norway can be rented for €800–€1200 for a one-bedroom and €1300-€1700 for a three-bedroom.

The cost of utilities is €195.

Australia

The average monthly wage in Australia (after tax) is €3100.

Can foreigners buy property in Australia?

Non-resident aliens in Australia can only buy new homes, properties under construction, or land for development. However, this must be approved by the Foreign Investment Review Board.

Foreigners with residence permits have slightly more opportunities—in addition to new buildings, you can buy one object on the secondary market for personal residence. And with a residence permit, you can buy any property in any quantity.

You can buy an apartment in Australia (90 square meters) within the limits of €570 000–€730 000.

The annual interest rate on a 20-year fixed-rate mortgage is 6.49 percent.

Renting an apartment in Australia costs €1150-€1400 for a one-bedroom apartment and €1700-€2350 for a three-bedroom apartment.

The cost of utilities is €200.