Venezuela: House price to income ratio
The house price to income ratio is the ratio of the cost of a typical upscale housing unit of 100 square metres, compared to the countrys GDP per capita. Normally this ratio will be much higher in low income countries than in high income countries.
The formula is: (Price per square metre / GDP per capita)*100. The house price to income ratios published by the Global Property Guide are based on the Global Property Guides own proprietary in-house research, but we use the IMFs GDP per capita figures.
Venezuela has no house price statistics, but there are construction cost time-series at the Banco Central de Venezuela site, which also has general statistics. There are also statistics at the Instituto Nacional de Estadistï¿½ca under the Ministerio del Poder Popular para la Planificaciï¿½n y Desarrollo.
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