Average salary in Chile vs the average house price.
Average gross salary in Chile appears to be about $16,000 (sources: average of OECD data in wikipedia article on salaries by country, data here: https://www.worlddata.info/average-income.php
and here: https://www.ine.cl/prensa/detalle-prens ... 93-en-2017
) The data is a few years out of date, but probably we can assume that the average salary in Chile might be more like $17,000 in 2019.
108 million pesos is stated as the average (US$156,000) is stated as the average apartment for Santiago here: https://unegocios.uchile.cl/imposible-m ... -santiago/
citing GFK Adimark. Article April 2017. If it’s only for apartments, perhaps it could be higher if we include houses?? Maybe $170,000??
According to http://www.plataformaurbana.cl/archive/ ... ma-decada/
4,200UF was the average vivienda cost in Santiago at the end of 2015. That's US$170,000 using the UF rate of today. But only for Santiago.
If Santiago is $170,000 average, then perhaps that means an average of $120,000 for other places, and say $145,000 for the whole country???
Does that (145) look in the ballpark?? (for the whole country including small houses in mediocre barrios of Santiago and poor areas of mediocre towns that some of you would never think of living in?) Does it pass a basic smell test? (I can't find an official source of data? Is there one?) If yes, that would put the average house price at 8-9x salary (probably more like 9x), which might mean the market is overheated or in a bubble. I would expect the ratio to be higher than the 4-6x ratio of US, UK because in a poorer country you will have more people, more earners per house, but not that much?
Hope someone can help me improve this analysis....