Waterford has ranked second out of 367 cities throughout the world as the most affordable place to buy a home.
It was one of two Irish cities to make the top ten of the 12th Annual Demographia International Housing Affordability Survey, which examines typical household income and typical house prices to gauge how affordable each city is. Limerick took the top spot on the global list.
The survey found that houses in Waterford typically cost €100,000 and the median wage is €47,000. Hence a purchaser can buy a home for 2.1 times their annual income. Waterford tied with seven American cities for second place.
Galway ranked 59th overall in the survey, while Dublin was listed as among the “seriously unaffordable markets”.