House prices versus rent by country

Every economy Bullrun holds a reading for: 22 in all, ranked highest first. New Zealand is the highest at +70.63% and Finland the lowest at -8.71%; the median is +35.08%. Each row carries its own period and source, because these providers publish on different calendars - two rows in this table can be more than a year apart.

House prices versus rent by country, ranked

#EconomyPrice-to-rent vs normBandPeriodSource
1New Zealand+70.63%Very stretched2025-Q4OECD
2Spain+66.62%Very stretched2026-Q1OECD
3Norway+65.36%Very stretched2026-Q2OECD
4Canada+60.00%Very stretched2026-Q2OECD
5Netherlands+57.32%Very stretched2025-Q4OECD
6Denmark+54.53%Stretched2026-Q1OECD
7Portugal+52.61%Stretched2026-Q1OECD
8Colombia+50.64%Stretched2026-Q1OECD
9Sweden+45.05%Stretched2026-Q1OECD
10Belgium+39.92%Stretched2026-Q1OECD
11Israel+39.00%Stretched2026-Q2OECD
12Switzerland+31.16%Stretched2026-Q2OECD
13United Kingdom+30.90%Stretched2026-Q2OECD
14Greece+29.94%Stretched2025-Q4OECD
15France+26.70%Stretched2026-Q2OECD
16Euro Area+23.55%Near norm2025-Q4OECD
17Ireland+15.13%Near norm2026-Q2OECD
18Germany+12.00%Near norm2026-Q1OECD
19Austria+11.60%Near norm2025-Q4OECD
20Japan+9.41%Near norm2025-Q4OECD
21Italy-6.62%Below norm2025-Q4OECD
22Finland-8.71%Below norm2026-Q1OECD

How the scale reads

BandWhat it meansEconomies
< -20%Far below norm - far below this country's own long-run average0
-20 to 0%Below norm2
0 to +25%Near norm5
+25 to +55%Stretched10
> +55%Very stretched5

These are the same bands that shade the map on the Global Markets dashboard, so a country's colour there and its band here always agree.

What this measures

How far the price-to-rent ratio sits above or below that economy's OWN long-run average, in percent - buying priced against renting, the housing equivalent of a price-to-earnings ratio. Same 22-economy coverage and the same own-history scoring as the income measure, and the two disagree wherever rents and incomes have moved apart. The bands differ from the income measure's because price-to-rent runs about double price-to-income almost everywhere: rents are sticky and often regulated, prices are not.

Source: OECD analytical house price indicators. Coverage differs from metric to metric because these providers cover different sets of economies, and a gap is left as a gap rather than filled from a proxy - an absent economy is one we hold no reading for, never a zero. See the data license.

Other metrics by country

Global markets dashboard · Every economy scored · Screen stocks by country