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The most unaffordable housing markets in the world

Forever a hot topic at many a dinner party, house prices have received much attention over recent years. Seen as the spark for the global financial crash of 2008, the issue is now back on the agenda with property prices hitting pre-crisis peaks.

The Basel-based Bank of International Settlements (BIS)—known as the central bank of central banks—is one organization that is keeping an eye on the situation.

In its latest quarterly report, it produced comparable cross-country data on residential property prices for 55 countries, measured using price-to-income ratios and how they differ from their historical norm.

Read More Investors leaving housing high and dry

CNBC counts down the 10 most unaffordable housing markets in the world. Spoiler alert: the U.S. doesn't make the list.

By CNBC's Matt Clinch

Posted 29 October 2014

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