IN an attempt to compare property prices across the world without them being influenced by exchange rate fluctuations, a company has drawn up a list using The Economist magazine’s Big Mac Index to measure house prices in hamburgers.
The index uses the McDonald’s burger as a standard unit, and Century 21 España real estate agency’s Market Pulse Report has converted prices of homes in 81 cities in 45 different countries into burgers per square metre.
London came at the top of the list, with home prices averaging 7,342 Big Macs per square metre, with New York coming in second at 4,123 burgers and Beijing third at 2,898 burgers per square metre.
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