One more thing. Sydney houses are way bigger than Parisian or London houses.
Also way way bigger than most houses in Hong Kong. Most people live in apartments there.
The average Sydney household, has a backyard, driveways, and some space for a basketball net or even a pool or tennis court even. You can never get that in London, Paris, and certainly won't get that in Hong Kong. So if you divide the Sydney median price over a square meter price, then Sydney fairs quite well, but is still considered to be the 11th most expensive city in the world by that metric or on a per square meter basis.
But on a median price basis (which buys a far larger property in Sydney than Hong Kong, Paris or London), Sydney comes out to be the second dearest city per property behind Hong Kong and 11th on a per meter basis.
You can manipulate statistics to portray all kinds of things but you need to be very specific and actually stipulate a median price (1.15 million in Sydney) so that we can compare. Which cities in the world have a greater median price than 1.15 million apart from Hong Kong which definitely exceeds that?
Sydney as far as a city is concerned is a pretty amazing place. Literally, I believe it is probably the best city I've been to. there are many great cities around the world but there are not many Sydneys. Sydney is like the girl at school that everyone want to Bonk. And this girl has expensive tastes as well, and probably way out of your range.
Now to rent in Sydney:
A median house worth 1.15 million fetches about $900 to 1,100 AUD per week. Now a house that is 1.15 million is at least 40 minutes out of Sydney. You will not find a house worth 1.15 million within 40 minutes of Sydney.
In other words, $52,000 per year (assuming 1,000 per week)
That's about 36,000 Euros per year.