Sri Lanka, Jan. 24 -- Colombo has been ranked the most unaffordable city in the world for buying property, according to the latest Property Prices Index from Numbeo, the world's largest cost-of-living database.

The data show that the price-to-income ratio in Colombo is 55.3, meaning the average property costs more than 55 times the average annual income.

By comparison, the gross rental yield-the annual rental income as a percentage of property price-is just 3% in the city center and 3.8% outside the center, making property investment less profitable.

Furthermore, the mortgage burden for the average resident is staggering, with mortgage payments equivalent to 774% of annual income. The city's affordability index stands at 0.1, underscor...