With the iPhone 5 now officially available in 31 major territories around the world, people start to wonder in which countries you can buy the iPhone 5 the cheapest. In the picture above (click it for full view) you can see the pricing across 25 different localized Apple Online Stores, including applicable VAT and other taxes (created by Setteb.it). It shows that after 21 percent tax, Italy become home to the most expensive iPhone 5, the 64GB iPhone 5 cost €949 ($1,226), compared to an estimate of €715 ($924) in the US after tax and €720 in Hong Kong. Even with the higher price in Italy, Federico Viticci noted on Twitter that the line at one Apple Store in the country numbered more than three hundred on Friday morning.

Demand for iPhone 5 has been incredible with over five million sales in its first launch weekend. Even in countires such as Italy, where the iPhone 5 is way more expensive, shipping estimates are currently listed at 3-4 weeks.

Apple’s having trouble keeping up with high demand for the iPhone 5. Shipping estimates for the handset on its online store  are currently listed at 3-4 weeks, even in countries like Italy that just opened up orders. In some countries that don’t yet have official sales, a secondary market has sprung up. For instance, in China earlier this week, some scalpers are offering the 16GB iPhone 5 for as much as $1,700.

Source [TNW]