The cheapest cities for buyers and renters


New research has revealed the most expensive and cheapest cities to rent and buy in Europe by analyzing various metrics in 38 European countries.

According to research, Monaco is the most expensive city to buy a property, with prices of £ 62,860 per m2.

People living in Monaco are known for their lavish lifestyle with expensive goods and fast cars. Their real estate is no different – those who rent a condo in downtown Monaco can expect to pay an average of £ 2,973.12 for a one-bedroom apartment. That comes down to £ 59.46 per square meter per month, compared to £ 62,860.27 per square meter for those looking to buy a house in the city.

Research reveals that Sarajevo – the capital of Bosnia and Herzegovina – is the cheapest European capital to buy property with prices ranging from £ 1,321 per m2.

The most expensive capital for buyers

Country

Capital city

A V. price per m2 – buy center (£)

Avg Price per m2 – buy outskirts (£)

Mortgage interest rate (%)

A V. price of utilities ** (£)

Happiness index

Average net salary (£)

Monaco

Monaco

62860.27

41963.48

2.27

160.55

65

5 236.33

Hong Kong

Hong Kong

24066.14

17172.39

2.38

174.94

77

2 333.05

Singapore

Singapore

13,876.57

7267.55

2.03

86.17

32

3,001.88

China

Beijing

13031.97

6438.88

5.16

32.91

84

971.05

UK

London

12189.00

6058.57

2.55

187.33

17

3 126.61

France

Paris

11016.50

8114.69

1.23

155.59

21

2429.33

Gabon

Libreville

10947.96

7715.09

22.67

81.57

112

407.87

Luxembourg

Luxembourg

10139.17

7164.72

1.61

192.04

8

3,370.47

Taiwan

Taipei

9670.41

5880.20

1.58

62.04

24

1,209.25

Senegal

Dakar

9047.35

8596.17

9.00

126.91

92

388.50

Sweden

Stockholm

8901.41

5047.49

2.00

66.52

seven

2 652.42

Japan

Tokyo

8570.01

5269.38

1.17

155.70

56

2,613.16

Norway

Oslo

7726.82

5008.80

2.35

125.53

6

2 930.29

Finland

Helsinki

7489.87

4032.08

1.18

85.15

1

2,144.94

Israel

Jerusalem

6814.96

4960.65

3.80

156.20

12

2,049.82

Britain’s capital is infamous for co-housing and a seemingly out of control housing market. In London, a one-bedroom apartment can cost an average of £ 1,685.32, or £ 33.71 per m2 for tenants. The lucky ones with deep pockets in the market to buy a house in London, however, pay an average of £ 12,189.00 per square meter for personal space in the city, or £ 6,058.57 per square meter beyond.

The land of promise or the land of expensive real estate? One-bedroom apartments in the US capital Washington DC cost an average of £ 1,676.61 in the city center, or £ 1,314.59 on the outskirts. This translates to an average price per square meter of £ 33.53 and £ 26.29 respectively.

The most expensive capital for tenants

Country

Capital city

One V. price 1 bed – center (£)

One V. price 1 bed – periphery (£)

A V. price per m2 – center rent * (£)

A V. price per m2 – rent outskirts * (£)

A V. price of utilities ** (£)

Happiness index

Average net salary (£)

Monaco

Monaco

2,973.12

2612.10

59.46

52.24

160.55

65

5 236.33

UK

London

1,685.32

1275.71

33.71

25.51

187.33

17

3 126.61

united states of america

Washington DC

1676.61

1314.59

33.53

26.29

116.82

19

4,220.81

Hong Kong

Hong Kong

1658.27

1141.07

33.17

22.82

174.94

77

2 333.05

Singapore

Singapore

1584.87

1068.23

31.70

21.36

86.17

32

3,001.88

Ireland

Dublin

1397.33

1206.85

27.95

24.14

122.89

15

2,515.49

Luxembourg

Luxembourg

1328.32

1056.35

26.57

21.13

192.04

8

3,370.47

The Netherlands

Amsterdam

1303.20

1055.58

26.06

21.11

142.28

5

2,785.15

Sweden

Stockholm

1258.41

853.88

25.17

17.08

66.52

seven

2 652.42

Denmark

Copenhagen

1253.48

939.37

25.07

18.79

134.98

2

2,777.84

Haiti

Port au Prince

1242.07

675.83

24.84

13.52

98.64

143

417.31

Norway

Oslo

1191.67

947.61

23.83

18.95

125.53

6

2 930.29

Switzerland

Bern

1155.16

829.58

23.10

16.59

140.81

3

4,032.95

New Zealand

Wellington

1130.89

884.05

22.62

17.68

95.42

9

2,626.61

Iceland

Reykjavik

1124.03

975.06

22.48

19.50

78.67

4

2,416.99

If you are looking for a place with hot summers, a rich culture and low real estate prices, Sarajevo is the place for you. A one-bedroom apartment in this Bosnian capital will cost you on average £ 224.86 per month, or just £ 4.50 per square meter. Outside the city center it’s even more affordable: £ 147.49 per month for a bed, which comes down to £ 2.95 per m2.

The capital of Montenegro, Podgorica, is the second cheapest European city to rent your personal space. For a T2 in the center, you can expect to pay an average of £ 276.40, or £ 201.61 for a less central condo.

The cheapest European capital for tenants

Country

Capital city

One V. price 1 bed – center (£)

One V. price 1 bed – periphery (£)

A V. price per m2 – center rent * (£)

A V. price per m2 – rent outskirts * (£)

A V. price of utilities ** (£)

Happiness index

Average net salary (£)

Bosnia and Herzegovina

Sarajevo

224.86

147.49

4.50

2.95

107.74

64

533.42

Montenegro

Podgorica

276.40

201.61

5.53

4.03

89.74

72

426.34

Albania

Tirana

286.81

175.05

5.74

3.50

55.27

93

345.64

Bulgaria

Sofia

329.15

246.80

6.58

4.94

85.65

88

674.17

Serbia

Belgrade

339.67

208.29

6.79

4.17

124.60

48

433.93

Hungary

Budapest

356.25

270.79

7.13

5.42

117.72

53

707.85

Greece

Athens

362.62

334.85

7.25

6.70

126.81

68

666.14

Romania

Bucharest

367.55

249.68

7.35

4.99

88.11

46

655.29

Croatia

Zagreb

411.86

301.72

8.24

6.03

153.04

60

832.16

Cyprus

Nicosia

452.58

376.97

9.05

7.54

111.87

39

1,107.26

Ukraine

Kiev

459.36

288.73

9.19

5.77

84.76

110

543.49

Lithuania

Vilnius

465.42

310.85

9.31

6.22

97.66

38

922.45

Estonia

Tallinn

469.96

350.33

9.40

7.01

153.48

40

1,093.86

Slovenia

Ljubljana

547.15

421.59

10.94

8.43

174.94

29

1 089.12

Slovakia

Bratislava

549.04

392.06

10.98

7.84

151.84

34

999.03

CIA Landlord research used the average rental price per square meter by dividing the monthly rates by 50, since the global average size of a one-bedroom apartment is 50 m2.

All data was collected from city-specific pages on numbeo, combined with data from the Global Happiness Index.


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