Spotlight on New Hotels

Cheapest and Most Expensive Cities for Property Buyers and Renters

Monaco

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

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

Individuals living in Monaco are known for lavish lifestyles with expensive goods and fast cars. Their real estate isn’t any different - those renting a condo in Monaco city center can expect to pay an average of £2,973.12 for a one-bedroom flat. This comes down to £59.46 per square meter per month, as opposed to a whopping £62,860.27 per square meter for those looking to buy a home in the city.

The research finds out that Sarajevo - the capital of Bosnia and Herzegovina - is the cheapest European capital to buy a property with prices sitting at £1321 per m2.

Most Expensive Capitals for Buyers

Country

Capital

Av. price per m2- buy center (£)

Av price per m2 - buy outskirts (£)

Mortgage Interest Rate (%)

Av. utility prices** (£)

Happiness index score

Average salary net (£)

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

13876.57

7267.55

2.03

86.17

32

3,001.88

China

Beijing

13031.97

6438.88

5.16

32.91

84

971.05

United Kingdom

London

12189.00

6058.57

2.55

187.33

17

3,126.61

France

Paris

11016.50

8114.69

1.23

155.59

21

2,429.33

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

7

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

 

Infamous for co-housing and a property market that seems out of control is the capital of Great Britain. In London, a one-bed flat can cost an average of £1,685.32, or £33.71 per m2 for those renting. The lucky ones with deep pockets in the market to buy a London home however pay an average of £12,189.00 per square meter for a plot of personal space in the city, or £6,058.57 per square meter further out.

The Land of Promise, or the land of pricey real estate? One-bedroom flats in the American capital Washington D.C. go for an average of £1,676.61 in the city center, or £1,314.59 in the outskirts. This translates to an average price per square meter of £33.53 and £26.29 respectively.

Most Expensive Capitals for Renters

Country

Capital

Av. price 1 bed flat - center (£)

Av. price 1 bed flat - outskirts (£)

Av. price per m2 - rent center* (£)

Av. price per m2 - rent outskirts* (£)

Av. utility prices** (£)

Happiness index score

Average salary net (£)

Monaco

Monaco

2,973.12

2612.10

59.46

52.24

160.55

65

5,236.33

United Kingdom

London

1,685.32

1275.71

33.71

25.51

187.33

17

3,126.61

United States of America

Washington D.C.

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

7

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

Reykjavík

1124.03

975.06

22.48

19.50

78.67

4

2,416.99

 

If you’re looking for a place with warm summers, a rich culture and low property prices Sarajevo is the place to be for you. A one-bedroom flat in this Bosnian capital will on average set you back £224.86 a month, which is only £4.50 per square meter. Outside the city center is even more affordable: £147.49 per month for one bed, which comes down to £2.95 per m2.

The capital of Montenegro, Podgorica, is the second-cheapest European city to rent your own bit of personal space. For a one-bed flat in the center you can expect to pay £​​276.40 on average, or £201.61 for a condo that’s less centrally located. 

Cheapest European Capital for Renters

Country

Capital

Av. price 1 bed flat - center (£)

Av. price 1 bed flat - outskirts (£)

Av. price per m2 - rent center* (£)

Av. price per m2 - rent outskirts* (£)

Av. utility prices** (£)

Happiness index score

Average salary net (£)

Bosnia and Herzegovinaa

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

Kyiv

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

 

The research by CIA Landlord used the average renting price per square meter by dividing the monthly rates by 50, as the worldwide average size of a 1-bed flat is 50m2.

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

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