It’s well known to many that living somewhere like London is going to require deep pockets in comparison to the rest of the country. Often the cost of living in capital cities is astronomical in comparison to elsewhere in the same country.

But how does the rest of Europe compare? We found the average rent and house price per square metre, for each European country and their respective capital cities.

 

How House Prices Compare Across Europe

Wherever you go, the housing market is becoming harder to enter for new buyers. Across all European countries, this gets worse when you look exclusively at property in capital cities. On average the price per square meter of property is 115% more expensive than the country average.

In the top 5 capital cities, property prices are over 180% more expensive than the country average. The Russian capital, Moscow comes out on top with demand for housing pushing prices up to be over 400% more expensive than the country average.

Russia

Moscow

446.42%

United Kingdom

London

353.85%

Italy

Rome

233.57%

Ukraine

Kiev

188.21%

Portugal

Lisbon

183.84%

At the other end of the table, price differences between the capital and the rest of the country are far smaller, with Athens a slight increase of 18.74%

Greece

Athens

18.74%

Montenegro

Podgorica

27.27%

Belgium

Brussels

29.91%

Iceland

Reykjavik

34.17%

Luxembourg

Luxembourg City

44.22%

House price data for all countries:

Country

Average House Price per Square Metre (€)

Capital City House Price per Square Metre (€)

Difference in prices

Albania

634.99

1579.68

148.77%

Austria

3317.00

6311.36

90.27%

Belarus

982.30

1457.65

48.39%

Belgium

2446.22

3177.82

29.91%

Bosnia And Herzegovina

908.99

1694.42

86.41%

Bulgaria

757.61

1479.26

95.25%

Croatia

1623.93

2577.23

58.70%

Czech Republic

2341.24

4884.65

108.64%

Denmark

3501.30

6513.98

86.04%

Estonia

1563.68

2554.92

63.39%

Finland

2774.32

7037.86

153.68%

France

4070.89

10946.49

168.90%

Germany

3475.99

5986.96

72.24%

Greece

1357.20

1611.49

18.74%

Hungary

1295.76

2766.32

113.49%

Iceland

3270.85

4388.41

34.17%

Ireland

2697.62

5589.07

107.19%

Italy

2041.59

6810.13

233.57%

Kosovo

727.56

1175.46

61.56%

Latvia

1004.99

1766.16

75.74%

Lithuania

1299.20

2686.24

106.76%

Luxembourg

5989.80

8638.75

44.22%

Macedonia

744.18

1246.73

67.53%

Malta

1921.35

3961.24

106.17%

Moldova

547.67

849.88

55.18%

Montenegro

1061.23

1350.59

27.27%

Netherlands

2862.97

7463.20

160.68%

Norway

4132.78

8189.70

98.16%

Poland

1422.16

2953.75

107.70%

Portugal

1548.11

4394.17

183.84%

Romania

991.33

1718.90

73.39%

Russia

875.86

4785.91

446.42%

Serbia

1069.33

2382.13

122.77%

Slovakia

1388.76

2961.92

113.28%

Slovenia

1941.98

3512.91

80.89%

Spain

1933.35

5160.54

166.92%

Sweden

3328.01

8811.25

164.76%

Ukraine

577.94

1665.68

188.21%

United Kingdom

3127.47

14193.85

353.85%

 

How Monthly Rent Compares Across Europe

Just like the cost of buying a house, renting property can vary hugely when you compare the country average to the capital city.

At over 2000 Euros a month, London comes out on top as the most expensive and also one of the biggest increases (230%) from the country average.

For some countries, the difference is far lower, with Icelandic renters paying  just 28% more per month in the capital city.

In the top 5 capital cities, the costs of renting really come in at a premium. The struggle to rent in a city is something many people across Europe feel, but in Russia and the UK, the cost of renting in the capital is over 200% more than elsewhere in the country.

Across the full top 5, rental costs are over 140% more expensive in the capital city.

Russia

Moscow

287.61%

United Kingdom

London

230.92%

Ukraine

Kiev

165.91%

France

Paris

147.68%

Italy

Rome

143.77%

Not all capital cities have the same pressures however! 
Price differences in these five cities and country averages, all come in at less than 50% with Iceland again coming out in the bottom five, with rent only 28% more expensive in the capital Reykjavik.

Iceland

Reykjavik

28.59%

Luxembourg

Luxembourg City

29.92%

Moldova

Chisinau

35.13%

Kosovo

Pristina

40.71%

Greece

Athens

44.69%

Rental costs for all countries and their capital cities.

Country

Average Rent Per Month (€)

Average Rent In Capital City (€)

Difference Rent

Albania

213.74

438.76

105.28%

Austria

815.16

1287.06

57.89%

Belarus

287.88

444.57

54.43%

Belgium

781.04

1131.56

44.88%

Bosnia And Herzegovina

181.38

410.37

126.25%

Bulgaria

269.23

508.27

88.79%

Croatia

355.25

612.10

72.30%

Czech Republic

548.76

1001.84

82.56%

Denmark

959.48

1790.64

86.63%

Estonia

427.69

698.30

63.27%

Finland

766.99

1368.08

78.37%

France

754.63

1869.05

147.68%

Germany

772.70

1277.78

65.37%

Greece

351.22

508.18

44.69%

Hungary

390.31

680.00

74.22%

Iceland

1460.23

1877.70

28.59%

Ireland

1271.04

2328.59

83.20%

Italy

617.90

1506.22

143.77%

Kosovo

240.11

337.87

40.71%

Latvia

338.17

526.52

55.70%

Lithuania

334.04

648.17

94.04%

Luxembourg

1647.90

2140.92

29.92%

Macedonia

182.17

308.85

69.54%

Malta

859.40

1327.14

54.43%

Moldova

229.42

310.02

35.13%

Montenegro

277.78

411.47

48.13%

Netherlands

1027.77

2087.73

103.13%

Norway

1079.51

1679.49

55.58%

Poland

445.18

817.31

83.59%

Portugal

595.18

1303.64

119.03%

Romania

287.28

522.85

82.00%

Russia

328.48

1273.22

287.61%

Serbia

230.34

496.84

115.70%

Slovakia

459.13

809.62

76.34%

Slovenia

465.69

776.18

66.67%

Spain

617.06

1260.78

104.32%

Sweden

714.92

1469.78

105.59%

Ukraine

277.38

737.57

165.91%

United Kingdom

825.41

2731.44

230.92%

 

 

METHODOLOGY:

Taking crowdsourced data from Numbeo, we found an average of monthly rent rates for 1 and 3 bedroom apartments, both in the capital city, and for the country in general.

We then found the house price per square metre for the capital city and country for comparison.

Using the data, we then found the percentage increase between capital cities and the country overall.

 

*Switzerland was excluded due to insufficient data