A recent study conducted by CIA Landlord Insurance to determine the most and least expensive cities to buy a home revealed that the highest average price of a house in Europe is not in London as many would expect but Paris. The average price to buy a home in the French capital is £534,226.88 (620,220 euros). According to CIA Landlord Insurance, about 65% of French people own their homes.
A house in London, which occupied the second spot, had a price of £500,310 (581,210 euros) on average. This corresponds to roughly £11,092 (12,885 euros) per square meter. It is expected that by 2025 about 60% of Londoners will live in rented accommodation. A one-bed flat in the city center of London costs £1,666 (1,935 euros) per month on average, or £1,253 (1,455 euros) if it’s outside the city center. Based on the average price of a house and income, CIA Landlord Insurance estimates it would take roughly 40 years to afford a house in the UK.
Ranked third was Luxembourg where the price of a house was on average £480,027 (557,616 euros), which corresponds to roughly £9,678 (11,242 euros) per square meter in the city center. On the outskirts it falls slightly to £7,073 (8,216 euros) per square meter.
- Paris £534,227
- London £500,310
- Luxembourg £480,027
- Stockholm £366,631
- Bern £353,194
- Amsterdam £349,849
- Oslo £347,788
- Copenhagen £319,815
- Helsinki £313,472
- Dublin £303,184
Top 10 most affordable capital cities in Western Europe to buy a home
Brussels was the capital city in Western Europe where it’s the least expensive to buy a house. On average, houses could be found for £190,241 (221,002 euros), which comes down to £3,148 (3,657 euros) per square meter in the city center, and £2,550 (2,962 euros) on the outskirts. Based on the average price tag of a private property and income, CIA Landlord Insurance estimates that it would take roughly 23 years to buy a house in Brussels.
Second came Lisbon where it is possible to find homes for an average price of just under 200k at £195,988 (227,679 euros), and with an average cost of living of around £1,000 (1,161 euros) per person per month.
Madrid ranked as the third-cheapest capital city in western Europe to buy a home with an average price of £212,339 (246,674 euros), or £4,273 (4,963 euros) per square in the city center, £2,638 (3,064 euros) on the outskirts.
- Brussels £190,241
- Lisbon £195,988
- Madrid £212,339
- Reykjavík £242,221
- Berlin £257,616
- Rome £260,295
- Vienna £288,222
- Dublin £303,184
- Helsinki £313,472
- Copenhagen £319,815
