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09 Jun. 2024

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The real estate market in Europe: the cost of apartments in different European cities

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The real estate market in Europe: the cost of apartments in different European cities

Since the beginning of the full-scale invasion, a large number of Ukrainians have lost their homes, so buying real estate in Europe has become a reliable investment option for them. Find out more about how much housing costs in different European countries and how many years you need to save for it

Legal assistance on migration issues for Ukrainians in Ukraine and abroad
Legal assistance on migration issues for Ukrainians in Ukraine and abroad
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According to the Deloitte Property Index report, Slovakia is the least affordable country. To buy a 70-square-meter apartment in a new building here, you need to save 14.1 annual salaries. The Czech Republic took the second place with 13.3 annual salaries, and Serbia took the third position with 11.8 annual salaries.

Poland, Estonia, Lithuania, Croatia, and Ireland are in the middle of the ranking. To buy a similar apartment, citizens of these countries need to save 8-11 annual salaries. For the Netherlands, Portugal, the UK, Greece, Romania, and Italy, this figure is 6-8 annual salaries, and for Slovenia and Denmark, it is 5-6 annual salaries.

The most affordable countries are Norway and Belgium. To buy an apartment in a new building with an area of 70 square meters, 5-6 annual salaries will be enough.


In the previous article, we talked about the dynamics of housing price growth and real estate purchases in Ukraine


Where are the most expensive and cheapest apartments in Europe?


Real estate prices in different European countries vary significantly. For example, in Poland, the average price per square meter is €1,975. And the lowest real estate prices are offered by Bosnia and Herzegovina - 1,237 euros per square meter.


Let's look at the European countries with the most affordable apartment prices:

1. Greece - 1,330 euros per square meter;

2. Romania - 1,417 euros per square meter;

3. Portugal - 1,723 euros per square meter;

4. Serbia - 1,785 euros per square meter;

5. Slovenia - 1,927 euros per square meter.


The highest prices and housing are presented in the following countries:

1. Austria - 4,925 euros per square meter;

2. Germany - 4,800 euros per square meter;

3. France - 4 639 euros per square meter;

4. Norway - 4,204 euros per square meter.

Real estate prices are growing rapidly in Lithuania (23%). Significant price increases are also observed in Bosnia and Herzegovina (27%) and Croatia (20%). On the other hand, prices in the UK (-18.8%), Denmark (-9.7%) and France (-0.2%) have fallen.


In the previous article, we discussed with real estate experts Anton Taranenko and Andriy Stavniuk where it is better to invest in real estate: Ukraine vs. abroad.




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Where in Europe is it most profitable to buy apartments?


Latvia offers some of the cheapest apartments in Europe. Housing in Riga will cost about $1500 per square meter in a new building. But if you are ready to do the renovation yourself, you can find offers below a thousand dollars per square meter. Outside the capital, prices are even lower. For example, in the city of Daugavpils, you can find apartments where a square meter costs $300.

The situation on the Polish real estate market is similar to Croatia. In Warsaw, the cost of apartments starts at 50-60 thousand euros. However, outside the capital, you can buy a home for about 40 thousand euros.

You can find out more about which cities in Poland are the most popular and what kind of housing Ukrainians most often choose to buy here.


In Romania, you can buy an apartment for 30-40 thousand euros, in Croatia - from 50-60 thousand euros per apartment. Private houses cost from 100-150 thousand euros.

The cost of apartments in Bulgaria starts from 30-40 thousand euros, and private houses - from 50-60 thousand euros. In popular tourist regions, prices can be much higher.


If you still have any questions about buying real estate or the rules of stay in a particular country, please contact a qualified lawyer.  You can order a specialist consultation or full legal support by following this link.


We remind you! Rental prices are rising across Europe. This is due to the shortage of available real estate, significant flows of labor migration and the influx of refugees from Ukraine. Read more about which European cities have the most expensive rental housing in 2024.


Want to know more? Read the latest news and useful materials about Ukraine and the world in the News section.






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