Visit Ukraine - How many years do you need to work to buy your own apartment in different EU countries?

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15 Dec. 2023

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How many years do you need to work to buy your own apartment in different EU countries?

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What is the Housing Affordability Index?
How many years do you need to work to buy your own apartment in different EU countries
What is the average property value in Europe?

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How many years do you need to work to buy your own apartment in different EU countries?

Many Ukrainians currently living abroad are considering buying their own home. At this point, it is important to research the availability of apartments in different EU countries and determine how many years of work you need to do to be able to buy your own property in Europe. Find out how many years it takes to save for an apartment in the EU

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Housing rental prices in Europe are steadily increasing. Therefore, many Ukrainians who currently live abroad and plan to stay in EU countries for permanent residence are thinking about purchasing their own real estate. Moreover, according to experts, in the second quarter of 2023, prices for apartments and houses in European countries decreased by 1.1%.

How affordable are apartments in different EU countries and how many years do you have to work to buy your own property abroad? We will find out further.

What is the Housing Affordability Index?

Assessing the quality of life and the level of economic development of the countries of the world, the indicator of housing affordability is also analyzed. It is determined by the ratio of the value of one's own real estate to the level of salaries in the country and the time it will take to accumulate funds for one's own home.

How many years do you need to work to buy your own apartment in different EU countries

According to the latest Deloitte Property Index 2023 report, the most affordable housing in Europe is in Belgium, Norway and Denmark. It is most difficult to buy real estate in Slovakia, the Czech Republic and Serbia.

To buy an apartment of 70 square meters. m, you need to save your entire salary for: Belgium (4.3 years), Norway (4.7 years), Denmark (5 years), Slovenia (5.6 years), Italy (6.2 years), Romania ( 6.3 years), Greece (6.6 years), Great Britain, the Netherlands, Portugal (7.2-7.5 years), Poland (8.1 years), Croatia (9 years), Ireland (9.8 years ), Hungary (10.2 years), Estonia (10.8 years), Serbia (11.8 years), Czech Republic (13.3 years), Slovakia (14.1 years). To buy an apartment in Germany, you need 90 salaries or 7.5 years.

In total, there are 473 private apartments per 1,000 inhabitants in Europe.

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What is the average property value in Europe?

The highest prices for the purchase of housing were recorded in:

- Austria (4,925 euros/sq.m.) – the most expensive housing in the suburbs of Vienna and in the capital itself, while real estate prices are lower in small towns;

- Germany (4,800 euros/sq.m.) – in the country's most expensive city, Munich, a property with an area of 90 square meters will cost approximately 823,000 euros; in Hamburg, the same property will cost approximately 588,510;

- France (4,639 euros/sq.m.) – despite high prices, the largest number of apartments in 2023 was built in this country (482,200);

- Norway (4,204 euros/sq.m.) – despite the high prices, it is easiest to earn money on housing here.

In general, average prices per square meter. m of housing in European countries are as follows: the Netherlands (4,116 euros/sq.m), Great Britain (3,980 euros/sq.m), the Czech Republic (3,753 euros/sq.m), Ireland (3,473 euros/sq.m), Estonia ( 3122 euros/sq.m), Lithuania (3215 euros/sq.m), Belgium, Denmark (3104 euros/sq.m), Spain (2663 euros/sq.m), Italy (2371 euros/sq.m), Poland (1,975 euros/sq.m.), Romania (1,417 euros/sq.m.) and Greece (1,330 euros/sq.m.).

We will remind you how real estate prices have changed in Ukrainian cities, we wrote here. Read in detail about the cost of housing in Poland at the link.

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VisitUkraine.Today is a service portal for tourists traveling to Ukraine and Ukrainians planning a trip abroad.

On the portal you can order the following products/services:
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FAQ

- - What COVID documents do I need to have with me when entering Ukraine now?
    On July 1, 2023, the Ukrainian authorities lifted the quarantine and other restrictions imposed due to the COVID-19 pandemic. From now on, you do not need to provide proof of vaccination, a negative PCR test result or wear a protective mask to enter Ukraine.
  - Is it safe to visit Ukraine during the war?
    Recently, the number of foreign travelers has increased in Ukraine. They visit the country for various purposes: volunteering, participating in humanitarian programs, filming reports or documentaries, setting up a business, etc. There are currently no cities in Ukraine that are completely safe. And although the main fighting is concentrated in the eastern and southern parts of Ukraine, the entire country is subject to regular rocket attacks.
  - What are your safety recommendations before traveling to Ukraine?
    Here are some important tips:
    • Make electronic copies of all documents and save them on your electronic device so that you always have access to them.
    • Find out in advance the curfew time in the region where you are going.
    • Install the Air Alert app on your smartphone and, upon receiving the signal, immediately go to the nearest shelter. You should also do the same if you hear the corresponding signal on the street.
    • When choosing a hotel, consider the availability of bomb shelters.
    • Inform your family and friends about your route and keep in touch with them.
    • Take out health insurance with extended coverage.
    Do foreigners need to register their stay in Ukraine?
    No, if the period of stay in the country is no more than 90 days. If a foreigner arrives for a period longer than 90 days, in this case, he or she needs a temporary or permanent residence permit, as well as registration at the place of residence.
    Can I enter Ukraine with an expired residence permit?
    Yes. Foreigners (except for citizens of the Russian Federation) and stateless persons have the right to enter and legally stay in Ukraine if they have a temporary or permanent residence permit that has expired or is subject to exchange after February 24, 2022.
    How to enter Ukraine with pets?
    Currently, entry to Ukraine with pets is subject to a simplified procedure. Pet owners must provide the following documents to customs:
    • a veterinary passport of the European standard or a certificate of animal health;
    • proof of valid rabies vaccination;
    • a document on the animal's chipping.
    How do I enter Ukraine with my own car with foreign registration?
    Foreign citizens can import cars with foreign license plates into the territory of Ukraine exclusively for their own use. To cross the border in a car with foreign registration, you need the following documents:
    • foreign passport;
    • driver's license;
    • certificate of registration for the car with valid insurance;
    • international automobile insurance card "Green Card".
    Important: foreign nationals with a residence permit in Ukraine may import a car with foreign license plates for their own use after a written declaration and payment of customs duties.
    What happens to foreigners and stateless persons who are not allowed to enter Ukraine?
    Foreigners and stateless persons who are not allowed to enter Ukraine, when attempting to enter Ukraine at a checkpoint across the state border of Ukraine, do not cross the state border of Ukraine and return as soon as possible to the state from which they came or to the state that issued their passport document. If it is not possible to return a foreigner or stateless person immediately, they stay at the checkpoint across the state border of Ukraine until their return.
    What should I do if I have been banned from entering Ukraine?
    If you become aware of a ban on entry to Ukraine while trying to pass passport control at the border of Ukraine, you should politely ask for a decision to refuse to cross the border, indicating the specific reason for the entry ban. You can appeal the decision to deny entry within 30 days from the date of familiarization with it. It is strictly forbidden to argue with border guards or violate the rules of stay at the checkpoint, otherwise you may be held administratively liable. You should remember the rules of staying at the checkpoint.
  Insurance policy
  Is insurance required to enter Ukraine?
  All foreign citizens are required to have an insurance policy covering the costs of Covid-19 treatment in Ukraine.
  For how long do I have to take out an insurance policy?
  According to the Resolution of the Cabinet of Ministers of Ukraine No. 1236, an insurance policy must be issued for the entire period of stay in Ukraine. The minimum period is not specified.
  Where can I get acquainted with the terms of the insurance contract?
  You can familiarize yourself with the terms and conditions of the insurance contract on our website in the section on insurance policy issuance.
  Is it necessary to buy an insurance policy for children?
  Yes, if a child has foreign citizenship, regardless of age, he or she must have an insurance policy for the entire period of stay in Ukraine.
  I am a foreign citizen, can I buy a policy in Ukraine?
  No, the insurance policy must be presented at the border control.
  What is war risk insurance and what war risks does it cover?
  This policy guarantees monetary compensation in the event of an accident as a result of military operations, passive military risks, terrorist acts, including emergency care, outpatient treatment, hospitalization and repatriation of the insured person (or his/her body in case of death) from the place of stay to the place of his/her permanent residence.
  Who can take out insurance?
  The insurance policy applies to foreign nationals, citizens of another state and stateless persons. There are no age restrictions: minors and people over 70 can buy insurance. In addition, insurance is mandatory for journalists, reporters, correspondents, opinion leaders, and media representatives. This is enshrined in the Law of Ukraine on Insurance (Article 7).
  What is the territory covered by the insurance policy covering war risks?
  The insurance policy is valid on the territory of Ukraine, except for the temporarily occupied territories of Luhansk, Donetsk, Kherson and Zaporizhzhia regions and the Autonomous Republic of Crimea, as well as the territories of direct combat operations (front line).
  Are there any restrictions on the validity period of the insurance policy covering war risks?
  The insurance contract comes into force from the moment the insurance premium is paid in full, but not before the date and time of crossing the state border of Ukraine. You choose the duration of the insurance - it depends on the number of days of your stay in Ukraine.
  I can't pay for the insurance, what should I do?
  If your payment fails, we recommend contacting your bank, as they often do not trust payment systems. You need to confirm that it is you who is making the transaction.
  I have taken out insurance, but I have not received a code. What should I do?
  In this case, we advise you to reload the page, clear the cache, change the language on the page, or use a different browser.
  What should I do if the policy does not arrive at the specified mail for more than 30 minutes?
  Please contact the hotline and provide the data that was specified when applying for insurance.
  Do I need to print out the electronic policy?
  You do not need to print out the electronic insurance policy. It is enough to save it to your phone or tablet to always have access to the document and present it to border control representatives.
  What should I do if I have purchased a policy but my trip is canceled?
  Please inform the portal hotline about the reasons for the trip cancellation and we will be happy to reschedule the dates for you.
  What should I do if I provided incorrect data when applying for an insurance policy?
  You can always contact the portal hotline and we will make the necessary changes to the insurance policy free of charge and promptly.