Which European capitals are the most expensive? - Average rents. From 3,350 euros in Geneva, to 470 euros in Skopje
Housing is the largest household expenditure. Including utilities, it accounts for almost a quarter (23.6%) of household expenditure in the EU, according to Eurostat. The burden is particularly heavy for renters in European capitals, and rents vary widely across Europe.
Among 40 European cities in 38 countries, the average monthly rent for a two-bedroom apartment ranged from 470 euros in Skopje to 3,350 euros in Geneva.
London is the only capital city to exceed €3,000, ranking second among the 40 cities. Tenants pay an average of €3,050 for a two-bedroom apartment.
According to analysts, the main reason why rents vary so much across Europe is that housing markets are local. In places like Geneva, London, Dublin or Stockholm, there is strong demand from well-paid workers, international companies, students and newcomers, while the supply of housing has not grown fast enough. This means that when more people want to live in a city than there are homes available, rents tend to rise.
The average rent in Paris is 2,500 euros. This puts the French capital at the top of the EU's four largest economies. A two-bedroom apartment costs 1,750 euros in Berlin, 1,700 euros in Madrid and 1,650 euros in Rome.
At the bottom of the list, Pristina comes just after Skopje (470 euros) with a price of 520 euros. Ankara is the third cheapest city at 770 euros for a two-bedroom apartment. Renters pay an average of 900 euros in Sofia, followed by Nicosia at 910 euros. Bulgaria and Cyprus have the cheapest capitals within the EU for rent. The average rent is also below 1,000 euros in Tirana (920 euros) and Bucharest (930 euros).
Rents have risen across much of Europe in recent years, analysts say. The growth has been driven by a combination of post-pandemic urban demand, population growth, migration flows, rising interest rates and high construction costs.
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