The average reached a quarterly record rentals in a capital of your country Europeaccording to new research, while other cities are now among the most expensive.
In particular, average rents in London have reached an all-time three-month high of £2,694 (€3,220) per month, an increase of 2.5% on last year, according to new research. The figures, from British property portal Rightmove, are based on an analysis of more than half a million properties advertised for rent on the company’s website between July and September 2024. The average price calculation is based on asking rents for all real estate, from one-bedroom and one-bedroom apartments to multi-bedroom houses. Considering these variables, London is still one of the most expensive places to live, with incomes higher than those in comparable European countries.
Rightmove estimated that the average rent for the most desirable areas of central London was a staggering £3,175 (€3,795), while prices in outer London were more modest at £2,341 (€2,797).
How do London rents compare to their European counterparts?
German data analysis company Statista investigated the cost of rent in 23 major European cities for the first quarter of the year to identify the most expensive places to rent.
Cities such as Milan, Paris, Amsterdam, Berlin, Lisbon, Helsinki, Athens and Rome (but not London) were analyzed to determine exactly how much it costs to rent a furnished one-bedroom apartment.
By crunching the numbers, Statista researchers found that Amsterdam as the most expensive place to rent a one-bedroom apartment. With rents exceeding 2,275 euros per month, the Dutch city, although more expensive than its neighbors on the continent, was almost 1,000 euros per month cheaper than renting in London.
After Amsterdam, Rome and Paris were the most expensive places to rent among the countries surveyed. Renters will have to pay 2,000 euros a month to live in the Eternal City, while anyone who wants to follow in the footsteps of “Emily in Paris” will have to come up with 1,862 euros to mingle with Parisian fashionistas.
Dutch cities Rotterdam, Utrecht and The Hague found in the 10 most expensive places to rent. Rotterdam, with charges of 1,795 euros per month, came fourth on the list, followed closely by The Hague, in fifth place, with monthly rents of 1,790 euros.
Utrecht were relegated to sixth place in the Munichwith the German city’s €1,770 rental cost surpassing its Dutch rival’s €1,746 monthly fee.
Historic Italian cities Bologna and Florence They were at the top of the list, in 11th and 12th place, with rents of around 1,600 euros per month, the same as Prague.
European capitals, Madrid and the Berlinthey were significantly cheaper than London and Amsterdam, with rents in the Spanish city reaching an average of 1,494 euros and 1,500 euros in the German capital.
The “best value” cities
OR Budapesth Athens and the Turin were the most affordable places to rent among the 23 cities surveyed. Budapest took the title for cheapest rentals, with monthly payments just below the 1,000 euro mark.
Tenants in Hungary will have to pay 950 euros per month to live in the country’s capital. Athens charges renters 1,000 euros, while the Italian city of Turin is not far behind, with an average of 1,100 euros. In the case of Athens, however, it is crucial to know whether the “Greek portfolio” can support such income.