Expats are forking out more to rent a home in Europe’s major cities, according to the latest data.
Accommodation web site HousingAnywhere tracks rents across Europe and has pinpointed the most expensive cities to rent a home.
London tops the list for the most expensive apartments, studios and rooms. Renters can expect to pay 1,747 euros for a single bed apartment – up 1% year-on-year.
Amsterdam, in the Netherlands, came second to London. Expats are paying an average 1,683 euros a month to rent a one bedroomed apartment – a rise of 0.5%.
Vienna, the Austrian capital, saw the largest rent increase in the last quarter of 2019, with the cost of apartments surging by 8.9% to 971 euros a month.
Spanish cities also saw large rent rises – with Barcelona rents up 9.6% year-on-year, while rents in Madrid increased 5%.
Steep rent growth for cheaper cities
“The index confirms a continuing rise in rental prices for Q4 2019. The increase in rental growth in the more expensive cities, such as London, Amsterdam and Munich, has decelerated in 2019. This hasn’t been the case for cities that are cheaper by comparison,” said HousingAnywhere CEO Djordy Seelmann.
“These typically cheaper cities have seen a steep rental growth in the past year, most notably; Berlin, Barcelona, Madrid, Vienna, and Brussels.
“The Q4 report reflects what we have been observing for a while now. It will be interesting to see if a ceiling will be reached in 2020 for the most expensive European cities, and which lower priced cities will catch up to the more expensive ones.
“The housing shortage certainly remains as pressing as it has been in past years. Additionally, we expect to see the first effects of those measures implemented by governments and municipalities which were introduced to alleviate the housing shortage.”
Q4 2019 rents – One bedroom apartment
|City||Q3 2019||Q4 2019||Q3 – Q4||Q4 Y-o-Y|
|Amsterdam||€ 1,675||€ 1,683||0.5%||5.4%|
|Barcelona||€ 1,243||€ 1,249||0.5%||9.6%|
|Berlin||€ 1,132||€ 1,142||0.9%||8.3%|
|Brussels||€ 960||€ 963||0.3%||6.8%|
|Florence||€ 971||€ 982||1.2%||3.0%|
|Helsinki||€ 1,398||€ 1,398||0.0%||3.0%|
|London||€ 1,730||€ 1,747||1.0%||3.5%|
|Madrid||€ 1,112||€ 1,127||1.3%||5.0%|
|Milan||€ 1,158||€ 1,180||1.8%||4.1%|
|Munich||€ 1,507||€ 1,525||1.2%||5.4%|
|Rotterdam||€ 1,290||€ 1,297||0.6%||5.6%|
|The Hague||€ 1,208||€ 1,212||0.4%||4.5%|
|Turin||€ 870||€ 876||0.7%||3.3%|
|Utrecht||€ 1,288||€ 1,289||0.1%||3.7%|
|Valencia||€ 892||€ 897||0.6%||4.8%|
|Vienna||€ 964||€ 971||0.7%||8.9%|