For many of us, rent is expensive. Seeing a huge chunk of your monthly income disappear from your bank account can be pretty soul-destroying – but in some cities in Europe, the story isn’t actually all that bad.
Deloitte’s annual Property Index compares major cities across the continent to see where people are getting a good deal when it comes to housing, and where people are definitely not. The study looks into how much it costs to buy a home relative to income and also unearths the average rental costs per square metre.
If you’re lucky enough to be buying, stay away from Amsterdam, where house prices are generally fifteen times the average income. Instead, head to Turin, Odense, or Manchester, which are the three most affordable housing markets in the continent – at least according to Deloitte.
But the picture looks pretty different when you turn to rentals. Amsterdam is still pricey, but doesn’t even crack the top five most expensive cities to rent. Manchester is right in the middle for affordability.
Luxembourg City named Europe’s priciest city for renters
The most expensive city for renters is apparently Luxembourg City. There, you’ll be paying €43.40 per sqm every month, which is nearly ten times the rate in Albania’s Durrës, the cheapest on the list. It’s also more than €10 more, per sqm, than the city which came in second place: Paris. Despite high prices, Deloitte reports that Luxembourg’s rental market has actually improved in recent years, although it remains ‘characterised by limited supply’ of desirable ‘well-located housing’.
Following Paris was Dublin, with an average cost of €31.70 per sqm. Both Paris and Dublin have been facing housing crises for some time now, although ‘signs of recovery are present’ in the French capital, according to Deloitte. Ireland, however, has missed house-building goals for the past few years, and will need some serious intervention to return to a sustainable level of housing anytime soon.
London, where renting is notoriously difficult, came 9th overall, with flats costing on average €23.80 (£20.60) per sqm per month.
The top ten most expensive European cities for renters right now
- Luxembourg City, Luxembourg: €43.40
- Paris, France: €32
- Dublin, Ireland: €31.70
- Barcelona, Spain: €29.90
- Oslo, Norway: €27.30
- Madrid, Spain: €27.10
- Amsterdam, Netherlands: €26.30
- Copenhagen, Denmark: €24.80
- London, England: €23.80
- Galway, Ireland: €22.90
You can have a look at Deloitte’s full study, including individual breakdowns on each country, in the 2025 Property Index now.
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