This is the real cost of housing across Europe

Apr 1, 2016

This article is published in collaboration with JLL Real Views.

Image: Estate agents boards are lined up outside houses in south London. REUTERS/Andrew Winning

JLL Staff Reporter

Europe’s capital cities are a big draw for many millions of people seeking dynamic places to live and work.

There is however, one major drawback for their residents; the cost of housing. The price of the properties across Europe’s capitals has been heading upwards in recent years – some faster than others – and now swallows a sizeable chunk of residents’ disposable income when they’re renting or saving for a deposit.

Unsurprisingly London is the most expensive place for aspiring homeowners. While nominal wage growth for those who live in London has increased by 15 percent since 2005, the average price of London property has almost doubled, increasing by 92 percent.

Philip Wedge-Bernal Residential Research EMEA Analyst at JLL, says: “The global recession has undoubtedly played a significant role in this trend, with domestic wages since the worldwide crash failing to keep pace with significant house price growth.”

So which European cities offer the best value for renting and buying a one bedroom apartment?

Image: JLL

Don't miss any update on this topic

Create a free account and access your personalized content collection with our latest publications and analyses.

License and Republishing

World Economic Forum articles may be republished in accordance with the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International Public License, and in accordance with our Terms of Use.

The views expressed in this article are those of the author alone and not the World Economic Forum.