Average price per square meter of an apartment in Europe 2022, by city

Geneva, Switzerland, was the most expensive city to buy an apartment in Europe in the third quarter of 2022. The square meter price in Geneva was over 15,000 euros in that quarter, over 1,000 euros higher than the second city in the ranking, Zurich.

Cost of rent

Rents across the major cities in Europe increased significantly in 2022. One of the main factors driving high rents across European cities is the same as any other consumer driven business. If demand outweighs supply, prices will inflate. The drive for high paid professionals to be located centrally in prime locations, mixed with the low levels of available space, high land, and construction costs all help keep rental prices increasing.

Mortgage rates

Average mortgage interest rates across Europe as of the second quarter of 2022 were all under five percent, except in Hungary and Poland. On an individual level, a difference of one percent would most likely mean thousands of euros in interest on the mortgage a person is paying, making timing key in house purchasing. Mortgage interest rates tend to be lower in Nordic countries due to the financial stability and reliability of its borrowers. Other factors that influence the mortgage interest rates include inflation, economic growth, monetary policies, the bond market and the overall conditions of the housing market. More stable markets also tend to have higher average prices.