Average rental cost of studio apartments in European cities Q1 2019-Q1 2020, by city

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 keep rental prices increasing.

Renting in European cities

As of the first quarter of 2020, London was the most expensive city to rent a furnished studio, one-bedroom apartment or a furnished private room among the 16 European cities surveyed. At 1,157 euros per month, renting a studio in London cost approximately twice as much as renting a studio in Valencia.

Owning a home

In many European countries owning your home is more commonplace than renting – for instance, in Romania, the home ownership rate is more than 96 percent. In the UK, affordability of housing is one of the leading housing concerns, with approximately 87 percent of UK adults agreeing that first-time buyers getting on a property ladder is a very or somewhat serious problem. More in-depth information on the topic can be found in the Statista dossier on residential real estate in Europe.