As housing cost and rental prices are rising due to inflation, it is only logical that young professionals, families and seniors move to Europe, where the cost of living is lower.
If you’re considering a long-term move to the Old Continent and are concerned about rental costs, Deluxe Homes, a vacation management company, suggests narrowing your search to four markets: Stockholm, Vienna, Helsinki and Lisbon.
After calculating the average rent per square meter in some of the most popular locations in the world, the company has created a list of the most expensive and least expensive locations for apartment rentals.
Lisbon emerges as the clear winner, with a price of $1,125 per month (or $21 per square meter) for a one-bedroom apartment of approximately 577 square meters. Portugal was named the best place to retire earlier this year. Despite rising costs in the Portuguese capital, housing remains significantly more affordable compared to other Western European cities.
Lisbon also boasts beautiful beaches that are just a short train or city bus ride from the city center, year-round sunshine, a remarkably diverse cultural scene and excellent cuisine. Due to its growing popularity among remote workers, especially in the technology and startup industries, the city also has a significant expat population.
When it comes to rental costs, Helsinki is the second most economical city. Located on a peninsula in the Gulf of Finland, Finland’s capital boasts a thriving food and design scene and is made up of more than 300 islands. A one-bedroom apartment of 46 square meters will typically cost you $911 per monthaccording to Deluxe Homes.
Global Property Guide conducted a survey of Helsinki’s real estate and rental market in September and found that while an apartment in the city center costs on average, around $1,440, you could find comparable properties for around $1,176 and a studio apartment for $961 in the Alpilla and Kallio neighborhoods, north of downtown.
In terms of lowest rental costs, Vienna and Stockholm are tied for third place. Deluxe Homes notes that although the average rent per square meter in the capitals of Sweden and Austria is approximately the same, Vienna’s average apartment is significantly smaller than Stockholm’s ($1,124 for 539 square feet), at $862 for 413 square feet.
Vienna has been named the most livable city in the world eight times in the past decade, largely due to its world-class cultural scene, first-class infrastructure, and top-notch healthcare and education systems.. In the same report, Stockholm came in at number 43.
The most expensive rental markets are in the United States. New York and San Francisco top the list, with monthly rental costs of $3,325 and $2,987, respectively. London comes in third ($2,208), followed by Boston, Washington, DC, Miami and Los Angeles.
