Average residential real estate square meter prices in Europe, per country 2019

Average prices of 120 square meter apartments located in the most important cities of 38 European countries were highest in Monaco, the United Kingdom, France and Austria in 2019. These cities could either be the administrative capital, the financial capital and/or the center of the rental market. Newly-built and pre-sale property prices were not included. An apartment located in the United Kingdom's most important city would therefore cost approximately 21,179 euros per square meter. The source does not specify the cities and states that the numbers provided in this ranking have been taken from domestic web advertisements, and not from national statistical bureaus. This is because no European level body exists that collects and tracks house prices for the EU-28 or the European continent as a whole. As of July 2018, the average price for a house in the UK was 231,163 British pounds.

Housing in Sweden the most expensive

Considering the RHPI of houses in Europe (the price index in real terms, which measures price changes of single-family properties adjusted for the impact of inflation), however, the picture changes. Sweden, Luxembourg and Belgium top this ranking with indices of roughly 164, 138 and 125 in 2018, meaning residential property is less affordable in these countries. Real values were calculated using the so-called Personal Consumption Expenditure Deflator (PCE), This PCE uses both consumer prices as well as consumer expenditures, like medical and health care expenses paid by employers. It is meant to show how expensive housing is compared to the way of living in a country.

Home ownership highest in Eastern Europe

The home ownership rate (the share of owner-occupied dwellings of all homes) was different in the European countries. In 2017, roughly half of all homes in Germany were owner-occupied whereas home ownership was at nearly 97 percent in Romania or around 90 percent in Slovakia and Lithuania. These numbers were considerably higher than in France or Italy, where homeowners made up 65 percent and 72 percent of their respective populations.

For more information on the topic of property in Europe, visit the following pages as a starting point for your research: real estate investments in Europe and residential real estate in Europe.

Average price of residential property (120 square meter apartments located in the most important cities) in Europe as of December 2019, per country (in euros per square meter)*

Price of 120 m² apartment in most important city of each country, in euros per m²
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Source

Release date

December 2019

Region

Europe

Survey time period

Data extracted on December 6th, 2019

Special properties

* The source does not explain the inclusion or exclusion of certain countries. No data was provided, for example, for the Republic of Ireland, Albania or San Marino; The source did not use official country names, this has been corrected as best as possible.

Supplementary notes

The numbers provided indicate the average price per square meter of 120 square meter apartments located in the centre of the most important city of each country. The source states this can either be the:

  • Administrative capital;
  • Financial capital;
  • The center of the rental market

The source adds other information. They state that data comes from "web advertisements, looking at offers for sale, and offers for rent, of resale apartments and houses", and not from official government data. Additionally, "newly-built and pre-sale property prices are not included", with "properties [being] in excellent condition, with good facilities, and [having been] refurbished or redecorated within the last five years."

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