Five European Cities Where Rent Is Under $600

Rental costs have slowly been increasing over the last few decades, with some cities costing more than many people can afford. But with 2022 just beginning it is prime time for people to make their yearly plans and think about the possibility of switching up their property, but what if moving abroad was the cheapest option? 

New research by CIA Landlord has revealed the cheapest cities to rent, and buy within Europe by analysing various metrics across 38 European countries and the UK doesn't make the cut. The new study by CIA Landlord Insurance set out to index property prices for both renters and buyers in capital cities across the globe in an effort to find out where people pay the most for what they call home. 

Monaco & Hong Kong are the most expensive capitals for buyers. A one-bedroom apartment in Monaco city centre costs an average of £62,860.27 per square metre to buy, whilst slightly cheaper in the outskirts for an average of £41,963.48 per m2. 

In Hong Kong a one-bed flat in the city centre will sell at an average of £24,066.14 per square metre, and £17,172.39 for areas further outside the city. It’s also worth noting that the average apartment in Hong Kong is only 44 m2, which in the centre would cost £1,058,910.16 respectively. 

Singapore too is a very densely populated city with 8,358 people per square kilometre. This high demand for personal space reflects back onto real estate prices: homes go for an average of £13,876.57 per square metre in the city, whilst the average price per square metre further out is set at £7,267.55

London is the most expensive European capital for renters. A city of nearly 10 million people and home to 270 nationalities and 300 languages is London, the capital of the United Kingdom. Whilst many flock to this metropolis for many reasons, it is Europe’s most expensive city to rent a home. A one-bed flat can cost an average of £1,685.32 - £33.71 per m2 every month, or £1,275.71 outside the city centre, £25.51 per square metre. 

Dublin isn’t a great destination for cheap renting either; one can expect to pay an average of £1,397.33 for a one-bedroom flat in the Irish capital, or slightly less outside the city for £1,206.85 per month.

The third most expensive capital city in Europe for renters is Luxembourg, which isn’t far behind Dublin in terms of monthly prices. A one-bedroom apartment in the city centre will cost an average of £1328.32 per month, which is £26.57 per square metre.

Sarajevo is the cheapest European capital for renters. A one-bedroom flat in this Bosnian capital will on average set you back £224.86 a month, which is only £4.50 per square metre. Outside the city centre is even more affordable: £147.49 per month for a one-bed flat, which comes down to £2.95 per m2.

The capital of Montenegro, Podgorica, is the second-cheapest European city to rent your own bit of personal space. For a one-bed flat in the centre you can expect to pay £??276.40 on average, or £201.61 for a condo that’s less centrally located.