The cost of renting in some of Europe’s major cities is soaring, with London leading the pack, reaching record-high rental prices.
According to Rightmove and Euronews, the average rent in London hit £2,694 (€3,220) per month, an increase of 2.5% compared to last year.
London's high rents are a reflection of economic factors like rising mortgage rates and maintenance costs.
How Does London Compare?
Despite London's staggering prices, it is not alone in Europe when it comes to sky-high rents.
German data analytics company Statista examined the rental costs in 23 major European cities and revealed that Amsterdam is the priciest city for a one-bedroom furnished apartment, with average monthly rents of €2,275.
Although expensive, Amsterdam is still nearly €1,000 cheaper than London.
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After Amsterdam, Rome and Paris rank as two of the most expensive cities for renters. Renting in Rome costs around €2,000 per month, while living in Paris comes with a price tag of €1,862.
Dutch Cities Dominate the List
Other Dutch cities like Rotterdam, Utrecht, and The Hague also make the top 10 list of priciest rental markets.
In Rotterdam, renters pay around €1,795 per month, while The Hague and Utrecht follow closely with rents around €1,790 and €1,746 respectively.
Munich, Germany's cultural hub, also ranks high with rents averaging €1,770 a month.
Affordable Alternatives
If you’re looking for more budget-friendly cities, Budapest, Athens, and Turin offer more affordable rents. Budapest is the most affordable among the cities studied, with an average rent of €950 per month. Athens follows at €1,000, and Turin is slightly higher at €1,100.
These cities provide more affordable alternatives while still offering vibrant urban life.
The Most Expensive Cities to Rent:
London, UK: €3,220 (record high)
Amsterdam, Netherlands: €2,275
Rome, Italy: €2,000
Paris, France: €1,862
Rotterdam, Netherlands: €1,795
The Hague, Netherlands: €1,790
Munich, Germany: €1,770
Utrecht, Netherlands: €1,746
