Geneva, Switzerland, was the most expensive city to buy an apartment in Europe in the first quarter of 2024. The square meter price in Geneva was nearly 15,650 euros in that quarter, about 2,000 euros higher than the second city in the ranking, Zurich. Cost of rent Rents across the major cities in Europe increased significantly in 2023. 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 help keep rental prices increasing. Mortgage rates The average mortgage interest rates across Europe in 2023 were all under five percent, except in Czechia, Romania, Hungary, and Poland. On an individual level, a difference of one percent would most likely mean thousands of euros in interest on the mortgage a person is paying, making timing key in house purchasing. Mortgage interest rates tend to be lower in Nordic countries due to the financial stability and reliability of its borrowers. Other factors that influence the mortgage interest rates include inflation, economic growth, monetary policies, the bond market and the overall conditions of the housing market. More stable markets also tend to have higher average prices.
A table comparing the cost of living in various European Union countries, including expenses for rent, utilities, food, and transportation in major cities
According to a mid-2024 index, *********** was the most expensive country to live in Europe, with an index score of ****.******** followed in the second place with around ** points less.
Luxembourg stands out as the European leader in quality of life for 2025, achieving a score of 220 on the Quality of Life Index. The Netherlands follows closely behind with 211 points, while Albania and Ukraine rank at the bottom with scores of 104 and 115 respectively. This index provides a thorough assessment of living conditions across Europe, reflecting various factors that shape the overall well-being of populations and extending beyond purely economic metrics. Understanding the quality of life index The quality of life index is a multifaceted measure that incorporates factors such as purchasing power, pollution levels, housing affordability, cost of living, safety, healthcare quality, traffic conditions, and climate, to measure the overall quality of life of a Country. Higher overall index scores indicate better living conditions. However, in subindexes such as pollution, cost of living, and traffic commute time, lower values correspond to improved quality of life. Challenges affecting life satisfaction Despite the fact that European countries register high levels of life quality by for example leading the ranking of happiest countries in the world, life satisfaction across the European Union has been on a downward trend since 2018. The EU's overall life satisfaction score dropped from 7.3 out of 10 in 2018 to 7.1 in 2022. This decline can be attributed to various factors, including the COVID-19 pandemic and economic challenges such as high inflation. Rising housing costs, in particular, have emerged as a critical concern, significantly affecting quality of life. This issue has played a central role in shaping voter priorities for the European Parliamentary Elections in 2024 and becoming one of the most pressing challenges for Europeans, profoundly influencing both daily experiences and long-term well-being.
High inflation driven by rising energy and food costs are causing a severe cost of living crisis in Europe. As of September 2022, the majority of people surveyed in seven European countries advised they had curbed their spending as a consquence, ranging from 69 percent in Italy to 54 percent in Sweden.
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The average for 2021 based on 165 countries was 79.81 index points. The highest value was in Bermuda: 212.7 index points and the lowest value was in Syria: 33.25 index points. The indicator is available from 2017 to 2021. Below is a chart for all countries where data are available.
The average transaction price of new housing in Europe was the highest in Norway, whereas existing homes were the most expensive in Austria. Since there is no central body that collects and tracks transaction activity or house prices across the whole continent or the European Union, not all countries are included. To compile the ranking, the source weighed the transaction prices of residential properties in the most important cities in each country based on data from their national offices. For example, in Germany, the cities included were Munich, Hamburg, Frankfurt, and Berlin. House prices have been soaring, with Sweden topping the ranking 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 Norway top this ranking, meaning residential property prices have surged the most 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 in Europe varied from country to country. In 2020, roughly half of all homes in Germany were owner-occupied whereas home ownership was at nearly ** percent in Romania or around ** percent in Slovakia and Lithuania. These numbers were considerably higher than in France or Italy, where homeowners made up ** percent and ** 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.
Amsterdam is set to maintain its position as Europe's most expensive city for apartment rentals in 2025, with median costs reaching 2,500 euros per month for a furnished one-bedroom unit. This figure is double the rent in Prague and significantly higher than other major European capitals like Paris, Berlin, and Madrid. The stark difference in rental costs across European cities reflects broader economic trends, housing policies, and the complex interplay between supply and demand in urban centers. Factors driving rental costs across Europe The disparity in rental prices across European cities can be attributed to various factors. In countries like Switzerland, Germany, and Austria, a higher proportion of the population lives in rental housing. This trend contributes to increased demand and potentially higher living costs in these nations. Conversely, many Eastern and Southern European countries have homeownership rates exceeding 90 percent, which may help keep rental prices lower in those regions. Housing affordability and market dynamics The relationship between housing prices and rental rates varies significantly across Europe. As of 2024, countries like Turkey, Iceland, Portugal, and Hungary had the highest house price to rent ratio indices. This indicates a widening gap between property values and rental costs since 2015. The affordability of homeownership versus renting differs greatly among European nations, with some countries experiencing rapid increases in property values that outpace rental growth. These market dynamics influence rental costs and contribute to the diverse rental landscape observed across European cities.
Geneva stands out as Europe's most expensive city for apartment purchases in early 2025, with prices reaching a staggering 15,720 euros per square meter. This Swiss city's real estate market dwarfs even high-cost locations like Zurich and London, highlighting the extreme disparities in housing affordability across the continent. The stark contrast between Geneva and more affordable cities like Nantes, France, where the price was 3,700 euros per square meter, underscores the complex factors influencing urban property markets in Europe. Rental market dynamics and affordability challenges While purchase prices vary widely, rental markets across Europe also show significant differences. London maintained its position as the continent's priciest city for apartment rentals in 2023, with the average monthly costs for a rental apartment amounting to 36.1 euros per square meter. This figure is double the rent in Lisbon, Portugal or Madrid, Spain, and substantially higher than in other major capitals like Paris and Berlin. The disparity in rental costs reflects broader economic trends, housing policies, and the intricate balance of supply and demand in urban centers. Economic factors influencing housing costs The European housing market is influenced by various economic factors, including inflation and energy costs. As of April 2025, the European Union's inflation rate stood at 2.4 percent, with significant variations among member states. Romania experienced the highest inflation at 4.9 percent, while France and Cyprus maintained lower rates. These economic pressures, coupled with rising energy costs, contribute to the overall cost of living and housing affordability across Europe. The volatility in electricity prices, particularly in countries like Italy where rates are projected to reach 153.83 euros per megawatt hour by February 2025, further impacts housing-related expenses for both homeowners and renters.
https://search.gesis.org/research_data/datasearch-httpwww-da-ra-deoaip--oaioai-da-ra-de456603https://search.gesis.org/research_data/datasearch-httpwww-da-ra-deoaip--oaioai-da-ra-de456603
Abstract (en): These data were gathered in order to determine the cost of living as well as the cost of production in selected industries in the United States and several Western European countries. The study is comprised of nine industries (cotton and woolen textiles, glass, pig iron, bar iron, steel, bituminous coal, coke, and iron ore) and contains family-level information on the household composition, income and expenditures of workers in these industries. Additional topics covered include sources of income, ages and sex of children, detailed occupation of the household head, detailed expenditures for food as well as nonfood items, and characteristics of the family's dwelling units. Industrial workers and their families in 24 states in the United States and in 5 European nations (France, Germany, Great Britain, Switzerland, and Belgium). Smallest Geographic Unit: country 2006-12-07 The Analytic Variables data file has been revised to correct various discrepancies found in the original file. Additional data including various average price indices, were also added to the file as well as SAS, SPSS, and Stata setup files, SAS transport, SPSS portable, and Stata system files. The original codebooks are now available in PDF format. (1) Units of measurement for variables describing income, expenditure, and goods consumed can be found in the codebook. (2) For variable OCC464 (464 Occupation Codes) the following codes are undocumented: 206, 207, 247, and 503. (3) The data file for Part 2 is a text file containing interviewer comments which provide additional information about the household. There are no setup files to accompany the Part 2 data file.
Attitudes towards the European Union. Globalisation. Assessment of the economic and financial crisis, and the EU policy.
Topics: 1. Standard trends and attitudes towards the EU: general life satisfaction; assessment of the national and the European economic situation; assessment of the world economic situation; assessment of the personal job situation and the financial situation of the own household; assessment of the situation on the labour market in the own country and the situation in the environment in the own country; assessment of the national situation compared to the average of the European Union countries regarding the economic situation, the situation on the labour market, cost of living, energy prices, quality of life, and the situation of the environment; future expectations in the above fields; most important problems of the country; EU membership of the own country is a good thing; benefits from the own country’s membership in the EU; development of the own country, the EU, and the USA in the right direction; trust in institutions (media, internet, army, national legal system, political parties, national government, national parliament, European Union, United Nations, regional or local authorities, and NATO); positive or negative image of the EU; EU´s main features; knowledge test on the EU institutions: European Parliament, European Commission, Council of the European Union, European Central Bank; confidence in these institutions; attitude towards a European Monetary Union; attitude towards the enlargement of the EU; assessment of the speed of building Europe; the EU´s most important issues; knowledge test about the EU: number of member states, result of the Irish referendum; membership of Switzerland (Split A) and Iceland (Split B) in the EU; satisfaction with the democracy in the own country and in the EU; understanding of the processes of the EU; assessment regarding the consideration of national interests in the EU; assessment of the EU´s growth speed; citizens of different countries share more common characteristics than differences; lack of ideas for Europe; the EU must meet the global challenges.
The EU, the world, and globalisation: most important factors for the global influence of a country or of a group of countries; assignment of these factors to the EU; attitude towards globalisation (scale: opportunity for economic growth, increasing social inequalities, demand for global governance, identical interests of the USA and the EU in dealing with globalisation, protects from price increases, peacekeeping, threat to national culture, is profitable only for large companies but not for the citizens, leads to foreign investment in the own country, promotes the development of poorer countries, leading to more openness to other cultures, the EU has sufficient power to defend their economic interests, EU protects its citizens from the negative effects of globalisation (Split A) or enables European citizens to better benefit from the positive effects of globalisation (Split B); globalisation as an opportunity or as a threat to the national economy; comparison of the performance of the European economy with the American, Japanese, Chinese, Indian, Russian and Brazilian economy; preferred orientation of the national society to meet global challenges.
Economic and financial crisis: expected worsening or recovery of the economic crisis; expected development of the individual financial situation of the household in the next months; most important actors to combat the crisis; positive or negative associations with the following terms (image): company, welfare state, competitiveness, free trade, protectionism, globalisation, liberalisation, trade union, reforms, public administration, flexibility, competition, security, and solidarity; attitude towards a free enterprise economy (scale: too strong intervention of the state in the lives of the individuals, economic growth prior to environmental protection (Split A) or environmental protection prior to economic growth (Split B), free competition is a guarantee of prosperity); attitude towards a reduction of the value of material possessions; approval of increased development of new technologies; impression of loss of personal purchasing power; expected change in the living conditions of future generations; suspected improvement of the lives of the young generation in the country by emigrating to another country; most important personal values; values that represent best the EU.
Subsidiarity: European, national or local level has the most impact on the own living conditions; sufficient consideration of regional interests in decisions of the European Union.
Only in EU 27 was asked: awareness of the current Swedish presidency of the EU; awareness of the change of presidency to Spain; optimism for the future of the EU; better protection against the economic crisis by maintaining the old currency; mitigation of the negative impact of the...
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Consumer Price Index CPI in European Union decreased to 133.23 points in May from 133.24 points in April of 2025. This dataset provides - European Union Consumer Price Index (CPI) - actual values, historical data, forecast, chart, statistics, economic calendar.
The house price to income index in Europe declined in almost all European countries in 2023, indicating that income grew faster than house prices. Portugal, Luxembourg, and the Netherlands led the house price to income index ranking in 2023, with values exceeding *** index points. Romania, Bulgaria, and Finland were on the other side of the spectrum, with less than 100 index points. The house price to income ratio is an indicator for the development of housing affordability across OECD countries and is calculated as the nominal house prices divided by nominal disposable income per head, with 2015 chosen as a base year. A ratio higher than 100 means that the nominal house price growth since 2015 has outpaced the nominal disposable income growth, and housing is therefore comparatively less affordable. In 2023, the OECD average stood at ***** index points.
https://www.gesis.org/en/institute/data-usage-termshttps://www.gesis.org/en/institute/data-usage-terms
Questions concerning the European Union. Effects of globalisation. European integration. Construction of Europe, European Parliament and Elections. International conflicts: Georgia. Mobility. EU budget. Representation of the levels of public authorities in the EU.
Topics: 1. Frequency of political discussions with friends and own opinion leadership; life satisfaction; assessment of the current economic situation in the own country, in Europe, and in the world, assessment of the personal job situation, the financial situation of the own household, the employment situation, and the situation of the environment in the own country; assessment of the current situation in the own country regarding: residential area, health care, pensions, unemployment benefits, cost of living, relations between migrants, dealing with inequalities and poverty, affordability of energy and housing, as well as the way the public administration runs; future expectations concerning: the own life, the national economic and employment situation, the situation of the environment in the own country, the personal job situation, the economic situation in the EU, and in the world; comparison of economic and employment situation, cost of living, energy prices, quality of life, and environmental situation in the own country with the average of the European countries; most important problems in the own country; most important problems facing the respondent; existing or future membership of the own country in the EU as a good thing; benefits from the country’s membership in the EU; development of the own country and the European Union in the right direction; trust in institutions (justice, political parties, public authorities, national government, national parliament, EU, UN, NATO); assessment of the EU; importance of the EU for the respondent: more stable economy through the EU membership of the country; only in EU 27 countries in the euro area: more stable economy through the affiliation of the country to the euro area; EU 27, Macedonia, Croatia, Turkey, and the Turkish Republic of Northern Cyprus: attitude towards the following statements: own political efficacy in the EU as well as in the own country, and political efficacy of the own country in the EU, understanding how the EU works, EU imposes its views on the own country, national government is sensitive to concerns of the own citizens, national government cares about the concerns of European citizens; knowledge of the selected bodies of the EU (European Parliament, European Commission, Council of the European Union, European Central Bank); assessment of the importance of these institutions as well as confidence in these institutions; assessment of the current speed of building Europe, and desired speed (card, figures); changes in the purchasing power of the own household in the past five years; financial difficulties at the end of the month; assessment of the prospects for the lives of today’s children compared with the own generation; expected improvement of the prospects for living in the own country; knowledge test about the EU (member states, presidency); only EU 27: preferred level of political decision-making: national government or jointly within the EU regarding selected issues (fighting crime, unemployment and terrorism, taxation, defence and foreign affairs, immigration, educational system, pensions, environment protection, health, social welfare, agriculture and fishery, consumer protection, research, support of structurally weak regions, energy, competition, transports, economy, and combating inflation); again all: attitude towards selected propositions: European monetary union with the euro as the common currency, common foreign and defence policy of the EU member states, EU enlargement, higher speed of building Europe in some countries; preferred issues to be emphasized to strengthen the EU; awareness of the current presidency of France and the future presidency of the Czech Republic in the EU Council.
http://www.cis.es/cis/opencms/ES/2_bancodatos/Productos.htmlhttp://www.cis.es/cis/opencms/ES/2_bancodatos/Productos.html
Assessment of the development of the EU. Economy and environmental protection. Global warming and climate change.
Topics: Frequency of political discussions with friends and own opinion leadership; life satisfaction; future expectations regarding personal life, the financial situation of the own household, the national economic situation, the personal job situation, and the economic situation in the EU; comparison of the national situation with the average of the other European countries concerning: economy, employment, cost of living, energy prices, and quality of life; most important national political issues; voting behaviour and the European Parliament; (only in EU 27): voting behaviour in the last elections to the national parliament; assessment of the current or future EU membership (Turkey, Croatia, and Macedonia) of the own country as a good thing; assessment of the benefits of an EU membership; in the Turkish Cypriot community was asked: assessment of the full application of EU legislation in the own country as a good thing; reasons for and against the application of EU legislation in the own country; again all: reasons for and against an EU membership; development of the own country and the European Union in the right direction; trust in institutions; EU image; importance of the European Union for the respondent (associations); agreement with statements regarding the EU membership (more safety through EU membership, more economic stability through membership in the EU and the euro area, effectiveness of the own voice in the EU and in the own country, consideration of the concerns of the European citizens by the European parliament with regard to European issues, the right to vote with respect to European technical issues, understanding how the EU works, consideration of national interests by the EU, EU imposes its views on the own country); importance of the own voice and the voice of the own country in the EU; knowledge of the European Parliament, the European Commission, the European Council, and the European Central Bank; assessment of the role of these institutions in the life of the European Union; trust in these institutions, and reasons for trust or distrust; comparison of the present purchasing power of the own household with five years ago; financial difficulties at the end of the month; expectations regarding the future life of today´s children in comparison with the own generation; assessment of the transparency of the national public administration as well as of the EU institutions; personal importance of transparency for the respondent; knowledge test on the European Union (including the number of member states); preference for decision-making at national or at European level regarding: fighting crime, unemployment, inflation, and terrorism, taxation, defence, immigration, educational system, pensions, and environmental protection; health and social welfare, agriculture and fishery, consumer protection, science and technology, support for regions with economic difficulties, energy, competition, transports, and economy; attitude towards a common European currency, a common foreign policy, a common defence and security policy, and towards further enlargement of the European Union; assessment of the future development of the European Union; most important issues for strengthening the EU for the future; awareness of the current EU presidency of Slovenia; in Slovenia was asked: importance of the Slovenian EU presidency; awareness of the upcoming regular change of presidency to France; in France was asked: importance of the French EU presidency; again all: approval or rejection of an EU enlargement with the following countries: Bosnia and Herzegovina, Serbia, Montenegro, Kosovo, former Yugoslav Republic of Macedonia, Croatia, Albania, Turkey, Ukraine, Switzerland, Norway, and Iceland; attitude towards the EU membership of Turkey; attitude towards the EU membership of the countries of the Western Balkans to help to stabilize the region; attitude towards globalisation (scale: opportunity for economic growth, increases social inequality, common interests of the European Union and the United States, protection from price increases, peacekeeping in the world, threat to national culture, profitable only for companies but not for citizens, more foreign investments in the own country, helps the development of poor countries, need for common global rules, openness to other cultures); globalisation as an opportunity for national companies to profit from the opening of markets versus threat of national jobs and companies; attitude towards the role of the European Union in globalisation: protection from negative effects of globalisation; enables European citizens to benefit from globalisation; assessment of the performance of the European economy in comparison with the economy in America, Japan, China, India, Russia, and Brazil; impact of globalisation on national companies; attitude towards the...
http://data.europa.eu/eli/dec/2011/833/ojhttp://data.europa.eu/eli/dec/2011/833/oj
The survey shows that Europeans have high expectations from the EU in its role to protect them against global challenges and security risks. Large majorities are looking for an EU that protects them by focussing on security, defence, and the economy. There is wide agreement among EU citizens that EU Member States should be more united to face current global challenges and that the European Union needs more means to deal with the challenges ahead. Citizens are also increasingly aware of the benefits that come with EU membership and see a more important role for the European Parliament. The impacts of inflation and rising cost of living are a major concern, with significant shares of EU citizens expecting their living standards to decrease in the coming years.
Processed data files for the Eurobarometer surveys are published in .xlsx format.
For SPSS files and questionnaires, please contact GESIS - Leibniz Institute for the Social Sciences: https://www.gesis.org/eurobarometer
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This report presents the results of a Eurobarometer survey on social climate, collecting views of some 1,000 people in each country. This survey not only measures how Europeans perceive the current recession and its social impact, but also reveals interesting differences between countries which seem to reflect the strengths and weaknesses of national policies and institutions. The first wave of this special Eurobarometer was conducted one year ago, eight months after the start of the financial and economic crisis. 1. The first group concerns the personal situation of the respondents including their satisfaction with life in general, with the area where they live, with their personal job situation and with the financial situation of their households. 2. The second set covers the general situation of the country and includes the cost of living, the affordability of energy and of housing, the quality of public administration, and the general employment and economic situation. 3. The third set focuses on social protection and social inclusion in the country and contains questions on health care provision, pensions, unemployment benefits, the way inequalities and poverty are addressed and relations between people from different cultural or religious backgrounds.
Since the early 1970s the European Commission´s Standard & Special Eurobarometer are regularly monitoring the public opinion in the European Union member countries. Principal investigators are the Directorate-General Communication and on occasion other departments of the European Commission or the European Parliament. Over time, candidate and accession countries were included in the Standard Eurobarometer Series. Selected questions or modules may not have been surveyed in each sample. Please consult the basic questionnaire for more information on country filter instructions or other questionnaire routing filters. In this study all question modules are in the standard Eurobarometer context: 1. Standard EU and trend questions, 2. Europe 2020 strategy, 3. Financial and economic crisis, 4. European citizenship, 5. EU budget, 6. Knowledge and opinion about statistics.
Topics: 1. Attitudes towards the EU (standard EU and trend questions): life satisfaction; frequency of political discussions about local, national, and European matters with friends and relatives; assessment of the current situation in the following areas: national economy, European economy, personal job situation, financial situation of the own household, national employment situation, quality of life in the own country, quality of life in the EU; expectations for the next twelve months regarding: personal life in general, national economic situation, financial situation of the own household, national employment situation, personal job situation, economic situation in the EU; most important problems in the own country, personally, and in the EU; assessment of the own country’s assumed membership in the EU as a good thing; expectations of benefit from an assumed membership of the own country; assessment of the development in the own country and in the European Union as positive; trust in selected institutions: national legal system, police, army, political parties, regional or local public authorities, national government, national parliament, European Union, and the United Nations; image of the EU; assessment of the immigration of people from other EU member states and from outside the EU as positive; attitude towards additional measures to be taken to fight illegal immigration from outside the EU on EU level, on national level, or on both levels; meaning of the EU to the respondent; right for EU citizens to live or to work in every member state of EU as a good thing; approval of the following statements on the EU: creates conditions for more jobs in Europe, is responsible for austerity in Europe, makes doing business easier in Europe, generates too much bureaucracy, will emerge fairer from the crisis, makes the financial sector behave more responsibly, makes the cost of living cheaper in Europe, makes quality of life better in Europe, helps tackle global threats and challenges, helps protect its citizens, needs a clearer message, is working for its citizens; knowledge of and trust in selected institutions: European Parliament, European Commission, European Central Bank; knowledge test on the EU: number of member states, direct election of the members of the European Parliament by the citizens of each member state, Switzerland is a member of the EU; attitude towards the following issues: European economic and monetary union with one single currency, common foreign policy of all member states, further enlargement, common defence and security policy, free trade and investment agreement between the EU and the USA, common migration policy, common energy policy; attitude towards the creation of an EU army; satisfaction with the democracy in the own country and in the EU; approval of the following statements: respondent understands how the EU works, recognition of the own country’s interests in the EU, EU’s voice counts in the world, globalisation as an opportunity for economic growth, better development of the own country outside the EU, more decisions to be taken at EU level; optimism regarding the future of the EU.
Europe 2020 strategy: likelihood to reach the following objectives by 2020: three quarters of people between 20 and 64 years of age having a job, share of funds invested in research and development reaching 3% of the wealth produced in the EU each year, reduction of EU greenhouse gas emissions by at least 20% (compared to 1990), increase of the share of renewable energy in the EU by 20%, increase of energy efficiency in the EU by 20%, reduction of the share of young people leaving school without qualifications to 10%, at least 40% of the people aged 30 to 34 having a higher education degree or diploma, reduction of the number of people living below the poverty line by a quarter, increase of industry’s contribution to the economy to 20% of GDP; EU is going in the right direction to exit the crisis and face new global challenges.
Financial and economic crisis: impact of the economic crisis on the job market has already reached...
Geneva, Switzerland, was the most expensive city to buy an apartment in Europe in the first quarter of 2024. The square meter price in Geneva was nearly 15,650 euros in that quarter, about 2,000 euros higher than the second city in the ranking, Zurich. Cost of rent Rents across the major cities in Europe increased significantly in 2023. 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 help keep rental prices increasing. Mortgage rates The average mortgage interest rates across Europe in 2023 were all under five percent, except in Czechia, Romania, Hungary, and Poland. On an individual level, a difference of one percent would most likely mean thousands of euros in interest on the mortgage a person is paying, making timing key in house purchasing. Mortgage interest rates tend to be lower in Nordic countries due to the financial stability and reliability of its borrowers. Other factors that influence the mortgage interest rates include inflation, economic growth, monetary policies, the bond market and the overall conditions of the housing market. More stable markets also tend to have higher average prices.