Lisbon is the second cheapest capital in Europe to buy a house
29 Jul 2021
An international study shows a picture of house prices in the European space, with Brussels and Paris leading the extremes of the ranking.
Lisbon is the second cheapest capital to buy a house in Western Europe. In the Portuguese capital you can find a house for 227,751 euros, and the average cost of living is 1,048 euros per person per month. Only in Brussels is it more accessible: for “only” 221,073 euros it is possible to live in the heart of the European Union (EU), and the average cost of living in the Belgian city is 1,255 euros per month. At issue are data from the British company CIA Landlord Insurance, which classified the main capitals according to their average home purchase prices.
Still on Lisbon, it is important to say that, according to the report, buying a house in the center of the city costs 4,547 euros per square meter (m2), while in the surroundings it costs 2,653 euros per m2. And more: on average, those who apply for a mortgage loan to buy a house spend 58 years to pay the bank – this is the highest value among the countries analyzed.
As far as the rental market is concerned, being a tenant costs an average of 860 euros per month, this in a country where the average net salary is 848 euros.
Returning to the ranking of the cheapest cities to buy a house, Madrid completes the podium of the most accessible. In the Spanish capital, a property costs an average of 246,752 euros, the equivalent of 4,965 euros per m2 in the city center and 3,065 euros on the outskirts.
Paris is the most expensive city On the other side of the table, that is, leading the list of the most expensive cities to buy a house in Western Europe, is Paris, where a house costs an average of 620,809 euros. A house in the center of the French capital costs an average of 13,710 euros per m2 while in the surroundings it costs 10,380 euros per m2. In Paris the average cost of living is 1,762 euros and the average net salary of residents is 2,870 euros
The podium is completed with London (UK) and Luxembourg (Luxembourg), who occupy second and third places on the podium, respectively. In these two cities, buying a house costs, on average, 581,395 and 557,825 euros, in the same order. If the property is located in the city center, the amount to be paid is €12,890 and €11,247 per m2.
In the top five of the most expensive cities to buy a house are Stockholm (Sweden) and Bern (Switzerland), with average prices of 426,051 and 410,435 euros, respectively. Buying a house in the center of the Swedish capital costs something like 9,847 euros per m2, while in the center of the Swiss city the value drops a little, to 7,187 euros per m2.