Average rental cost of studio apartments in European cities 2023, by city

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 keep rental prices increasing.

Renting in European cities

In the third quarter of 2023, Munich was the most expensive city to rent a furnished studio. For one-bedroom apartments or a furnished private room, the most expensive city was Amsterdam. At almost 1,650 euros per month, renting a studio in Munich cost about 1,000 euros more than a studio in Budapest.

Owning a home

In many European countries owning your home is more commonplace than renting – for instance, in Romania, the homeownership rate is over 95 percent. In the UK, affordability of housing is one of the leading housing concerns, with the majority of adults agreeing that first-time buyers getting on a property ladder is a very or somewhat serious problem. More in-depth information on the topic can be found in the report on residential real estate in Europe.