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The Best and Worst European Capitals to be a First-Time Buyer

The Best and Worst European Capitals to be a First-Time Buyer

In a study by Together Money, the best European capital city to be a first time buyer is Brussels.

Madrid comes in at number 13, out of a list of the 34 European capitals.

According to the study, the price per square metre of a a apartment in Madrid city centre is €4,617.51. The average monthly net salary is €1,491.96 so that means that people in Madrid are spending a whopping 68.63% of their salary on mortgage repayments. In Brussels, that percentage drops to 43.99%.

Which capital comes out the worst? Moscow!

In Moscow, the price per square metre is €4,291.94 while the average monthly salary after tax is just €822.58, which means that I don´t understand how people can afford to buy an apartment in Moscow.

Which capital has the biggest monthly net salary? Surprise, surprise, it´s Bern in Switzerland with €4,005.36. Number 2 is Luxembourg City with €3432.34 and Oslo is in 3rd position, €3,159.90.

Bern might have a huge average monthly net salary but the price per square metre for a city centre apartment comes in at €10,479.53 so people in Bern spend 62.57% of their monthly salary on a mortgage. In other words, they can afford the high prices.

The 10 Best Cities

  1. Brussels
  2. Bern
  3. Copenhagen
  4. Luxembourg City
  5. Nicosia
  6. Reykjavik
  7. Helsinki
  8. Oslo
  9. Berlin
  10. Amsterdam

 

The 10 Worst Cities

  1. Moscow
  2. Kiev
  3. Budapest
  4. Lisbon
  5. Rome
  6. Prague
  7. Zagreb
  8. London
  9. Ljubljana
  10. Warsaw

 

Interested in reading more? Visit https://togethermoney.com/best-cities-for-first-time-buyers/

 

 

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