Europe’s Costliest Housing Markets: A Compact yet Expensive Region
Poinews.com – New research from Global Property Guide reveals that the most expensive residential markets in Europe are clustered in a relatively small area. Among the top five cities, four are in Switzerland and Luxembourg, with Zurich leading the list at over €18,000 per square metre. Here’s a breakdown of the 10 priciest housing markets, listed from tenth to first place.
Stockholm: A Resilient Market
Sweden’s capital, Stockholm, opens the top 10 with a clear property market rebound. The city, spread across 14 islands where Lake Mälaren meets the Baltic Sea, offers high living standards but limited housing supply. Apartment prices in Stockholm now average €8,380 per square metre, rising 7.2% year-on-year and 17.0% over two years. This growth is notable after a sharp decline in 2022 due to increased interest rates.
Copenhagen: Steady Growth
Denmark’s capital, Copenhagen, also shows strong price increases. Apartment values average €8,405 per square metre, up 14.3% in the last year and 24.0% in two years—the highest growth in the ranking. In contrast, Denmark’s second-largest city, Aarhus, has seen prices drop 16.7% to €4,128 per square metre, while Odense and Aalborg remain below €2,800.
Oslo: A Strong Recovery
Norway’s capital, Oslo, has experienced one of Europe’s most robust housing rebounds. The city’s prices average €9,332 per square metre, reflecting a 6.3% rise in the past year and 14.0% over two years. However, growth is now shifting beyond the capital, with Bergen seeing a 22.4% increase to €6,160 and Trondheim growing by 12.8% to €5,275.
Amsterdam: A Luxury Asset
Amsterdam’s historic canal district has become a prime example of high-value real estate. Persistent housing shortages, stringent planning regulations, and global demand drive prices to €9,437 per square metre. This represents a 13.0% rise in the last year and 19.2% over two years, making the Dutch capital resemble a scarce luxury asset rather than a typical housing market.
Paris: A Slower Recovery
Paris, a globally iconic property market, contrasts with its European peers. Apartment prices in the city average €9,490 per square metre, falling 0.3% year-on-year and 7.3% over two years. It ranks as the weakest performer in the top 10, with the post-Olympic price surge yet to materialize. While prices remain high, cities like Lyon, Bordeaux, and Nantes in France offer significantly lower rates—€4,551, €4,443, and €3,376 respectively.
Luxembourg City: A Wealth-Driven Market
As Europe’s wealthiest country by GDP per capita, Luxembourg hosts one of the continent’s priciest housing markets. In Luxembourg City, a key financial hub, apartment values average €10,941 per square metre. Prices have dipped 0.9% in the past year and 6.9% over two years, but the market still allows a typical one-bedroom apartment to exceed €1 million.
Bern: Hidden Luxury
Bern, Switzerland’s federal capital, is one of the least expensive cities in the top 10, yet it remains a high-value market. Apartment prices in Bern average €9,952 per square metre, decreasing 0.7% in the last year but climbing 4.5% over two years. Strong household wealth and political stability continue to support demand, despite limited housing supply.
Luzern: A Surprising Entry
Luzern, nestled in a picturesque setting where Lake Luc… stands out as a notable addition to the ranking. Its unique location and economic factors contribute to its status as one of Europe’s priciest markets, even though it may not immediately come to mind as a luxury hub.
