The Most Expensive (and Cheapest) Countries in Europe to Buy a Home in 2026
We ranked 31 European countries by price per square meter, by years of local salary needed for a 60 m² apartment and by Eurostat price growth. Price and affordability tell very different stories.
Where in Europe does a home cost the most? We ranked 31 European countries by the average asking price per square meter in the cities we track, then checked the result against local salaries and the latest Eurostat house price index. The price ranking and the affordability ranking turn out to be two very different lists.
Key findings
- Monaco is in a league of its own at €48,000 per m², more than three times the next country, Switzerland (€15,000 per m²).
- After Monaco and Switzerland, the most expensive countries are the United Kingdom (London, €11,200), Norway (€8,900), France (€8,800) and the Netherlands (€8,500).
- The cheapest are Moldova (€1,500 per m²), Bulgaria (€1,800), Romania (€2,100) and Serbia (€2,400), with Greece and Latvia close behind at €2,500.
- Price is not the same as affordability. A 60 m² apartment costs 17.6 years of the average local net salary in France and 15.8 years in Portugal, but only 7.6 years in Estonia and 9.1 years in Ireland.
- Prices are still rising fastest at the cheaper end: Portugal (+16.5%), Bulgaria (+15.5%) and Lithuania (+14.3%) led Eurostat's house price index over the 12 months to Q2 2026, against +4.7% for the EU as a whole. Finland (−2.7%) and France (−0.8%) were the only tracked countries where prices fell.
The full ranking: 31 European countries by price per m²
| # | Country | Cities tracked | Avg price per m² | Avg net salary / month | Years of salary for 60 m² | Price change, 12 months |
|---|---|---|---|---|---|---|
| 1 | Monaco | Monaco | €48,000 | €6,000 | 40.0 | n/a |
| 2 | Switzerland | Geneva, Zurich | €15,000 | €5,650 | 13.3 | n/a |
| 3 | United Kingdom | London | €11,200 | €3,500 | 16.0 | n/a |
| 4 | Norway | Oslo | €8,900 | €3,800 | 11.7 | +4.2% |
| 5 | France | Lyon, Paris | €8,800 | €2,500 | 17.6 | −0.8% |
| 6 | Netherlands | Amsterdam | €8,500 | €3,000 | 14.2 | +4.3% |
| 7 | Sweden | Stockholm | €7,800 | €3,100 | 12.6 | +4.8% |
| 8 | Denmark | Copenhagen | €7,200 | €3,400 | 10.6 | +9.4% |
| 9 | Austria | Vienna | €6,800 | €2,500 | 13.6 | +5.1% |
| 10 | Germany | Berlin, Hamburg, Munich | €6,733 | €2,767 | 12.2 | +0.6% |
| 11 | Finland | Helsinki | €6,200 | €2,800 | 11.1 | −2.7% |
| 12 | Italy | Milan, Rome | €5,850 | €1,950 | 15.0 | +4.0% |
| 13 | Ireland | Dublin | €5,800 | €3,200 | 9.1 | +6.0% |
| 14 | Czech Republic | Prague | €4,800 | €1,600 | 15.0 | +8.6% |
| 15 | Belgium | Brussels | €4,500 | €2,400 | 9.4 | +2.1% |
| 16 | Spain | Barcelona, Madrid, Malaga, Valencia | €4,100 | €1,775 | 11.5 | +12.1% |
| 17 | Slovenia | Ljubljana | €3,800 | €1,500 | 12.7 | +9.1% |
| 18 | Portugal | Lisbon, Porto | €3,800 | €1,200 | 15.8 | +16.5% |
| 19 | Cyprus | Larnaca, Limassol | €3,650 | €1,700 | 10.7 | +7.9% |
| 20 | Slovakia | Bratislava | €3,600 | €1,400 | 12.9 | +13.6% |
| 21 | Poland | Krakow, Warsaw | €3,300 | €1,450 | 11.4 | +6.3% |
| 22 | Hungary | Budapest | €3,200 | €1,300 | 12.3 | +10.2% |
| 23 | Croatia | Zagreb | €2,900 | €1,200 | 12.1 | +12.7% |
| 24 | Lithuania | Vilnius | €2,700 | €1,400 | 9.6 | +14.3% |
| 25 | Estonia | Tallinn | €2,600 | €1,700 | 7.6 | +5.8% |
| 26 | Latvia | Riga | €2,500 | €1,300 | 9.6 | +11.4% |
| 27 | Greece | Athens, Thessaloniki | €2,500 | €1,025 | 12.2 | n/a |
| 28 | Serbia | Belgrade | €2,400 | €950 | 12.6 | n/a |
| 29 | Romania | Bucharest | €2,100 | €1,200 | 8.8 | +12.1% |
| 30 | Bulgaria | Sofia | €1,800 | €1,100 | 8.2 | +15.5% |
| 31 | Moldova | Chisinau | €1,500 | €750 | 10.0 | n/a |
Average asking price per m² and average net monthly salary across the cities we track in each country (SQMData, 2026). "Years of salary" = price of a 60 m² apartment ÷ 12 months of average net salary. Price change = Eurostat house price index (all dwellings, national), latest quarter vs the same quarter a year earlier; n/a where Eurostat publishes no index.
The most expensive countries in Europe
1. Monaco (€48,000 per m²). The principality has some of the most expensive homes in the world. Land is almost non-existent, demand from wealthy residents is constant, and adding space means reclaiming land from the sea. A one-bedroom apartment costs more than a large family house in most other countries on this list.
2. Switzerland (€15,000 per m²). Zurich (€15,800) and Geneva (€14,200) are the two most expensive cities after Monaco. High salaries soften the blow: a 60 m² apartment costs 13.3 years of the average Swiss net salary, less than in France or Portugal.
3. United Kingdom (€11,200 per m²). Our UK figure is for London, where average asking prices are more than double those of most continental capitals.
4–6. Norway, France and the Netherlands (€8,500–8,900 per m²). Oslo and Amsterdam are expensive but backed by high incomes. France ranks lower on price but last for affordability among the large economies, because Paris (€12,500 per m²) pulls the national figure up while salaries do not follow.
The cheapest countries in Europe to buy a home
The five cheapest countries are all in South-Eastern and Eastern Europe: Moldova (€1,500), Bulgaria (€1,800), Romania (€2,100), Serbia (€2,400), and Greece and Latvia (€2,500 each). In all of them, an average apartment costs less than a third of the price per m² in Paris, and most of them have gross rental yields above the European median. See the cheapest cities in Europe for the city-level ranking.
Low prices do not automatically mean easy affordability for locals. Moldova and Serbia have the lowest salaries on the list, so a 60 m² apartment still costs 10–12.6 years of local pay, more than in Ireland or Belgium.
Price vs affordability: a different league table
Measured in years of average local net salary for a 60 m² apartment, the ranking reshuffles:
| Most affordable | Years of salary | Least affordable | Years of salary |
|---|---|---|---|
| Estonia | 7.6 | Monaco | 40.0 |
| Bulgaria | 8.2 | France | 17.6 |
| Romania | 8.8 | United Kingdom | 16.0 |
| Ireland | 9.1 | Portugal | 15.8 |
| Belgium | 9.4 | Italy | 15.0 |
| Lithuania, Latvia | 9.6 | Czech Republic | 15.0 |
Three countries stand out. Portugal has mid-table prices (€3,800 per m²) but some of the lowest salaries in Western Europe, so it is the fourth least affordable country we track, and prices are still rising faster than anywhere else. The Czech Republic is similar: Prague costs €4,800 per m² against an average net salary of €1,600. At the other end, Ireland and Belgium sit mid-table on price, but high incomes make them more affordable than the median country (12.2 years).
Where prices are moving fastest
Eurostat's index shows prices rising in 23 of the 25 tracked countries it covers over the past year, with the strongest growth in markets that were cheap to begin with:
- Portugal +16.5%, Bulgaria +15.5%, Lithuania +14.3%, Slovakia +13.6%, Croatia +12.7%, Spain and Romania +12.1%
- At the other end: Germany +0.6%, France −0.8%, Finland −2.7%
If these trends hold, the gap between the most and least expensive countries will keep narrowing: the cheapest markets are catching up while several of the priciest have flattened.
Frequently asked questions
What is the most expensive country in Europe to buy property?
Monaco, at an average of €48,000 per m². Among larger countries, Switzerland (€15,000 per m² across Zurich and Geneva) is the most expensive, followed by the United Kingdom (London, €11,200 per m²).
What is the cheapest country in Europe to buy a house?
Among the 31 countries we track, Moldova is the cheapest at €1,500 per m² in Chisinau, followed by Bulgaria (€1,800 in Sofia) and Romania (€2,100 in Bucharest). Within the EU, Bulgaria is the cheapest.
Which European country is the least affordable relative to salaries?
Apart from Monaco, France: a 60 m² apartment costs 17.6 years of the average net salary in the cities we track. The United Kingdom (16.0 years) and Portugal (15.8 years) follow.
Are house prices in Europe still rising?
Yes, on average. The EU house price index rose 4.7% in the year to Q2 2026. Growth is strongest in Portugal, Bulgaria and Lithuania, while prices in Finland and France fell slightly.
Methodology. Country figures are averages of the cities SQMData tracks in each country (listed in the table), not national averages: they mostly reflect capitals and major cities, where prices are highest. Prices and salaries are 2026 averages from the SQMData dataset; salaries are average net monthly pay. Price changes come from Eurostat's quarterly house price index (prc_hpi_q, all dwellings), comparing Q2 2026 with the same quarter of the previous year. Compare any two cities side by side with our city comparison tool, or see how much space your budget buys with Where can I afford?.