Cities with the highest rent increases in Europe

Rising construction costs across the European Union are causing the pace of new home construction to slow, rental prices to rise and the number of potential buyers considering purchasing a home to decline. The fact that many potential buyers are unable to own a home creates additional pressure on the rental market.

According to a study carried out in Europe, the city where rental housing will be most expensive in 2023 is Dublin, the capital of Ireland. In Dublin, the most expensive city in terms of housing rentals, monthly rents reached 32.8 euros per square meter.

According to an annual study published in August by the London-based international company Deloitte, Dublin was followed by Paris with 28.5 euros and Oslo with 28 euros.

IT EXCEEDED 20 EUROS IN 12 CITIES

Monthly rents exceeded 20 euros per square meter in a total of 12 European cities, including Dublin, Paris and Oslo.

These cities are London with 26.6 euros, Amsterdam with 25.8 euros, Barcelona with 25.7 euros, Trondheim with 22.5 euros, Galway City with 22.4 euros, Madrid with 21.5 euros and 21.3 euros , Copenhagen with 20.7 euros, Bergen with 20.7 euros and Cork City with 20.2 euros.

BULGARIA BECOMES THE CHEAPEST CITY

Bulgaria, on the other hand, draws attention to the lower prices of rental housing compared to the high prices in Europe.

In Burgas, Bulgaria, which has the lowest average housing rental prices, the average monthly rent was 3.1 euros per square meter, while in Sofia it was 4.6 euros and in Varna it was about 4.7 euros.

Other cities with the lowest rents were Patra with 5.5 euros, Thessaloniki with 6.6 euros, Kranj and Torino with 6.9 euros and Györ with 7.1 euros.

THE COUNTRY WHICH RAISED PRICES THE MOST WAS SLOVENIA

Although Dublin is the most expensive city in Europe, when looking at rent growth rates, the country where prices increased the most was Slovenia.

While rents in Maribor, Slovenia, increased by 66.5 percent annually, this rate was 40.8 percent in Kranj and 37.7 percent in Ljubljana, the capital of Slovenia.

On the other hand, the increases in Poland also attracted attention. According to the study, rents in Lodz increased by 32.4 percent, followed by Warsaw with an increase of 30.6 percent and Gdansk with an increase of 27.8 percent.