Cost of a city centre flat around the world

How do property prices in the UK compare to the rest of the world?

How do property prices in the UK compare to those of the rest of the world? We estimated the average cost of a city-centre 2-bed flat in 106 countries to find out. Of these, the UK was the 20th most expensive, at £238,000. The average across all countries was £167,000, which makes the UK’s figure 43% higher than the global average.

The most expensive place to buy a flat is Hong Kong (too small to be seen on the map), with a 2-bed flat costing an eye-watering £1.57 million – 8 times the global average. This is up from £1.4 million in 2020.

The 5 most expensive countries

1. Hong Kong: £1,566,000
2. Singapore: £987,000
3. South Korea: £703,000
4. Luxembourg £584,000
5. Switzerland: £574,000

The 5 cheapest countries

1. Egypt: £30,000
2. Pakistan: £32,000
3. Tunisia: £36,000
4. Nigeria: £36,000
5. Venezuela: £37,000

On the other end of the spectrum, the cheapest place for property now appears to be Egypt, where a flat of the same size would cost you a modest £30,000, which is 82% less than the global average. In 2020, Pakistan was the cheapest country for a 2-bed flat, where property prices have increased by 10%.

Wherever you decide to live, you’ll need some help along the way. Find out how to get a mortgage for an overseas property. You will also need to find a trusted provider to transfer your money overseas. If you’re aiming to get on the property ladder in the UK, check out our guide for first-time buyers for advice and tips on all the help that is available to you.

How do prices compare across Europe?

The average cost of a flat in Europe is £181,000. This is up from £154,000 in 2020 and is 8% more than the global average of £167,000. However, the cost of a flat varies significantly between European countries, with the most expensive country (Luxembourg, £584,000) costing over £537,000 more than the cheapest country (Turkey, £47,000). The UK is the ninth most expensive country in Europe to buy a 2-bedroom flat at £57,000 more than the European average (£181,000).

European cities compared

London is the most expensive European city with the average cost of a flat being £814,000. This is over 387% more than the global average. Zurich, the financial city of Switzerland is second with the average flat costing (£792,000) followed by Geneva, also in Switzerland, costing £675,000. While Luxembourg is the most expensive country in Europe, it is the fourth most expensive city with the average flat price being £647,000. Munich in Germany is the fifth most expensive, costing £624,000.

The cheapest city in Europe for a flat is Chisinau in Moldova (£52,000) followed by Plovdiv in Bulgaria (£57,000).

Explore the map and the table below to find out more about the cost of a flat around Europe.

Country Cost of a two bed flat Compared to global average
Luxembourg £584,000 250%
Switzerland £574,000 244%
Germany £344,000 106%
France £342,000 105%
Sweden £295,000 77%
Norway £280,000 68%
Netherlands £269,000 61%
Austria £258,000 54%
United Kingdom £238,000 43%
Iceland £236,000 41%
Denmark £234,000 40%
Finland £231,000 38%
Czech Republic £224,000 34%
Ireland £203,000 22%
Italy £189,000 13%
Malta £175,000 5%
Belgium £172,000 3%
Russia £153,000 -8%
Spain £151,000 -10%
Poland £151,000 -10%
Slovenia £151,000 -10%
Lithuania £150,000 -10%
Portugal £148,000 -11%
Estonia £136,000 -19%
Croatia £133,000 -20%
Hungary £127,000 -24%
Slovakia £119,000 -29%
Greece £97,000 -42%
Serbia £92,000 -45%
Romania £91,000 -46%
Montenegro £85,000 -49%
Latvia £80,000 -52%
Bulgaria £79,000 -53%
Albania £79,000 -53%
Belarus £76,000 -54%
Ukraine £66,000 -60%
Bosnia And Herzegovina £65,000 -61%
Kosovo (Disputed Territory) £57,000 -66%
North Macedonia £54,000 -68%
Moldova £48,000 -71%

The full list of countries

Country Price per square meter in city centre Cost of a flat Compared to global average
Hong Kong £26,487.54 £1,566,000 838%
Singapore £16,700.02 £987,000 491%
South Korea £11,887.00 £703,000 321%
Luxembourg £9,878.93 £584,000 250%
Switzerland £9,710.24 £574,000 244%
China £8,578.76 £507,000 204%
Israel £5,896.84 £349,000 109%
Germany £5,822.13 £344,000 106%
France £5,781.57 £342,000 105%
Canada £5,665.02 £335,000 101%
Taiwan £5,406.74 £320,000 92%
Qatar £5,351.28 £316,000 89%
Japan £5,350.07 £316,000 89%
Sweden £4,990.13 £295,000 77%
Norway £4,729.52 £280,000 68%
Netherlands £4,544.28 £269,000 61%
Kuwait £4,406.76 £260,000 56%
Austria £4,369.35 £258,000 54%
Australia £4,329.46 £256,000 53%
United Kingdom £4,018.75 £238,000 43%
New Zealand £4,013.27 £237,000 42%
Iceland £3,998.21 £236,000 41%
Denmark £3,961.81 £234,000 40%
Finland £3,905.20 £231,000 38%
Czech Republic £3,789.23 £224,000 34%
United States £3,707.20 £219,000 31%
Ireland £3,428.02 £203,000 22%
Jamaica £3,334.69 £197,000 18%
Italy £3,190.26 £189,000 13%
Kenya £2,983.83 £176,000 5%
Malta £2,968.64 £175,000 5%
Belgium £2,905.42 £172,000 3%
Russia £2,594.66 £153,000 -8%
Lebanon £2,594.57 £153,000 -8%
Spain £2,558.04 £151,000 -10%
Poland £2,554.95 £151,000 -10%
Slovenia £2,551.49 £151,000 -10%
Lithuania £2,540.80 £150,000 -10%
Portugal £2,498.67 £148,000 -11%
Thailand £2,385.57 £141,000 -16%
Uruguay £2,375.13 £140,000 -16%
United Arab Emirates £2,357.96 £139,000 -17%
Estonia £2,300.71 £136,000 -19%
Croatia £2,242.53 £133,000 -20%
Hungary £2,146.62 £127,000 -24%
Vietnam £2,120.71 £125,000 -25%
Slovakia £2,017.51 £119,000 -29%
Iran £1,932.92 £114,000 -32%
Philippines £1,848.22 £109,000 -35%
Argentina £1,712.41 £101,000 -40%
Bahrain £1,676.33 £99,000 -41%
Chile £1,657.87 £98,000 -41%
Cyprus £1,644.32 £97,000 -42%
Greece £1,641.20 £97,000 -42%
Panama £1,601.33 £95,000 -43%
Armenia £1,596.83 £94,000 -44%
Serbia £1,552.50 £92,000 -45%
Romania £1,543.75 £91,000 -46%
Malaysia £1,516.74 £90,000 -46%
Oman £1,450.86 £86,000 -49%
Montenegro £1,438.83 £85,000 -49%
Costa Rica £1,433.37 £85,000 -49%
Brazil £1,407.41 £83,000 -50%
Puerto Rico £1,398.33 £83,000 -50%
Peru £1,388.48 £82,000 -51%
Latvia £1,359.85 £80,000 -52%
Bulgaria £1,341.65 £79,000 -53%
Albania £1,334.21 £79,000 -53%
Belarus £1,282.02 £76,000 -54%
Indonesia £1,276.17 £75,000 -55%
Trinidad And Tobago £1,275.31 £75,000 -55%
Nepal £1,266.35 £75,000 -55%
Sri Lanka £1,252.29 £74,000 -56%
India £1,241.06 £73,000 -56%
Guatemala £1,231.72 £73,000 -56%
Ukraine £1,120.31 £66,000 -60%
Morocco £1,108.60 £66,000 -60%
Dominican Republic £1,093.06 £65,000 -61%
Bosnia And Herzegovina £1,091.67 £65,000 -61%
El Salvador £1,085.40 £64,000 -62%
Ecuador £1,059.67 £63,000 -62%
Azerbaijan £1,041.20 £62,000 -63%
Iraq £1,023.00 £60,000 -64%
Ghana £1,003.98 £59,000 -65%
Mauritius £976.99 £58,000 -65%
Kosovo (Disputed Territory) £968.00 £57,000 -66%
Saudi Arabia £953.34 £56,000 -66%
Bolivia £949.42 £56,000 -66%
Uzbekistan £944.01 £56,000 -66%
Mexico £918.97 £54,000 -68%
North Macedonia £908.14 £54,000 -68%
Jordan £881.32 £52,000 -69%
Colombia £873.39 £52,000 -69%
Moldova £804.81 £48,000 -71%
Turkey £795.29 £47,000 -72%
Palestine £772.41 £46,000 -72%
South Africa £767.44 £45,000 -73%
Algeria £740.33 £44,000 -74%
Kazakhstan £726.12 £43,000 -74%
Bangladesh £708.46 £42,000 -75%
Honduras £693.77 £41,000 -75%
Venezuela £630.02 £37,000 -78%
Nigeria £613.87 £36,000 -78%
Tunisia £607.43 £36,000 -78%
Pakistan £538.26 £32,000 -81%
Egypt £508.09 £30,000 -82%
- - - -

The top 10 most expensive cities for a flat

Country Price per square meter in city centre Cost of a two bed flat Compared to global average
London, United Kingdom £13,772.23 £814,000 387%
Zurich, Switzerland £13,403.72 £792,000 374%
Geneva, Switzerland £11,420.95 £675,000 304%
Luxembourg, Luxembourg £10,938.81 £647,000 287%
Munich, Germany £10,564.53 £624,000 274%
Paris, France £10,439.13 £617,000 269%
Stockholm, Sweden £9,258.90 £547,000 228%
Basel, Switzerland £8,821.35 £521,000 212%
Amsterdam, Netherlands £7,844.28 £464,000 178%
Helsinki, Finland £7,775.87 £460,000 175%

See the stats for these 10 UK cities

City Price per square meter Average cost of flat in city Compared to global average
London £13,772.23 £814,000 387%
Birmingham £6,204.03 £367,000 120%
Cambridge £5,801.67 £343,000 105%
Brighton £5,500.00 £325,000 95%
Bristol £5,000.00 £296,000 77%
Liverpool £4,750.00 £281,000 68%
Glasgow £4,602.09 £272,000 63%
Edinburgh £4,054.67 £240,000 44%
Manchester £3,967.79 £235,000 41%
York £3,000.00 £177,000 6%

Sources

Numbeo
The median area of a 2-bed flat in the UK, according to a 2010 dwelling size survey, is 59.11 square metres. Therefore, each price per square metre was multiplied by 59.11 to get the cost of a 2-bed flat in each country.

Click here for more research. For all media enquiries, please contact:

Matt Mckenna
UK Communications Manager
T: +44 20 8191 8806
matt.mckenna@finder.com@MichHutchison/in/matthewmckenna2

Related articles

Finder Lending Innovation Awards 2022

Finder Lending Innovation Awards 2022

These awards recognise innovation in the areas of credit cards, loans, mortgages and BNPL. We reveal this year’s winners.

Read more…
Stamp duty rate change comes into effect in England and Northern Ireland

Stamp duty rate change comes into effect in England and Northern Ireland

Tax-free threshold drops from £500,000 to £250,000 for properties purchased after the stamp duty change on 1 July.

Read more…
Winners announced at the Finder Lending Innovation Awards 2021

Winners announced at the Finder Lending Innovation Awards 2021

These inaugural awards recognise the lending providers displaying the best innovations in their field.

Read more…
Lending Innovation Awards 2021

Lending Innovation Awards 2021

These awards recognise innovation in the areas of credit cards, loans, mortgages and BNPL. We reveal this year’s winners.

Read more…
Agricultural mortgage

Agricultural mortgage

What you need to know about getting a mortgage if you’re buying or refinancing a farm or farmland, including the factors lenders consider when you apply for one.

Read more…
Mortgage for a pub

Mortgage for a pub

Everything you need to know about taking out a mortgage to buy or refinance a pub. Find out where to get one, how to get the best deal and the factors lenders consider.

Read more…

More guides on Finder

  • Finder Lending Innovation Awards 2022

    These awards recognise innovation in the areas of credit cards, loans, mortgages and BNPL. We reveal this year’s winners.

  • Lending Innovation Awards 2021

    These awards recognise innovation in the areas of credit cards, loans, mortgages and BNPL. We reveal this year’s winners.

  • Agricultural mortgage

    What you need to know about getting a mortgage if you’re buying or refinancing a farm or farmland, including the factors lenders consider when you apply for one.

  • Mortgage for a pub

    Everything you need to know about taking out a mortgage to buy or refinance a pub. Find out where to get one, how to get the best deal and the factors lenders consider.

  • Mortgage for a hotel

    In-depth guide to taking out a commercial mortgage to buy or refinance a hotel. Find out how to get the best rates, factors lenders consider and what you need to apply.

  • Bridging loan vs commercial mortgage

    Find out if a bridging loan or commercial mortgage would suit you if you’re buying or refinancing commercial property and when a bridging loan can be a better option.

  • How much deposit do I need for a commercial mortgage?

    Find out how much deposit you need if you’re taking out a commercial mortgage, including the factors lenders take into account, and how to get the best deal for you.

  • Getting a 5% deposit mortgage under the government’s new guarantee scheme

    Learn more about the new government scheme that allows first-time buyers and home movers to get on the property ladder.

  • Chain break finance

    Learn everything you need to know about chain break finance – a type of bridging loan that stops you losing your dream home if the sale of your existing one falls through.

  • Fix and flip

    Read our in-depth guide to fix and flip and how this type of property investment works, including the factors you need to consider, the risks to be aware of and how to finance it.

Ask an Expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder.com provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy and Cookies Policy and Terms of Use.

Questions and responses on finder.com are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.
Go to site