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Read more…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
UK Communications Manager
T: +44 20 8191 8806
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