The cost of a city centre two-bed flat around the world

70%Country

18 Sept 2018

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 two-bed flat in 91 countries to find out. Of these, the UK was the 16th most expensive, at £227,000. The average across all countries was £149,000, which makes the UK’s figure 52% 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 two-bed flat costing an eye-watering £1.3 million – almost nine times the global average.

On the other end of the spectrum, the cheapest place for property appears to be Egypt, where a flat of the same size would cost you a modest £27,000, 82% below average.

If you’re looking to get on the property ladder in the UK, check out this page for advice and tips on all the help that is available to you.

See the map or the table below for the rest of our findings.

The full list of countries

Country Average price per square metre for city centre flat Price for two-bed flat
Hong Kong £21,727 £1,280,000
Singapore £13,220 £781,000
Switzerland £9,182 £543,000
South Korea £7,402 £438,000
Japan £6,165 £364,000
Taiwan £6,089 £360,000
Israel £5,365 £317,000
Norway £5,073 £300,000
China £5,038 £298,000
Sweden £4,973 £294,000
France £4,903 £290,000
Australia £4,158 £246,000
Germany £4,010 £237,000
Austria £3,954 £234,000
Denmark £3,924 £232,000
United Kingdom £3,839 £227,000
Iceland £3,784 £224,000
Finland £3,681 £218,000
Netherlands £3,604 £213,000
Ireland £3,593 £212,000
Qatar £3,520 £208,000
New Zealand £3,336 £197,000
Lebanon £3,277 £194,000
Italy £3,224 £191,000
Canada £3,200 £189,000
Czech Republic £2,826 £167,000
Thailand £2,787 £165,000
Belgium £2,657 £157,000
Spain £2,576 £152,000
Malta £2,510 £148,000
Portugal £2,233 £132,000
United Arab Emirates £2,188 £129,000
Slovenia £1,969 £116,000
Estonia £1,966 £116,000
United States £1,884 £111,000
Uruguay £1,836 £109,000
Lithuania £1,815 £107,000
Chile £1,792 £106,000
Hungary £1,791 £106,000
Croatia £1,718 £102,000
Panama £1,715 £101,000
Poland £1,663 £98,000
Malaysia £1,652 £98,000
Slovakia £1,633 £97,000
Vietnam £1,575 £93,000
Cyprus £1,511 £89,000
Serbia £1,509 £89,000
Argentina £1,470 £87,000
Brazil £1,443 £85,000
Peru £1,431 £85,000
Montenegro £1,408 £83,000
Sri Lanka £1,376 £81,000
Latvia £1,354 £80,000
Puerto Rico £1,324 £78,000
Greece £1,292 £76,000
Iran £1,261 £75,000
Algeria £1,232 £73,000
Costa Rica £1,212 £72,000
Morocco £1,194 £71,000
Romania £1,191 £70,000
Ecuador £1,149 £68,000
India £1,148 £68,000
Nepal £1,145 £68,000
Russia £1,142 £68,000
Philippines £1,122 £66,000
Albania £1,108 £66,000
Colombia £1,095 £65,000
Kosovo (Disputed Territory) £1,082 £64,000
Belarus £1,076 £64,000
Bosnia And Herzegovina £1,060 £63,000
Iraq £979 £58,000
Bulgaria £973 £58,000
Azerbaijan £959 £57,000
Indonesia £919 £54,000
Jordan £917 £54,000
Mexico £914 £54,000
Macedonia £857 £51,000
Saudi Arabia £839 £50,000
Dominican Republic £836 £49,000
Bangladesh £831 £49,000
Ukraine £806 £48,000
Venezuela £799 £47,000
Palestinian Territory £788 £47,000
Kazakhstan £785 £46,000
Turkey £780 £46,000
South Africa £774 £46,000
Georgia £753 £45,000
Moldova £739 £44,000
Pakistan £647 £38,000
Tunisia £619 £37,000
Egypt £451 £27,000

The top 10 most expensive cities for a flat

City Average price for city-centre two-bed flat Compared to global average
Hong Kong, Hong Kong £1,280,000 866%
London, United Kingdom £788,000 529%
Singapore, Singapore £781,000 513%
Beijing, China £676,000 454%
Zurich, Switzerland £670,000 450%
Shanghai, China £667,000 448%
New York, NY, United States £623,000 418%
Seoul, South Korea £619,000 415%
Geneva, Switzerland £611,000 410%
Shenzhen, China £586,000 393%

See the stats for these 5 UK cities

City Average price for city-centre two-bed flat Compared to global average Compared to UK average
London £788,000 529% 347%
Cambridge £360,000 242% 159%
Liverpool £294,000 197% 130%
Edinburgh £226,000 152% 100%
Manchester £144,000 97% 63%

“These statistics show that prices for a city centre flat in the UK are generally comparable to our European and global counterparts. London is very much the exception to this rule though, with a central flat being out of reach for almost all young Brits trying to get a foot on the property ladder.”

“If you’re a first-time buyer looking to purchase a flat or house, there are various ways that you can get assistance. Help to buy schemes allow you to earn tax-free interest, and the government also adds 25% to your savings (up to £3,000), which is a no-brainer if you’re serious about purchasing. People are increasingly looking at shared-ownership as well. This allows you to purchase part of a flat from a housing association and will result in a lower deposit and monthly payments. You can then purchase more of the flat as and when you’re able to. You can see more helpful information on this dedicated page.”

– Jon Ostler, UK CEO at finder.com

Methodology

The price per square metre for a city-centre flat in each country was taken from cost-of-living site Numbeo on 23 August 2018. Countries that didn’t show up in their table weren’t included in this analysis.

The median area of a two-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 two-bed flat in each country.

For all media enquiries, please contact

Matt Mckenna
UK Communications Manager
M: +44 747 921 7816
T: +44 20 3828 1338
matt.mckenna@finder.com@MichHutchison/in/matthewmckenna2

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