Average property price by country around the world

What is the cost of a city centre flat in countries around the world?

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By

Emily Herring

&

Sophie Barber

Updated

Fact checked

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 99 countries to find out.

The global average cost of a 2-bedroom flat is £176,000, up 5% from a global average of £167,000 in 2022. The UK was the 19th most expensive place to buy a property, with an average price for a 2-bedroom flat at £263,000. This is 49% higher than the global average across all countries.

The 5 most expensive countries

1. Hong Kong: £1,440,000
2. Singapore: £986,000
3. Switzerland: £772,000
4. South Korea £601,000
5. Luxembourg: £547,000

The 5 cheapest countries

1. Egypt: £24,000
2. Pakistan: £25,000
3. Venezuela: £27,000
4. Bangladesh: £39,000
5. Tunisia: £40,000

Hong Kong was found to be the most expensive country to buy property, with a 2-bed flat costing an eye-watering £1.4 million – 7 times the global average. Hong Kong was the only country where a city centre flat would cost you more than £1 million on average.

On the other end of the spectrum, the cheapest place to buy a property was Egypt, where a 2-bedroom flat of the same size would cost you just £24,000. This is 86% less than the global average, and for comparison, you could buy 60 flats in Egypt for the price of just 1 flat in Hong Kong!

Egypt has held onto its position as the cheapest place to buy a property since 2022, when it would have cost slightly more at £30,000.

Wherever you decide to live, you’ll need some help choosing the best mortgage for you.

What is the most expensive city in the world to buy a property?

Hong Kong is also the most expensive city in the world to buy a property, with an average price of £1.4 million. This is followed by Zurich, Switzerland, with an average price of £1.2 million, and Seoul, in South Korea, with an average price of just over £1 million.

London was the 7th most expensive city in the world to buy a flat, with an average cost of £799,000. However, this figure is down slightly from the average price for a London flat in 2022, which was £814,000.

Number City Average cost of flat in city Compared to global average
1 Hong Kong, Hong Kong £1,440,000 718%
2 Zurich, Switzerland £1,197,000 580%
3 Seoul, South Korea £1,007,000 472%
4 Singapore, Singapore £986,000 460%
5 Geneva, Switzerland £945,000 437%
6 Shanghai, China £835,000 374%
7 London, United Kingdom £799,000 354%
8 New York, NY, United States £792,000 350%
9 Tel Aviv-Yafo, Israel £766,000 335%
10 Beijing, China £760,000 332%

What is the average cost of a property in Europe?

The average cost of a 2-bed flat in Europe is £193,000. This is up 7% from £181,000 in 2022 and is 16% more than the global average of £167,000.

However, the cost of property varies significantly between European countries, with a flat in Switzerland, the most expensive country at £772,000, costing over 11 times more than the cheapest country, which is Turkey at £66,000.

The UK is the 9th most expensive country in Europe to buy a 2-bedroom flat, and you’d be spending £70,000 more than the European average.

The 5 most expensive countries

1. Switzerland: £772,000
2. Luxembourg: £547,000
3. Germany: £328,000
4. Austria: £314,000
5. Norway: £305,000

The 5 cheapest countries

1. Turkey: £66,000
2. North Macedonia: £69,000
3. Ukraine: £70,000
4. Bulgaria: £81,000
5. Kosovo: £82,000

What is the most expensive city in Europe to buy property?

Zurich is the most expensive city in Europe to buy property, with the average 2-bed flat costing a hefty £1.2 million. Geneva comes in as the second most expensive European city to buy property, with an average cost of £945,000.

Property prices in both Zurich and Geneva have shot up in the past year, with Zurich prices 51% higher than in 2022, when a flat would have cost £792,000 on average, and Geneva prices 40% higher, with an average cost of £675,000 in 2022.

London is the third most expensive European city, with the average cost of a flat at £799,000. This is 354% more than the global average cost to buy a city centre flat.

The cheapest city in Europe for a flat is Bitola in North Macedonia, with an average cost of just £47,000, which is 25 times cheaper than a flat in Zurich. This is followed by Dnipro in Ukraine, with an average cost of £55,000 and Rostov-on-Don in Russia, with an average cost of £59,000 – perhaps not surprising given the 2 countries are currently at war.

The 5 most expensive cities

1. Zurich, Switzerland: £1,197,000
2. Geneva, Switzerland: £945,000
3. London, United Kingdom: £799,000
4. Paris, France: £630,000
5. Munich, Germany: £613,000

The 5 cheapest cities

1. Bitola, North Macedonia: £47,000
2. Dnipro, Ukraine: £55,000
3. Rostov-on-Don, Russia: £59,000
4. Odessa, Ukraine: £61,000
5. Chisinau, Moldova: £66,000

Explore the table below to find out the cost of a flat around Europe and the world.

The cost of property around the world: Full list

Country Price per square meter in city centre Cost of a flat Compared to global average
Hong Kong £24,364.03 £1,440,000 718%
Singapore £16,681.85 £986,000 460%
Switzerland £13,067.67 £772,000 339%
South Korea £10,159.31 £601,000 241%
Luxembourg £9,246.51 £547,000 211%
China £6,598.22 £390,000 122%
Taiwan £6,538.03 £386,000 119%
Israel £6,529.67 £386,000 119%
Australia £6,090.15 £360,000 105%
Germany £5,557.05 £328,000 86%
Canada £5,523.28 £326,000 85%
Austria £5,313.89 £314,000 78%
New Zealand £5,188.83 £307,000 74%
Norway £5,155.44 £305,000 73%
France £4,990.67 £295,000 68%
Kuwait £4,750.73 £281,000 60%
Finland £4,578.61 £271,000 54%
Sweden £4,511.22 £267,000 52%
United Kingdom £4,455.54 £263,000 49%
Denmark £4,400.32 £260,000 48%
Netherlands £4,351.00 £257,000 46%
Japan £4,244.73 £251,000 43%
Ireland £4,151.06 £245,000 39%
Czech Republic £4,107.25 £243,000 38%
Qatar £3,928.29 £232,000 32%
United States £3,831.01 £226,000 28%
Slovenia £3,067.62 £181,000 3%
Italy £3,015.69 £178,000 1%
Belgium £3,012.09 £178,000 1%
Lithuania £2,989.09 £177,000 1%
Estonia £2,956.70 £175,000 -1%
Malta £2,953.79 £175,000 -1%
Thailand £2,934.16 £173,000 -2%
Croatia £2,774.62 £164,000 -7%
Spain £2,702.14 £160,000 -9%
Poland £2,608.93 £154,000 -13%
Hungary £2,509.88 £148,000 -16%
Portugal £2,501.54 £148,000 -16%
Slovakia £2,405.85 £142,000 -19%
United Arab Emirates £2,349.60 £139,000 -21%
Vietnam £2,299.32 £136,000 -23%
Armenia £2,187.47 £129,000 -27%
Serbia £2,155.12 £127,000 -28%
Uruguay £2,144.44 £127,000 -28%
Cyprus £2,092.99 £124,000 -30%
Philippines £2,065.91 £122,000 -31%
Greece £1,890.86 £112,000 -36%
Panama £1,827.79 £108,000 -39%
Latvia £1,814.92 £107,000 -39%
Jamaica £1,782.79 £105,000 -40%
Chile £1,741.62 £103,000 -41%
Montenegro £1,733.80 £102,000 -42%
Argentina £1,698.84 £100,000 -43%
Puerto Rico £1,639.65 £97,000 -45%
Romania £1,589.61 £94,000 -47%
Costa Rica £1,571.68 £93,000 -47%
Nepal £1,528.13 £90,000 -49%
Albania £1,500.24 £89,000 -49%
Malaysia £1,458.36 £86,000 -51%
Bosnia And Herzegovina £1,455.03 £86,000 -51%
Russia £1,429.71 £85,000 -52%
Belarus £1,419.23 £84,000 -52%
Kosovo (Disputed Territory) £1,379.23 £82,000 -53%
Brazil £1,377.20 £81,000 -54%
Bulgaria £1,368.02 £81,000 -54%
Peru £1,320.60 £78,000 -56%
Georgia £1,316.24 £78,000 -56%
Indonesia £1,316.15 £78,000 -56%
India £1,306.32 £77,000 -56%
Oman £1,251.94 £74,000 -58%
Mexico £1,241.70 £73,000 -59%
Guatemala £1,231.05 £73,000 -59%
Saudi Arabia £1,195.80 £71,000 -60%
Ukraine £1,190.09 £70,000 -60%
North Macedonia £1,167.42 £69,000 -61%
Dominican Republic £1,164.84 £69,000 -61%
Azerbaijan £1,162.54 £69,000 -61%
Morocco £1,161.56 £69,000 -61%
Iran £1,159.77 £69,000 -61%
Colombia £1,147.98 £68,000 -61%
Sri Lanka £1,142.35 £68,000 -61%
Kazakhstan £1,121.86 £66,000 -63%
Turkey £1,108.34 £66,000 -63%
Mauritius £1,043.69 £62,000 -65%
Syria £1,014.26 £60,000 -66%
Ecuador £976.45 £58,000 -67%
Bolivia £919.91 £54,000 -69%
Iraq £910.25 £54,000 -69%
Uzbekistan £908.71 £54,000 -69%
Jordan £905.83 £54,000 -69%
Algeria £867.67 £51,000 -71%
Kenya £856.98 £51,000 -71%
Palestine £755.29 £45,000 -74%
South Africa £700.02 £41,000 -77%
Tunisia £683.71 £40,000 -77%
Bangladesh £652.53 £39,000 -78%
Venezuela £461.54 £27,000 -85%
Pakistan £428.79 £25,000 -86%
Egypt £402.09 £24,000 -86%

Methodology and 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

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