How do property prices in the UK compare to the rest of the world? We estimated the average cost of a city-centre 2-bed flat in 100 countries to find out.
The global average cost of a 2-bedroom flat is £173,000. The UK is the 16th most expensive country to buy a property, with an average price for a 2-bedroom flat at £256,000. This is 48% higher than the global average across all countries analysed.
1. Singapore: £1,038,000
2. Switzerland: £834,000
3. South Korea: £647,000
4. Luxembourg: £501,000
5. Israel: £455,000
1. Cuba: £16,000
2. Egypt: £32,000
3. Venezuela: £33,000
4. Zimbabwe: £37,000
5. Pakistan: £40,000
| Number | Country | Average price of a flat | Compared to global average |
|---|---|---|---|
| 1 | Singapore | £1,038,000 | 500% |
| 2 | Switzerland | £834,000 | 382% |
| 3 | South Korea | £647,000 | 274% |
| 4 | Luxembourg | £501,000 | 190% |
| 5 | Israel | £455,000 | 163% |
| 6 | Taiwan | £447,000 | 158% |
| 7 | Australia | £328,000 | 90% |
| 8 | Norway | £325,000 | 88% |
| 9 | Austria | £318,000 | 84% |
| 10 | Netherlands | £308,000 | 78% |
| 11 | Denmark | £280,000 | 62% |
| 12 | Germany | £279,000 | 61% |
| 13 | Japan | £275,000 | 59% |
| 14 | Sweden | £274,000 | 58% |
| 15 | United Arab Emirates | £258,000 | 49% |
| 16 | United Kingdom | £256,000 | 48% |
| 17 | France | £255,000 | 47% |
| 18 | New Zealand | £246,000 | 42% |
| 19 | Finland | £242,000 | 40% |
| 20 | Czech Republic | £239,000 | 38% |
| 21 | Kuwait | £233,000 | 35% |
| 22 | Ireland | £233,000 | 35% |
| 23 | China | £226,000 | 31% |
| 24 | Puerto Rico | £226,000 | 31% |
| 25 | Slovenia | £220,000 | 27% |
| 26 | Canada | £214,000 | 24% |
| 27 | Qatar | £207,000 | 20% |
| 28 | Croatia | £203,000 | 17% |
| 29 | Malta | £198,000 | 14% |
| 30 | Belgium | £196,000 | 13% |
| 31 | Spain | £195,000 | 13% |
| 32 | Mauritius | £195,000 | 13% |
| 33 | Estonia | £184,000 | 6% |
| 34 | Portugal | £179,000 | 3% |
| 35 | Slovakia | £173,000 | 0% |
| 36 | Cyprus | £171,000 | -1% |
| 37 | Poland | £171,000 | -1% |
| 38 | Italy | £171,000 | -1% |
| 39 | Thailand | £170,000 | -2% |
| 40 | Lithuania | £170,000 | -2% |
| 41 | Hungary | £169,000 | -2% |
| 42 | Vietnam | £158,000 | -9% |
| 43 | Sri Lanka | £155,000 | -10% |
| 44 | United States | £150,000 | -13% |
| 45 | Uruguay | £148,000 | -14% |
| 46 | Serbia | £140,000 | -19% |
| 47 | Greece | £140,000 | -19% |
| 48 | Montenegro | £137,000 | -21% |
| 49 | Armenia | £136,000 | -21% |
| 50 | Panama | £134,000 | -23% |
| 51 | Philippines | £132,000 | -24% |
| 52 | Albania | £124,000 | -28% |
| 53 | Latvia | £124,000 | -28% |
| 54 | Mexico | £122,000 | -29% |
| 55 | Nigeria | £118,000 | -32% |
| 56 | Romania | £114,000 | -34% |
| 57 | Lebanon | £113,000 | -35% |
| 58 | Bahrain | £113,000 | -35% |
| 59 | Russia | £113,000 | -35% |
| 60 | Moldova | £112,000 | -35% |
| 61 | Bosnia And Herzegovina | £109,000 | -37% |
| 62 | Chile | £103,000 | -40% |
| 63 | Bulgaria | £102,000 | -41% |
| 64 | Costa Rica | £102,000 | -41% |
| 65 | Saudi Arabia | £102,000 | -41% |
| 66 | Oman | £99,000 | -43% |
| 67 | Argentina | £98,000 | -43% |
| 68 | Nepal | £96,000 | -45% |
| 69 | Malaysia | £96,000 | -45% |
| 70 | Dominican Republic | £96,000 | -45% |
| 71 | Kosovo (Disputed Territory) | £95,000 | -45% |
| 72 | Peru | £94,000 | -46% |
| 73 | Azerbaijan | £93,000 | -46% |
| 74 | North Macedonia | £89,000 | -49% |
| 75 | Brazil | £85,000 | -51% |
| 76 | Colombia | £83,000 | -52% |
| 77 | Uzbekistan | £80,000 | -54% |
| 78 | Indonesia | £78,000 | -55% |
| 79 | Turkey | £78,000 | -55% |
| 80 | Belarus | £76,000 | -56% |
| 81 | Morocco | £71,000 | -59% |
| 82 | Georgia | £71,000 | -59% |
| 83 | Iraq | £68,000 | -61% |
| 84 | Ecuador | £68,000 | -61% |
| 85 | Ukraine | £64,000 | -63% |
| 86 | Kenya | £62,000 | -64% |
| 87 | Kazakhstan | £59,000 | -66% |
| 88 | Jordan | £57,000 | -67% |
| 89 | India | £56,000 | -68% |
| 90 | Bolivia | £56,000 | -68% |
| 91 | South Africa | £50,000 | -71% |
| 92 | Algeria | £50,000 | -71% |
| 93 | Tunisia | £47,000 | -73% |
| 94 | Iran | £45,000 | -74% |
| 95 | Bangladesh | £40,000 | -77% |
| 96 | Pakistan | £40,000 | -77% |
| 97 | Zimbabwe | £37,000 | -79% |
| 98 | Venezuela | £33,000 | -81% |
| 99 | Egypt | £32,000 | -82% |
| 100 | Cuba | £16,000 | -91% |
Singapore is the most expensive country to buy property, with a 2-bed flat costing more than an eye-watering £1 million – 6 times the global average. Singapore 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 Cuba, where a 2-bedroom flat of the same size would cost you just £16,000. This is 91% less than the global average, and for comparison, you could buy almost 65 flats in Cuba for the price of just 1 flat in Singapore!
Hong Kong is the most expensive city in the world to buy a property, with an average price of £1.12 million. This is followed by Zurich, Switzerland, with an average price of almost £1.1 million, and Singapore appears again as a city, with an average price of just over £1 million.
London was the 9th most expensive city in the world to buy a flat, with an average cost of £850,000.
| Number | City | Average price of a flat |
|---|---|---|
| 1 | Hong Kong, Hong Kong | £1,115,000 |
| 2 | Zurich, Switzerland | £1,095,000 |
| 3 | Singapore, Singapore | £1,038,000 |
| 4 | Geneva, Switzerland | £1,006,000 |
| 5 | Tel Aviv-Yafo, Israel | £972,000 |
| 6 | Lucerne, Switzerland | £895,000 |
| 7 | New York, United States | £869,000 |
| 8 | Lausanne, Switzerland | £863,000 |
| 9 | London, United Kingdom | £850,000 |
| 10 | Seoul, South Korea | £804,000 |
The average cost of a 2-bed flat in Europe is £201,000. This is 15% more than the global average of £173,000.
However, the cost of property varies significantly between European countries, with a city centre flat in Switzerland, the most expensive country at £834,000, costing 13 times more than the cheapest country, which is Ukraine at £64,000.
The UK is the 9th most expensive country in Europe to buy a 2-bedroom flat at £256,000, and you’d be spending £55,000 more than the European average.
1. Switzerland: £834,000
2. Luxembourg: £501,000
3. Norway: £325,000
4. Austria: £318,000
5. Netherlands: £308,000
1. Ukraine: £64,000
2. Georgia: £71,000
3. Belarus: £76,000
4. Turkey: £78,000
5. North Macedonia: £89,000
Zurich is the most expensive city in Europe to buy property, with the average 2-bed flat costing almost £1.1 million.
The next 3 most expensive European cities are also in Switzerland: Geneva, Lucerne and Lausanne, with prices of just over £1 million, £895,000 and £863,000 respectively.
The fifth most expensive city in Europe is London – with the average 2-bedroom flat in the city centre costing £850,000.
1. Zurich, Switzerland: £1,095,000
2. Geneva, Switzerland: £1,006,000
3. Lucerne, Switzerland: £895,000
3. Lausanne, Switzerland: £863,000
5. London, United Kingdom: £850,000
1. Kharkiv, Ukraine: £47,000
2. Dnipro, Ukraine: £54,000
3. Stara Zagora, Bulgaria: £63,000
4. Odessa, Ukraine: £68,000
5. Chelyabinsk, Russia: £86,000
Explore the table below to find out the cost of a flat around Europe and the world.
| Number | Country | Average price of a flat | Compared to global average |
|---|---|---|---|
| 1 | Singapore | £1,038,000 | 500% |
| 2 | Switzerland | £834,000 | 382% |
| 3 | South Korea | £647,000 | 274% |
| 4 | Luxembourg | £501,000 | 190% |
| 5 | Israel | £455,000 | 163% |
| 6 | Taiwan | £447,000 | 158% |
| 7 | Australia | £328,000 | 90% |
| 8 | Norway | £325,000 | 88% |
| 9 | Austria | £318,000 | 84% |
| 10 | Netherlands | £308,000 | 78% |
| 11 | Denmark | £280,000 | 62% |
| 12 | Germany | £279,000 | 61% |
| 13 | Japan | £275,000 | 59% |
| 14 | Sweden | £274,000 | 58% |
| 15 | United Arab Emirates | £258,000 | 49% |
| 16 | United Kingdom | £256,000 | 48% |
| 17 | France | £255,000 | 47% |
| 18 | New Zealand | £246,000 | 42% |
| 19 | Finland | £242,000 | 40% |
| 20 | Czech Republic | £239,000 | 38% |
| 21 | Kuwait | £233,000 | 35% |
| 22 | Ireland | £233,000 | 35% |
| 23 | China | £226,000 | 31% |
| 24 | Puerto Rico | £226,000 | 31% |
| 25 | Slovenia | £220,000 | 27% |
| 26 | Canada | £214,000 | 24% |
| 27 | Qatar | £207,000 | 20% |
| 28 | Croatia | £203,000 | 17% |
| 29 | Malta | £198,000 | 14% |
| 30 | Belgium | £196,000 | 13% |
| 31 | Spain | £195,000 | 13% |
| 32 | Mauritius | £195,000 | 13% |
| 33 | Estonia | £184,000 | 6% |
| 34 | Portugal | £179,000 | 3% |
| 35 | Slovakia | £173,000 | 0% |
| 36 | Cyprus | £171,000 | -1% |
| 37 | Poland | £171,000 | -1% |
| 38 | Italy | £171,000 | -1% |
| 39 | Thailand | £170,000 | -2% |
| 40 | Lithuania | £170,000 | -2% |
| 41 | Hungary | £169,000 | -2% |
| 42 | Vietnam | £158,000 | -9% |
| 43 | Sri Lanka | £155,000 | -10% |
| 44 | United States | £150,000 | -13% |
| 45 | Uruguay | £148,000 | -14% |
| 46 | Serbia | £140,000 | -19% |
| 47 | Greece | £140,000 | -19% |
| 48 | Montenegro | £137,000 | -21% |
| 49 | Armenia | £136,000 | -21% |
| 50 | Panama | £134,000 | -23% |
| 51 | Philippines | £132,000 | -24% |
| 52 | Albania | £124,000 | -28% |
| 53 | Latvia | £124,000 | -28% |
| 54 | Mexico | £122,000 | -29% |
| 55 | Nigeria | £118,000 | -32% |
| 56 | Romania | £114,000 | -34% |
| 57 | Lebanon | £113,000 | -35% |
| 58 | Bahrain | £113,000 | -35% |
| 59 | Russia | £113,000 | -35% |
| 60 | Moldova | £112,000 | -35% |
| 61 | Bosnia And Herzegovina | £109,000 | -37% |
| 62 | Chile | £103,000 | -40% |
| 63 | Bulgaria | £102,000 | -41% |
| 64 | Costa Rica | £102,000 | -41% |
| 65 | Saudi Arabia | £102,000 | -41% |
| 66 | Oman | £99,000 | -43% |
| 67 | Argentina | £98,000 | -43% |
| 68 | Nepal | £96,000 | -45% |
| 69 | Malaysia | £96,000 | -45% |
| 70 | Dominican Republic | £96,000 | -45% |
| 71 | Kosovo (Disputed Territory) | £95,000 | -45% |
| 72 | Peru | £94,000 | -46% |
| 73 | Azerbaijan | £93,000 | -46% |
| 74 | North Macedonia | £89,000 | -49% |
| 75 | Brazil | £85,000 | -51% |
| 76 | Colombia | £83,000 | -52% |
| 77 | Uzbekistan | £80,000 | -54% |
| 78 | Indonesia | £78,000 | -55% |
| 79 | Turkey | £78,000 | -55% |
| 80 | Belarus | £76,000 | -56% |
| 81 | Morocco | £71,000 | -59% |
| 82 | Georgia | £71,000 | -59% |
| 83 | Iraq | £68,000 | -61% |
| 84 | Ecuador | £68,000 | -61% |
| 85 | Ukraine | £64,000 | -63% |
| 86 | Kenya | £62,000 | -64% |
| 87 | Kazakhstan | £59,000 | -66% |
| 88 | Jordan | £57,000 | -67% |
| 89 | India | £56,000 | -68% |
| 90 | Bolivia | £56,000 | -68% |
| 91 | South Africa | £50,000 | -71% |
| 92 | Algeria | £50,000 | -71% |
| 93 | Tunisia | £47,000 | -73% |
| 94 | Iran | £45,000 | -74% |
| 95 | Bangladesh | £40,000 | -77% |
| 96 | Pakistan | £40,000 | -77% |
| 97 | Zimbabwe | £37,000 | -79% |
| 98 | Venezuela | £33,000 | -81% |
The property price per square metre in each country and city was sourced from Numbeo. Only countries and cities with a full data set available have been included. 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.
Matt Mckenna
UK Head of Communications
T: +44 20 8191 8806
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