How much is rent in Europe’s city centres, and how has it changed since 2020?
As the rental prices continued to climb through the block, the biggest leap of costs in the last five years was detected in South and Eastern Europe. This is according to a new Deutsche Bank report that examines 67 cities around the world and 28 in Europe.
According to Eurostat, housing prices increased by 27.3% between the first quarter of 2020 and 2025, while rents increased from June 2020 to 12.5%. However, this report shows that the rent increases in the city centers are significantly higher than this average.
So, as of 2025, which European cities have the most expensive rents? Where is the rents with the most affordable price? And which cities have been the biggest increases since 2020?
Athens cheapest, London is the most expensive
In 2025, a monthly rent for a three -bedroom apartment in the center of 28 cities in Europe changed to 5,088 € (or 4.278 £) in London with 1,080 € in Athens. European cities can be divided into three categories according to rent levels:
After London, the most expensive places to be rented in Europe are Zurich, Geneva and Amsterdam, all to € 3,800. Swiss cities are the most expensive, with more than 4.250 € rent. Dublin, Luxembourg, Paris, Copenhagen and Munich have high rents above € 3,000. These cities are major financial, political or international centers and increase strong demand for housing.
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RENTS BETWEEN 2,000 € to 3,000 €
A few well -developed cities have medium -range rents between € 2,000 and € 3,000. Milan, Edinburgh and Lisbon are at the top of this range.
Madrid, Stockholm, Berlin, Frankfurt and Barcelona are slightly more affordable, average rents are around 2,500 €.
Birmingham is close to Brussels, Vienna and Prague 2,100 €. These cities offer relatively lower living costs compared to the higher level.
The average rents of only five European cities are below € 2,000. In addition to the lowest Athens, Budapest (1,225 €) includes Istanbul (1,614 €), Warsaw (1,881 €) and Helsinki (€ 1,928 €).
These figures show that the Western and Northern Europe has the highest rents. Strong economies, high living standards and residential famine are key factors in these cities. While the south and Central Europe has more mixed rent levels, the east and southeast Europe continues to be the most affordable.
When non -European countries are included in the report, the New York average rent is a contrary with € 7,676 ($ 8.388), while Cairo is the cheapest of only € 377.
The average salaries in Dubai and Sydney city centers exceed € 4,000. This makes them more expensive than most European cities. The rents in Toronto, Seoul, Tokyo, Moscow and Shanghai enter the medium range of around 2,500 €.
Relating to
Rents for a single bedroom apartment in the center
Rent for a single bedroom housing, usually follows the same pattern as three bedrooms. However, some cities change places in the ranking. Price rates are also different.
Nevertheless, London (€ 2,732 or 2,297) allows Europe to be the most expensive, while Athens (595 €) are the cheapest.
In general, the cost of about three bedroom apartments with single bedroom apartments. This share rises to 64% in Oslo and 62% in San Francisco, but decreases to 37% in Seoul. That’s why San Francisco globally exceeds London at single bedroom rental prices.
The place where rents increase the most
The report shows the US Dollar figures, but we have turned them into euros for a more fair comparison. When displayed in local currencies, changes may vary.
Between 2020 and 2025, the monthly rent for a three -bedroom apartment in European city centers increased by 3% in Helsinki and 206% in Istanbul.
In general, South and Eastern Europe experienced the most powerful rent increase. Lisbon (81%), Prague (73%) and Edinburgh (71%), each increased by more than 70%followed Istanbul.
Rentes also increased significantly in Spain – 65% in Barcelona and 59% in Madrid. Athens and Warsaw were the other two European cities that increased slightly above 50%.
Relating to
Rental changes vary according to the size of the apartment
In the city center, the highest and lowest rent increases in Europe between 2020 and 2025 for a single bedroom apartment were still seen in Istanbul (191%) and Helsinki (18%). The increase in Helsinki was higher than a three -bedroom apartment (3%).
In some cities, the rent increase was higher for three -bedroom apartments such as Istanbul (15 percent more points more), Prague (23 S) and Amsterdam (10 S). Other cities have seen more increases for single -bedroom apartments, including Milan (20 PP) and Warsaw (10 S).
‘Large cities, larger housing costs‘Indicates how housing prices can change significantly within a country. For example, the housing in London is 50% more expensive than the UK average.
Income levels are important when discussing rentability. ‘European cities are ranked according to the rent-mesal ratio‘The article compares average revenues with rent costs.
