From Warsaw to Rome, research by letting management platform, Mashroom compared the renting rates of 18 countries in Europe, looking at what percentage are living in a rented property.
What are the top rental hotspots in Europe?
According to Mashroom’s survey, Germany takes the lead with the highest percentage of renters which make up over half of the country’s population. The country’s homeownership rate ranks among the lowest in the developed world as the rental market is more favourable, owing to the fact that rent is not allowed to rise more than 15% over a three-year period.
Denmark came in second place due to its pro-tenant laws, while Austria rounded off the top three.
Top 10 European rental hotspots, according to Mashroom:
- Germany - 54.3% of renters
- Denmark - 34.4%
- Austria - 30.2%
- Netherlands - 26.5%
- France - 25.3%
- Belgium - 24.4%
- Ireland - 24.4%
- UK - 24.1%
- Czechia - 23.4%
- Poland - 15.3%
European cities with the most and least expensive rent
According to the survey, the French capital, Paris, emerged as the most expensive city to rent averaging EUR 27.80 monthly per square meter, while Oslo followed with EUR 25.30, and London in third place with EUR 20.10.
Among the least expensive rental rates was Berlin averaging EUR 7.30 monthly per square meter, followed by Vienna with EUR 9.80, and Budapest with EUR 10.50.
Most expensive rental cities (average monthly rent per sqm), according to Mashroom
- Paris (EUR 27.80)
- Oslo (EUR 25.30)
- London (EUR 20.10)
- Copenhagen (EUR 19.00)
- Amsterdam (EUR 18.70)
- Madrid (EUR 18.10)
- Manchester (EUR 14.80)
- Warsaw (EUR 14.60)
- Rome (EUR 13.40)
- Prague (EUR 13.40)
Photo Credit: Martin Krchnacek on Unsplash