London, a favorite of Russian businessmen, where real estate prices have traditionally been high, has dropped out of the top three. Last year, housing in the British capital was considered the most expensive, and in 2005 London ranks only fifth on the list.
Between Madrid and London lies Dublin, with €330 thousand for full-fledged housing. Paris, also considered one of the most expensive cities in the world, according to Era Immobilier, took only ninth place.
These figures can be explained by the fact that the French real estate company did not take into account the quality of housing and its size. For example, the living area of an average apartment in Paris is 40 square meters, while in London it is only 32. This means that the same amount of living space costs even more in London than in Paris.
This is confirmed by data from numerous studies on which of the European capitals is the most expensive for housing - according to the ranking of the British publication Economist, Oslo is considered the most expensive city in Europe, followed by Paris, London, Geneva, Frankfurt, Stockholm and Moscow. And according to the Mercer Human Resource Consulting rating, Moscow takes first place, followed by Geneva, London, Zurich, St. Petersburg, Oslo. Luxembourg is not in the top ranks in any of the ratings.
The cheapest housing in the EU is in Brussels and Athens - in the Belgian city, property buyers spend on average €182.2 thousand, and in the capital of Greece - €192 thousand.
Real estate prices are rising differently in European Union countries. In new EU members, growth is usually more significant, since demand for housing there, especially in resort areas, is increasing, while prices have not yet reached the level of old EU members, where price growth is more moderate. The exception is Spain, where Era Immobilier experts predict a serious rise in real estate prices.