Cheapest EU rental escape routes are Athens, Sofia and Bucharest

October 30, 2019

Whether you voted Remain or Leave it’s been a difficult time for Britons, as the Government continues in its failure to return any level of certainty to the UK property sector when it comes to our departure from the EU.

If you’re unhappy with the deal being struck and want to remain in an EU member state, or you’re so sick of the process that you just want to put some distance between yourself and Westminster, property management platform Bunk has analysed the cost of renting in EU capital cities to find where’s the most affordable.

Athens is the cheapest for one beds

The cheapest EU capital city centre to rent out a one-bed apartment is the historic city of Athens in Greece (£316).

Other cheap options are Bulgaria’s capital Sofia (£323), Bucharest in Romania (£336), as well as the Latvian capital, Riga (£337).

To put these prices into context, in London it typically costs £1,544 to rent a one-bed apartment in the city centre, while it’s also a costly affair in Dublin, Ireland (£1,425) and Amsterdam, Netherlands (£1,354),

Bucharest is the cheapest for three beds 

If you need a bit more space, Bucharest in Romania is the cheapest EU city to rent a three-bed apartment, costing just £557 per month.

The capitals of Bulgaria, Greece and Latvia are once again on the cheaper end of the scale.

Other locations that are affordable for renters are Zagreb in Croatia (£656), Vilnius in Lithuania (£724) and Nicosia in Cyprus (£734).

If you’re looking for somewhere cheap, places to avoid include Luxembourg City (£2,347), the French capital Paris (£2,226) and Copenhagen in Denmark (£1,925).

In London, it costs £2,718 to rent a three-bed apartment – the most expensive of the lot.

Tom Woolard, co-founder of Bunk, said:

“Regardless of your stance on Brexit, it’s quite astonishing to see just how expensive the cost of renting in London and the UK is when compared to many other areas of Europe. In fact, outside of the UK and Ireland just a very small handful of nations present the same affordability issues facing tenants here.”

Cheapest EU Rentals – rankings
EU 27 – average rent 1 bed city apartment
EU Nation
Capital City
Average rent – city centre – 1 bed apartment (per month)
Greece
Athens
£316
Bulgaria
Sofia
£323
Romania
Bucharest
£336
Latvia
Riga
£337
Croatia
Zagreb
£402
Hungary
Budapest
£411
Lithuania
Vilnius
£414
Cyprus
Nicosia
£441
Estonia
Tallinn
£455
Slovenia
Ljubljana
£488
Poland
Warsaw
£517
Slovakia
Bratislava
£531
Czech Republic
Prague
£636
Belgium
Brussels
£716
Portugal
Lisbon
£749
Germany
Berlin
£758
Spain
Madrid
£785
Malta
Valletta
£804
Finland
Helsinki
£827
Italy
Rome
£874
Sweden
Stockholm
£953
Denmark
Copenhagen
£1,016
France
Paris
£1,055
Luxembourg
Luxembourg City
£1,281
Netherlands
Amsterdam
£1,354
Ireland
Dublin
£1,425
United Kingdom
London
£1,544
EU 27 – average rent 3 bed city apartment
EU Nation
Capital City
Average rent – city centre – 3 bed apartment (per month)
Romania
Bucharest
£557
Bulgaria
Sofia
£568
Greece
Athens
£568
Latvia
Riga
£596
Croatia
Zagreb
£656
Lithuania
Vilnius
£724
Cyprus
Nicosia
£734
Estonia
Tallinn
£752
Hungary
Budapest
£774
Slovakia
Bratislava
£884
Poland
Warsaw
£917
Slovenia
Ljubljana
£923
Czech Republic
Prague
£1,097
Belgium
Brussels
£1,250
Spain
Madrid
£1,403
Portugal
Lisbon
£1,455
Germany
Berlin
£1,461
Malta
Valletta
£1,503
Finland
Helsinki
£1,531
Sweden
Stockholm
£1,582
Italy
Rome
£1,628
Denmark
Copenhagen
£1,925
France
Paris
£2,226
Netherlands
Amsterdam
£2,253
Luxembourg
Luxembourg City
£2,347
Ireland
Dublin
£2,562
United Kingdom
London
£2,718

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