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Euronews
a day ago
- Business
- Euronews
Rent vs net salary in Europe: The most and least affordable cities
Housing takes up a large part of household budgets, and this share is growing across Europe, according to Eurostat. High rent prices in city centres add extra pressure, especially for low-income earners and those on minimum wage. In some European countries and cities, rent can consume nearly an entire salary. In fact, in certain places, average net salaries are not enough to cover the rent for a one-bedroom apartment in the city centre, according to Deutsche Bank Research Institute. So, which countries and cities in Europe have the best rent-to-salary ratio? Where is rent simply unaffordable? And how do European cities compare to global ones in terms of housing costs and salaries? The Mapping the World's Prices report compares net monthly salaries and rents for one-bedroom apartments in city centres across 69 cities worldwide. Euronews Business takes a closer look at the 28 European cities included in the report along with a few others for broader comparison. Where are the highest salaries in Europe? In 2025, average monthly net salaries range from just €151 in Cairo to €7,307 in Geneva, with Zurich close behind at €7,127. This makes Switzerland the highest-paying country overall. In Europe, Istanbul has the lowest salary at €855, followed by €1,044 in Athens. People in the Northern and Western European cities are well-paid. The net salaries are above €4,000 in Luxembourg, Amsterdam, Copenhagen and Frankfurt. Rome has the lowest average salary among the capital cities of Europe's five largest economies, at €2,046. Madrid follows slightly higher at €2,193. Salaries are significantly higher in Berlin (€3,565), Paris (€3,630), and London (€3,637), with only minimal differences among the UK, France, and Germany. Salaries are also high in US cities, which make up five of the top 11 globally. Which European cities have the highest rents? Rents for one-bedroom apartments in city centres vary widely, ranging from as low as €189 in Cairo to €3,792 ($4,143) in New York. US cities dominate the top end of the scale. In Europe, the highest rent is in London at €2,732 (£2,365), while the lowest is in Athens at just €595. In Zurich, Dublin, Amsterdam, and Geneva, rents also exceed €2,000, while in Istanbul and Budapest, they remain below €900. Lisbon and Istanbul: Salary doesn't cover the rent The percentage of salary spent on rent is a more useful measure. It shows how much disposable income is left after paying for accommodation. The rent-to-salary ratio ranges from 24% in Bangalore to 125% in Cairo. A ratio of 100% means the entire salary goes to rent. Anything above that means nothing is left in the pocket or extra income is needed to cover rent. In Europe, rent-to-salary ratio differs from 29% in Geneva to 116% in Lisbon. Besides the Portuguese capital, the ratio is also slightly above 100% in Istanbul (101%). This means the average net salary is not enough to pay the rent for a one-bedroom apartment in either Lisbon or Istanbul. Single earners need to spend three-quarters of their salary on rent in London (75%), as well as in Barcelona and Madrid (both at 74%). In Milan, the ratio is also high at 71%. More than half of the average salary is also spent on rent in several other cities: Rome (65%), Dublin (62%), Athens (57%), Warsaw (56%), Prague (54%), and Budapest (52%). Where is the lowest rent-to-salary ratios? Geneva (29%) is the only European city where the rent-to-salary ratio is below 30%. Following that, there are five more European cities where single earners spend less than two-fifths, or 40%, of their salary on rent. They include Luxembourg and Frankfurt (both at 34%), Zurich and Helsinki (both at 35%), and Vienna (38%). Except for Helsinki, these examples do not mean that rent is cheap in these cities. Instead, they reflect higher salaries, which reduce the percentage of income spent on rent. Among the capital cities of the top five European economies, Berlin has the lowest rent-to-salary ratio, with residents spending 40% of their average income on rent. Paris follows the German capital at 45%. London has the highest ratio at 75%, followed by Madrid at 74% and Rome at 65%. This ratio in other major cities is as follows: Dublin (62%), Athens (57%), Amsterdam (49%), Stockholm (46%), Edinburgh (44%), Copenhagen (43%), and Oslo (42%). In the global list, other cities where the salary does not cover the rent include Bogota (120%), Mexico City (118%), and São Paulo (102%). In some cities, while the rent can just be paid, there is almost nothing left from the salary—this includes Rio de Janeiro (100%), Manila (94%), Buenos Aires (88%), and Mumbai (84%). The rent-to-salary ratio in New York is 81%, making it the highest among US cities. How much is left after paying the rent? Globally, the highest disposable incomes after paying rent are found in two Swiss cities: Geneva (€5,174) and Zurich (€4,638). The lowest is also in Europe, with Lisbon at –€202, meaning the average salary is not enough to cover the rent. In Istanbul, a single earner needs to find an extra €13 to pay the rent. Besides the two Swiss cities, disposable income after rent is also above €2,000 in six more European cities: Luxembourg (€3,725), Frankfurt (€2,726), Copenhagen (€2,421), Amsterdam (€2,194), Oslo (€2,140) and Helsinki (€2,021). An OECD report shows that bigger cities come with higher housing costs. Spending on housing and utilities has risen over the past 20 years in the EU.
Yahoo
4 days ago
- Business
- Yahoo
The cost of love: Europe's most expensive and cheapest cities for a date
Love might be priceless, but dating certainly isn't. As the cost of living continues to rise, singles are finding that romance comes with a higher price tag than ever before. And it's not just first dates. Couples in long-term relationships are also tightening their belts when it comes to nights out and shared experiences. The cost of a date varies widely across Europe, reflecting differences in local price levels. It has also risen significantly over the past five years. So, which European cities are the most expensive or the most affordable for a date? And just how much should you expect to spend on a romantic outing in Europe? A study from Deutsche Bank Research Institute compares the cost of a date across 67 cities worldwide — and nearly half of the studied cities are in Europe. Drawing on data from this report ("Mapping the World's Prices"), Euronews Business takes a closer look at how much dating actually costs in European cities. For the purposes of the research, a 'cheap date' is defined as: one bottle of wine, a pair of jeans, a dress, two coffees, a meal for two at a mid-range restaurant, two cinema tickets, two one-way public transport tickets, and a 5km taxi ride. Swiss and Nordic cities most expensive for dating This year, Switzerland topped the list as the most expensive country in Europe for a "cheap" date. In terms of cities, Geneva leads with an average cost of €400, followed closely by Zurich at €393 — taking the top two spots in the ranking. Copenhagen (€337) and Oslo (€321) follow the Swiss cities. In Europe, Stockholm comes in 7th at €292, while Helsinki takes 9th place at €286 — placing the Nordic capitals alongside Switzerland as the most expensive locations for a date on the continent. Britain tops EU's Big Four in dating costs A "cheap" date costs €313 (£269) in London and €297 (£255) in Edinburgh, placing the two British cities 5th and 6th on the list. This also makes the UK the most expensive country for dating when compared to the EU's four largest economies. In the capitals of those economies, the costs are notably lower: €268 in Paris, €248 in Berlin, €224 in Madrid, and €200 in Rome. Interestingly, some non-capital cities are pricier than their capitals — such as Milan (€275), Munich (€272), Frankfurt (€251), while Barcelona is a slight exception at €214. The average cost of a cheap date across 28 European cities is €264. Cheap dates: Istanbul, Prague, and Budapest Istanbul ranks as the cheapest European city for dating at €163, followed by Prague (€186) and Budapest (€192). However, these figures reflect nominal prices and do not take into account purchasing power standards (PPS). For locals, these costs may still feel high. When income levels are considered, the picture of affordability across cities is likely to shift significantly. The cost of a cheap date in several other European cities includes: Amsterdam (€290), Dublin (€283), Brussels (€275), Vienna (€253), Athens (€218), and Lisbon (€214). How do non-European cities compare in dating costs? Outside Europe, New York ranks as the most expensive city globally at €301 ($354), placing 6th among 67 cities. Bangalore, India, is the cheapest, with a date costing just €88. Related Swipe right - but watch your data: Dating app hit with AI privacy complaint LGBTQ+ dating: This study ranked the best European cities for a romantic getaway Tel Aviv-Yafo is also among the more expensive cities, with a date costing €291. Buenos Aires (€252) is pricier than many major European cities, as well as globally popular destinations like Los Angeles (€244), Dubai (€244), and Tokyo (€184). On the other hand, Shanghai, Cape Town, and Rio de Janeiro are significantly cheaper in nominal terms, with the cost of a date falling below €150. Dating has become significantly more expensive In October 2022, inflation in the EU reached its highest level in four decades, with the cost of living rising sharply across nearly all member states. When comparing the Cheap Date Index from 2020 to 2025, a significant increase is evident. Although the original report is in USD, we converted the figures into euros to offer a clearer perspective, and then calculated the change over this period. Istanbul saw the highest increase, with the cost of a cheap date rising by 84% in euro terms. The increase is also 40% or more in several other cities: Edinburgh (46%), Budapest (45%), London (41%), and Birmingham (40%). However, part of this rise is influenced by exchange rate fluctuations. In the UK, for example, the actual increase would be slightly lower when calculated in local currency — around 33% in London. In Istanbul, the impact is even more dramatic: due to the sharp depreciation of the Turkish lira in recent years, the local cost of a cheap date has surged by over 840%. Across most European cities, the cost of a cheap date has risen by approximately 25–30% over the past five years. Rome stands out as the only city where prices have actually declined in euro terms by 2%. A Euronews Business article titled 'Which Are the Cheapest and Most Expensive Countries in Europe?' compares European countries based on overall cost of living.
Yahoo
11-07-2025
- Business
- Yahoo
The cost of love: Europe's most expensive and cheapest cities for a date
Love might be priceless, but dating certainly isn't. As the cost of living continues to rise, singles are finding that romance comes with a higher price tag than ever before. And it's not just first dates. Couples in long-term relationships are also tightening their belts when it comes to nights out and shared experiences. The cost of a date varies widely across Europe, reflecting differences in local price levels. It has also risen significantly over the past five years. So, which European cities are the most expensive or the most affordable for a date? And just how much should you expect to spend on a romantic outing in Europe? A study from Deutsche Bank Research Institute compares the cost of a date across 67 cities worldwide — and nearly half of the studied cities are in Europe. Drawing on data from this report ("Mapping the World's Prices"), Euronews Business takes a closer look at how much dating actually costs in European cities. For the purposes of the research, a 'cheap date' is defined as: one bottle of wine, a pair of jeans, a dress, two coffees, a meal for two at a mid-range restaurant, two cinema tickets, two one-way public transport tickets, and a 5km taxi ride. This year, Switzerland topped the list as the most expensive country in Europe for a "cheap" date. In terms of cities, Geneva leads with an average cost of €400, followed closely by Zurich at €393 — taking the top two spots in the ranking. Copenhagen (€337) and Oslo (€321) follow the Swiss cities. In Europe, Stockholm comes in 7th at €292, while Helsinki takes 9th place at €286 — placing the Nordic capitals alongside Switzerland as the most expensive locations for a date on the continent. A "cheap" date costs €313 (£269) in London and €297 (£255) in Edinburgh, placing the two British cities 5th and 6th on the list. This also makes the UK the most expensive country for dating when compared to the EU's four largest economies. In the capitals of those economies, the costs are notably lower: €268 in Paris, €248 in Berlin, €224 in Madrid, and €200 in Rome. Interestingly, some non-capital cities are pricier than their capitals — such as Milan (€275), Munich (€272), Frankfurt (€251), while Barcelona is a slight exception at €214. The average cost of a cheap date across 28 European cities is €264. Istanbul ranks as the cheapest European city for dating at €163, followed by Prague (€186) and Budapest (€192). However, these figures reflect nominal prices and do not take into account purchasing power standards (PPS). For locals, these costs may still feel high. When income levels are considered, the picture of affordability across cities is likely to shift significantly. The cost of a cheap date in several other European cities includes: Amsterdam (€290), Dublin (€283), Brussels (€275), Vienna (€253), Athens (€218), and Lisbon (€214). Outside Europe, New York ranks as the most expensive city globally at €301 ($354), placing 6th among 67 cities. Bangalore, India, is the cheapest, with a date costing just €88. Related Swipe right - but watch your data: Dating app hit with AI privacy complaint LGBTQ+ dating: This study ranked the best European cities for a romantic getaway Tel Aviv-Yafo is also among the more expensive cities, with a date costing €291. Buenos Aires (€252) is pricier than many major European cities, as well as globally popular destinations like Los Angeles (€244), Dubai (€244), and Tokyo (€184). On the other hand, Shanghai, Cape Town, and Rio de Janeiro are significantly cheaper in nominal terms, with the cost of a date falling below €150. In October 2022, inflation in the EU reached its highest level in four decades, with the cost of living rising sharply across nearly all member states. When comparing the Cheap Date Index from 2020 to 2025, a significant increase is evident. Although the original report is in USD, we converted the figures into euros to offer a clearer perspective, and then calculated the change over this period. Istanbul saw the highest increase, with the cost of a cheap date rising by 84% in euro terms. The increase is also 40% or more in several other cities: Edinburgh (46%), Budapest (45%), London (41%), and Birmingham (40%). However, part of this rise is influenced by exchange rate fluctuations. In the UK, for example, the actual increase would be slightly lower when calculated in local currency — around 33% in London. In Istanbul, the impact is even more dramatic: due to the sharp depreciation of the Turkish lira in recent years, the local cost of a cheap date has surged by over 840%. Across most European cities, the cost of a cheap date has risen by approximately 25–30% over the past five years. Rome stands out as the only city where prices have actually declined in euro terms by 2%. A Euronews Business article titled 'Which Are the Cheapest and Most Expensive Countries in Europe?' compares European countries based on overall cost of living.
Euronews
11-07-2025
- Business
- Euronews
Cost of love: Europe's most expensive and cheapest cities for a date
Love might be priceless, but dating certainly isn't. As the cost of living continues to rise, singles are finding that romance comes with a higher price tag than ever before. And it's not just first dates. Couples in long-term relationships are also tightening their belts when it comes to nights out and shared experiences. The cost of a date varies widely across Europe, reflecting differences in local price levels. It has also risen significantly over the past five years. So, which European cities are the most expensive or the most affordable for a date? And just how much should you expect to spend on a romantic outing in Europe? A study from Deutsche Bank Research Institute compares the cost of a date across 67 cities worldwide — and nearly half of the studied cities are in Europe. Drawing on data from this report ("Mapping the World's Prices"), Euronews Business takes a closer look at how much dating actually costs in European cities. For the purposes of the research, a 'cheap date' is defined as: one bottle of wine, a pair of jeans, a dress, two coffees, a meal for two at a mid-range restaurant, two cinema tickets, two one-way public transport tickets, and a 5km taxi ride. Swiss and Nordic cities most expensive for dating This year, Switzerland topped the list as the most expensive country in Europe for a "cheap" date. In terms of cities, Geneva leads with an average cost of €400, followed closely by Zurich at €393 — taking the top two spots in the ranking. Copenhagen (€337) and Oslo (€321) follow the Swiss cities. In Europe, Stockholm comes in 7th at €292, while Helsinki takes 9th place at €286 — placing the Nordic capitals alongside Switzerland as the most expensive locations for a date on the continent. Britain tops EU's Big Four in dating costs A "cheap" date costs €313 (£269) in London and €297 (£255) in Edinburgh, placing the two British cities 5th and 6th on the list. This also makes the UK the most expensive country for dating when compared to the EU's four largest economies. In the capitals of those economies, the costs are notably lower: €268 in Paris, €248 in Berlin, €224 in Madrid, and €200 in Rome. Interestingly, some non-capital cities are pricier than their capitals — such as Milan (€275), Munich (€272), Frankfurt (€251), while Barcelona is a slight exception at €214. The average cost of a cheap date across 28 European cities is €264. Cheap dates: Istanbul, Prague, and Budapest Istanbul ranks as the cheapest European city for dating at €163, followed by Prague (€186) and Budapest (€192). However, these figures reflect nominal prices and do not take into account purchasing power standards (PPS). For locals, these costs may still feel high. When income levels are considered, the picture of affordability across cities is likely to shift significantly. The cost of a cheap date in several other European cities includes: Amsterdam (€290), Dublin (€283), Brussels (€275), Vienna (€253), Athens (€218), and Lisbon (€214). How do non-European cities compare in dating costs? Outside Europe, New York ranks as the most expensive city globally at €301 ($354), placing 6th among 67 cities. Bangalore, India, is the cheapest, with a date costing just €88. Tel Aviv-Yafo is also among the more expensive cities, with a date costing €291. Buenos Aires (€252) is pricier than many major European cities, as well as globally popular destinations like Los Angeles (€244), Dubai (€244), and Tokyo (€184). On the other hand, Shanghai, Cape Town, and Rio de Janeiro are significantly cheaper in nominal terms, with the cost of a date falling below €150. Dating has become significantly more expensive In October 2022, inflation in the EU reached its highest level in four decades, with the cost of living rising sharply across nearly all member states. When comparing the Cheap Date Index from 2020 to 2025, a significant increase is evident. Although the original report is in USD, we converted the figures into euros to offer a clearer perspective, and then calculated the change over this period. Istanbul saw the highest increase, with the cost of a cheap date rising by 84% in euro terms. The increase is also 40% or more in several other cities: Edinburgh (46%), Budapest (45%), London (41%), and Birmingham (40%). However, part of this rise is influenced by exchange rate fluctuations. In the UK, for example, the actual increase would be slightly lower when calculated in local currency — around 33% in London. In Istanbul, the impact is even more dramatic: due to the sharp depreciation of the Turkish lira in recent years, the local cost of a cheap date has surged by over 840%. Across most European cities, the cost of a cheap date has risen by approximately 25–30% over the past five years. Rome stands out as the only city where prices have actually declined in euro terms by 2%. A Euronews Business article titled 'Which Are the Cheapest and Most Expensive Countries in Europe?' compares European countries based on overall cost of living.
Yahoo
10-07-2025
- Business
- Yahoo
Spain overtakes Japan in GDP per capita - what is behind the numbers?
What once seemed improbable became possible when the Spanish economy produced higher GDP per capita, a metric closely linked to living standards, than the G7 member Japan, according to IMF data. This, in itself, doesn't mean that the Southern European economy is bigger than Japan's when comparing its overall value of goods and services. But when Spain's GDP is divided by the number of people living in the country and turned into US dollars, the GDP per capita in current prices turns out to be higher than that of Japan's. In 2025, the GDP per capita denominated in US dollars was $33,960 in Japan, whereas in Spain it came to $36,190. This same figure was already slightly higher in the Southern European economy than in the Asian tech-oriented economy in 2024. 'There is a real story behind this, but also a big caveat,' pointed out Ángel Talavera, Head of Europe Economics at Oxford Economics. While the Spanish economy has been one of the fastest-growing, 'this figure is also driven by a statistical artifact,' he told Euronews Business. 'The Japanese yen has depreciated 40% since 2021, which means that even if Japanese GDP per capita in local currency remains unchanged, it is 40% lower when measured in US dollars,' he said. This means that a large amount of Japanese economic data has deteriorated significantly in recent years when measured in US dollars needed for international comparisons. Related The Spanish economy grew 3.2% in 2024: Why is it outperforming peers? Spanish economy bucks the trend as it continues to show growth Spain, which emerged from the financial crisis a little over ten years ago, expanded its economy by 3.2% in 2024, outperforming France, Germany and Italy, the three biggest economies in the eurozone. The German economy, Europe's biggest, contracted by 0.2%. Spain's GDP was driven up by strong domestic demand, robust tourism, and other services. The service sector provides a little over two-thirds of the country's economic output, and improvement on this front is one of the key reasons behind Spain's success. 'Global tourism has benefited this economy more strongly than it has benefited Japan,' said Mathieu Savary, Chief European Strategist at BCA Research. In Spain, growth was also strengthened by strong government support and lower energy prices than in other European countries. Significant population growth also contributed to improved output. Savary added that Spain's strong economic performance in the last decade has been supported by 'brutal reforms and a major adjustment in labour costs in the wake of the European Sovereign Debt Crisis last decade, that have boosted its competitiveness'. During the financial crisis, unemployment in Spain was around 25%, one of the highest in the EU. There was a tendency for struggling businesses to favour temporary staff contracts, and in response, Spain approved reforms to soften employee protection in permanent contracts. Reducing firing costs and workers rights, among other reforms, improved labour mobility, helping to match positions with skilled workers, leading to improved productivity. Meanwhile, Japan's "ossified labour market means that its labour productivity remains poor,' Savary added. Japan, the fourth-largest economy in the world, has been struggling to maintain its leading role in the global economy, losing its spot as the third biggest economy to Germany last year. IMF data suggests that in 2025, Japan is expected to be overtaken by India as well, falling to fifth position in terms of GDP. The technology-driven Japanese economy has barely grown in the last three decades, and it was hit hard by the COVID-19 pandemic. Its GDP collapsed by 4.2% in 2020. Japanese research firm Nikko Research Center said in a recent report that the country has been struggling due to the lack of innovation. The report also noted that in the year 2000, Japan's GDP per capita was ranked globally the second highest after Luxembourg. It is now the 38th. Related Japan's Prime Minister urges Trump to choose investment over tariffs Germany now world's third largest economy as Japan loses its spot Japan's current economic performance doesn't point to a quick turnaround. The economy shrank in the first quarter, driven by weak exports. This is coupled with a sluggish domestic demand, rising inflation and slow production. US tariffs and tariff threats are damaging exports and industrial production, fuelling fears that Japan's economy could go into recession in the second quarter. The Japanese economy is sustained by a lot of fiscal stimulus, focusing on energy subsidies, wage support, and digital infrastructure. The continuing lethargy in the Japanese economy is also fuelled by its ageing population, resulting in acute labour shortages and mounting social security costs. Service-driven economies such as Spain are projected to outperform in the future, too, as consumer trends are shifting across the globe. Overall, the contribution of services to economies worldwide has increased significantly. The service sector's share of global GDP increased from 53% to 67% between 1970 and 2021, according to the World Trade Organisation (WTO). According to the IMF, Spain's GDP per capita is expected to remain ahead of Japan's until the end of its current forecast, in 2030. Spain's GDP per capita is expected to exceed $42,300 while Japan's will remain around $41,700, based on current trends. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
