September 24, 2025 | 11:13 pm
TEMPO.CO, Jakarta - While rent continues to consume a significant portion of monthly income for many, recent developments in Europe’s housing market deserve closer attention. The Property Index report by Deloitte has revealed key trends across the continent, highlighting a phase of rebalancing in the housing sector following the pandemic-driven recovery and rapid price growth in home purchases.
As for the rental market, the report points to increasing competitiveness in 2024. Among its findings is a ranking of the most expensive cities in Europe for renters.
Out of 77 cities analyzed, Luxembourg tops the list, with average rental prices reaching €43.40 per square meter. This figure represents nearly 10 times higher than those in Durrës, Albania, the most affordable city in the study, underscoring the intensity of Luxembourg’s rental market growth.
Between 2023 and 2024, average apartment rents in Luxembourg rose by 16%, driven by strong demand for centrally located housing and a relatively limited supply. Rent increases for existing tenants averaged 1.7%, while furnished rooms saw a 2.2% annual rise.
Paris and Dublin follow Luxembourg as the second and third most expensive cities in Europe for renters, with average prices of €32 and €31.70 per square meter, respectively. In Paris, the 2024 rent hike has outpaced national inflation, reflecting ongoing demand pressures. Meanwhile, Dublin continues to grapple with a housing shortage, having missed its home-building targets in recent years.
Here’s the complete ranking of the most expensive cities in Europe for renters, based on the Property Index report by Deloitte.
List of the Most Expensive Cities in Europe for Renters
- Luxembourg City, Luxembourg: €43.40
- Paris, France: €32
- Dublin, Ireland: €31.70
- Barcelona, Spain: €29.90
- Oslo, Norway: €27.30
- Madrid, Spain: €27.10
- Amsterdam, Netherlands: €26.30
- Copenhagen, Denmark: €24.80
- London, England: €23.80
- Galway, Ireland: €22.90
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