Do you think that Kyiv prices are mercilessly biting into the wallets of tenants? They will seem gentle and toothless to you compared to the European ones. Before shocking you, we suggest that you familiarize yourself with last year’s statistics for Kyiv. Although, the cost of rent in many cities is such that it would not hurt you to study the analytics regarding purchase and sale. We won’t be surprised if buying real estate in the capital of Ukraine will cost less than annual rent in one of the countries in our rating today.
Carrie Bradshaw index and rent in the big city
What does this have to do with the well-known heroine? British news weekly The Economist decided to name its index after the fashionista and New York Star journalist to emphasize that it includes cities in which only select connoisseurs of luxury and chic can afford life. The ranking of the most expensive cities to rent was first published last year, but audiences loved these statistics, so together with The Economist we want to share with you the latest data for 2024.
Just as Carrie Bradshaw assessed the affordability of rentals in American cities in her column, the British magazine decided to conduct a similar analysis in its native latitudes and compiled a rating for European cities. 35 cities were taken for analysis - from London to Ankara. The unwritten rule is that to live comfortably, a person should spend no more than 30% of their income (before taxes) on rent. A group of analysts analyzed the cost of renting one-room apartments in major European cities. In accordance with the rule already known to you, experts derived a “recommended annual salary level” and compared it with real figures taken from ERI Economic Research Institute. The ten most expensive cities for rent are as follows:
- Geneva, Switzerland - the recommended level of $95,164 is $3,800 more than average salary.
- London, UK - the recommended level of $95,164 is $31,364 more than the average salary.
- Dublin, Ireland - The recommended level of $88,676 is $33,192 more than the average salary.
- Luxembourg, Luxembourg - The recommended level of $80,024 is $3,847 less than the average salary.
- Reykjavik, Iceland – The recommended level of $67,047 is $1,645 more than the average salary.
- Munich, Germany - The recommended level of $67,047 is $10,274 more than the average salary.
- Bern, Switzerland - The recommended level of $64,885 is $22,338 less than the average salary.
- Oslo, Norway – The recommended level of $62,772 is $2,078 less than the average salary.
- Paris, France - The recommended level of $58,396 is $3,614 more than the average salary.
- Lisbon, Portugal - The recommended level of $58,396 is $27,428 less than the average salary.
Only in Luxembourg, Bern, Oslo and Lisbon, the level of wages of the population not only corresponds to the “golden rule of rent”, but also exceeds it, so citizens spend even a little less than 30% of their earnings on a one-room apartment. A similar situation is also observed in Lyon (France), where the salary is $10,989 above the recommended level of $34,173, and in Helsinki (Finland), where the recommended salary is $47,582, which is $6,612 less than the actual one.
The most affordable rental properties can be found in Warsaw, Sofia and Ankara. But even here, the current standard of living does not correspond to the ideal one derived using the Carrie Bradshaw index. You can view statistics for all 35 cities directly at page The Economist.
