Where Are Apartments the Most Expensive in Europe: A Ranking of Cities in 2026

The cost per square meter of housing in the centers of European cities varies by nearly a factor of nine. Zurich topped the ranking at €22,910 per m², while real estate in Istanbul costs €2,646 per m². Learn more about the most expensive and most affordable cities in Europe for buying an apartment in 2026

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Housing prices in the centers of European cities in 2026 vary by nearly a factor of nine. In Zurich, a square meter costs €22,910, while in Istanbul it costs €2,646. Buying an 80-square-meter apartment in these cities would cost approximately €1.83 million and €212,000, respectively.

These figures are cited in the Deutsche Bank Research Institute report “Mapping the World’s Prices 2026”, which analyzed 69 cities worldwide. The European portion of the ranking includes 28 cities. The study specifically compares apartment prices in central districts, rather than average housing prices across countries.

In the previous article, we reported on the most expensive cities in the world to live in in 2026, according to Numbeo.

Are you planning to buy real estate abroad? Before concluding a deal, it is important to consider not only the price per square meter, but also tax liabilities, restrictions for foreigners, title checks, and additional costs. Visit World's real estate lawyers will help you analyze the property, assess legal risks, and accompany you at all stages of the transaction: from the initial consultation to the signing of the contract. Get professional support and confidence in every step.

How much does housing cost in the centers of European cities?

The average price per square meter across the 28 cities is €9,090. However, this figure masks a significant gap between individual markets. In Zurich, housing is nearly 2.5 times more expensive than the average, while in Istanbul, it is approximately 3.4 times cheaper.

The study takes into account apartment prices in city centers. The data was obtained from the Numbeo and Deutsche Bank databases. For comparison, all amounts were converted to euros using the European Central Bank’s average exchange rates for the first half of 2026.

The most expensive cities are in Switzerland, the United Kingdom, France, and Austria. At the bottom of the ranking are Istanbul, Athens, Brussels, and Birmingham. The difference between first and last place is as high as €20,264 per square meter.

Cost per square meter of an apartment in the center of European cities in 2026, in euros. Source: Deutsche Bank Research Institute, visualization by Euronews.

Learn more about the Top 5 real estate markets for investment in 2026by following the link.

Zurich and Geneva topped the European ranking

Switzerland is the only country with two cities occupying the top two spots. In Zurich, a square meter of an apartment in the city center costs €22,910, while in Geneva it costs €19,439. The difference between them is €3,471 per m².

The five most expensive cities in Europe are as follows:

1. Zurich, Switzerland – €22,910 per m². An 80 m² apartment would cost approximately €1.83 million.

2. Geneva, Switzerland – €19,439 per m². A home of the same size would cost about €1.56 million.

3. London, United Kingdom – €17,241 per m². The approximate cost of an apartment is €1.38 million, or about £1.18 million.

4. Paris, France – €12,771 per m². Buying an 80 m² apartment in the center of the French capital will cost approximately €1.02 million.

5. Vienna, Austria – €12,483 per m². A similar apartment would cost nearly €999,000.

The difference between Zurich and Vienna exceeds €10,400 per square meter. For an 80-square-meter apartment, a buyer in Zurich will pay approximately €834,000 more. At the same time, only four cities in the entire European ranking have crossed the €1 million threshold for an apartment of this size: Zurich, Geneva, London, and Paris.

In our previous article, we discussed how to rent an apartment in Germany: the lease agreement, security deposit, and tenant rights.

London is 35% more expensive than Paris

Among Europe’s largest economies, only the United Kingdom and France have capitals in the top ten. London ranked third with a price of €17,241 per m², while Paris ranked fourth with a price of €12,771. The difference is €4,470 per square meter, or about €358,000 when purchasing an 80-square-meter apartment.

Munich, not Berlin, was named the most expensive German city. A square meter in its city center costs €11,435, ranking sixth in Europe. In Berlin, the price is €7,613, and in Frankfurt, it is €7,162. Thus, real estate in central Munich is approximately 50% more expensive than in the German capital.

A similar situation is observed in Italy. Milan, with a price of €9,378 per m², significantly outpaces Rome, where housing costs €7,328. The difference between the cities exceeds €2,000 per m².

In Spain’s capital, prices reach €7,831 per square meter. That’s €1,346 more than in Barcelona, where a square meter is valued at €6,485. Among the cities listed, London remains the undisputed leader: housing in its center is more than twice as expensive as in Berlin, Madrid, or Rome.

We previously discussed the specifics of renting an apartment in Belgium in 2026: prices, security deposits, documents, and rules for foreigners.

Scandinavian cities remain among the most expensive

Three Northern European capitals made it into the top ten. Copenhagen (Denmark) ranked eighth with a price of €10,191 per square meter. Stockholm (Sweden) came in ninth with a price of €10,037. Oslo (Norway) rounded out the top 10, where a square meter costs €9,785.

Prices in Copenhagen and Stockholm are nearly identical. The difference between them is only €154 per m². An 80-square-meter apartment would cost approximately €815,000 in the Danish capital and €803,000 in the Swedish capital. In Oslo, a home of this size would cost around €783,000.

Helsinki ranked lower, at 13th place.

A square meter in the city center costs €8,431, and an 80 m² apartment costs about €674,000. This is approximately €141,000 less than in Copenhagen.

In our previous article, we discussed the new rules for renting housing in Poland: what requirements apartment owners must meet.

Prague outranked Madrid, Berlin, and Rome

Prague ranked 14th with a price of €8,353 per square meter. Housing in the center of the Czech capital turned out to be more expensive than in a number of major cities in Western and Southern Europe. Specifically, a square meter here costs €522 more than in Madrid and €740 more than in Berlin.

The following cities were ranked in the middle of the list:

- Prague, Czech Republic – €8,353 per m²

- Madrid, Spain – €7,831

- Berlin, Germany – €7,613

- Rome, Italy – €7,328

- Dublin, Ireland – €7,185

- Frankfurt, Germany – €7,162

- Lisbon, Portugal – €6,636

- Barcelona, Spain – €6,485

An 80-square-meter apartment in central Prague costs about €668,000. In Madrid, a similar apartment costs approximately €626,000; in Berlin, €609,000; and in Rome, €586,000.

The smallest price difference in this group is between Dublin and Frankfurt, at just €23 per square meter. In contrast, Prague is €1,868 per square meter more expensive than Barcelona, which amounts to a difference of nearly €150,000 for an 80-square-meter apartment.

Learn more about the best countries for foreigners to buy real estate in 2026 by following the link.

Istanbul and Athens were the most affordable in the ranking

The lowest housing cost among the 28 European cities surveyed was recorded in Istanbul. A square meter of an apartment in the city center costs €2,646. This is 8.7 times less than in Zurich.

Athens took second place among the most affordable cities, with a price of €3,443 per m². Next were Brussels and Birmingham. These are the only four cities in the ranking where prices do not exceed €5,000 per square meter.

The lower part of the ranking looks like this:

- Istanbul, Turkey – €2,646 per m²

- Athens, Greece – €3,443

- Brussels, Belgium – €4,380

- Birmingham, United Kingdom – €4,671

- Budapest, Hungary – €5,243

- Warsaw, Poland – €5,443

- Edinburgh, United Kingdom – €5,708

An 80-square-meter apartment in Istanbul would cost approximately €212,000, while in Athens it would cost €275,000.

In Brussels, such a home costs about €350,000, and in Birmingham, €374,000. Even Edinburgh, the most expensive city in this group, remains well below the average: an 80 m² apartment there costs approximately €457,000.

Buying a home in another country is not only an investment but also a serious legal procedure. Mistakes in documents, unaccounted taxes or restrictions for foreigners can lead to financial losses. Consultation with a real estate lawyer from Visit World will help you to safely complete the transaction, check the seller and avoid hidden risks. Contact the experts to make your real estate purchase abroad as transparent and secure as possible.

We remind you! The Cypriot parliament is considering draft laws that could significantly change the conditions for buying real estate for citizens of countries outside the European Union. The initiatives include quantitative limits on properties, geographical bans and transparency requirements for transactions. Read more about the proposed restrictions, foreign purchases statistics and how to prepare for possible changes in the Cyprus real estate market.

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