Where in Europe will it be easiest to save up for a home in 2026?

A high salary does not necessarily guarantee the ability to quickly buy your own home. In some European countries, even with an average income, you can save up for an apartment much faster than in countries with higher wages. Real estate prices, cost of living, and the portion of income that can be saved play a decisive role. Where in Europe will housing be most affordable in 2026, how many years will it take to save up for an apartment, and which countries offer the best conditions for buyers?

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

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Where in Europe will it be easiest to save up for an apartment in 2026?

European real estate prices continue to rise. According to Eurostat, in the second quarter of 2026, housing prices in the EU rose by 4.7% compared to the same period the previous year. The largest increases were recorded in Portugal (+16.5%), Bulgaria (+15.5%), and Lithuania (+14.3%). At the same time, prices fell by 2.7% in Finland, by 2.2% in Luxembourg, and by 0.8% in France.

However, housing affordability is determined not only by its cost but also by local income levels. The Price-to-Income Ratio index is used for comparison, which shows the ratio of real estate prices to household income. The lower the ratio, the more affordable housing is relative to earnings.

According to the Numbeo ranking for 2026, the best housing price-to-income ratios among the European countries surveyed are found in:

1. Belgium – 6.1: one of the lowest ratios in Europe

2. Denmark – 6.1: high wages offset the high cost of real estate

3. Ireland – 6.9: a relatively favorable ratio of income to housing prices

4. Finland – 7.2: real estate is more affordable relative to wages than in many EU countries

5. The Netherlands – 7.5: high income levels partially offset the expensive real estate market

For comparison, in Germany the index stands at 7.9, in Spain at 8.5, in Poland at 10.2, and in the Czech Republic at 13.2. Thus, even within the EU, the difference in the affordability of homeownership remains significant.

At the same time, this index does not reflect the actual number of years needed to save for an apartment. The actual timeframe depends on take-home pay, rent, daily expenses, and the portion of income a person can set aside each month.

That is why, to assess the feasibility of saving for a home in Europe, it is necessary to compare not only average prices per square meter but also the amount remaining after essential expenses. In the following sections, we will examine specific examples and calculate the potential time required to save for a 50 m² apartment.

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

How much does a home cost in different European countries?

Real estate prices in Europe vary significantly depending on the country, city, and location of the apartment. For comparison, let’s look at 50 m² apartments in Germany, Poland, the Czech Republic, Spain, and Ukraine. We’ll base our analysis on approximate prices per square meter outside central districts and average monthly salaries after taxes.

Germany

Germany is characterized by high household incomes; however, purchasing real estate requires significant savings. A square meter of an apartment outside the city center costs an average of 3,562 euros, while in central districts it costs 5,418 euros.

Key figures:

- A 50 m² apartment outside the city center: about 178,100 euros

- A comparable apartment in the city center: approximately 270,900 euros

- Average take-home pay: 2,940 euros per month

In Munich, Frankfurt, and Hamburg, prices are generally higher than in smaller cities. Leipzig and Dresden, on the other hand, offer more affordable options. For buyers who are not tied to a specific workplace, choosing a smaller city can significantly reduce the required budget.

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

Poland

The Polish market remains cheaper than the German one in absolute terms, although the ratio of housing costs to local salaries is less favorable.

Average figures:

- Price per square meter outside the city center: 9,952 zlotys

- Price of a 50-square-meter apartment: approximately 497,600 zlotys

- Price of a similar apartment in the city center: about 700,600 zlotys

- Average take-home pay: 6,267 zlotys per month

Warsaw, Kraków, and Gdańsk are among the more expensive markets. At the same time, more affordable options can be found in Łódź, Lublin, and Białystok. It is important to note that the difference in prices between large and small cities may be accompanied by differences in local salary levels.

In our previous article, we discussed where foreigners can buy real estate in 2026.

Czech Republic

The Czech Republic is one example of how high demand for real estate outpaces the affordability of buyers with average incomes. This problem is particularly noticeable in Prague, where apartments are significantly more expensive than in most regional cities.

According to Numbeo:

- Price per square meter outside the city center: 82,196 crowns

- Cost of a 50-square-meter apartment: approximately 4.11 million crowns

- A similar apartment in the city center: about 5.58 million crowns

- Average take-home pay: 38,306 crowns per month

Prague has one of the highest housing-to-income ratios among Czech cities—17.1. By comparison, this ratio is 7.98 in Ostrava. Therefore, the choice of city in the Czech Republic has a particularly strong impact on the affordability of home ownership.

Learn more about the Top 5 Real Estate Markets for Investment in 2026 by following the link.

Spain

The Spanish real estate market is characterized by a significant disparity between popular tourist destinations and inland regions. Madrid, Barcelona, Málaga, and certain coastal resorts attract buyers, which keeps demand and prices high.

National averages:

- Price per square meter outside the city center: 2,298 euros

- Cost of a 50 m² apartment: approximately 114,900 euros

- Similar housing in the city center: about 182,400 euros

- Average net monthly salary: 1,752 euros

More affordable options can be found in inland regions, particularly in Castile-La Mancha, Extremadura, and Castile and León. However, lower housing costs do not always compensate for the difference in salaries and employment opportunities.

In our previous article, we discussed where it’s most expensive to buy an apartment in Europe: a ranking of cities in 2026.

Finland

Finland stands out for its relatively favorable ratio of real estate prices to household income. Despite the high standard of living, apartments here are, on average, cheaper than in Germany. The greatest difference is observed between the capital region and smaller cities.

According to Numbeo data for 2026:

- Price per square meter outside the city center: 2,569 euros

- Cost of a 50 m² apartment: approximately 128,450 euros

- Similar housing in the city center: about 218,850 euros

- Average net salary: 2,612 euros per month

Helsinki remains one of the most expensive cities in the country. At the same time, more affordable options can be found in Tampere, Turku, Oulu, and Jyväskylä. For example, the housing-to-income ratio in Helsinki is 11.5, while in Turku it is 6.6 and in Oulu it is 5.9. This makes regional cities attractive to buyers who are not tied to the capital.

All amounts listed are approximate calculations based on Numbeo data for 2026. These are crowdsourced estimates, not average prices of actual transactions. They also do not include taxes, notary fees, renovations, or other costs associated with purchasing an apartment.

The main takeaway: the cheapest apartment doesn’t necessarily mean the quickest path to homeownership. For example, real estate prices in Germany are higher than in Spain or Poland, but average incomes are also significantly higher. This is what determines how much money a potential buyer can save each month.

How many years does it take to save up for an apartment in Europe?

Even in countries with high salaries, saving up the full cost of an apartment can take decades. To assess the affordability of homeownership in Europe, let’s compare the time required to save in Germany, Poland, the Czech Republic, Spain, and Finland.

For our calculations, we’ll use average net salaries and the approximate cost of a 50 m² apartment outside the city center. Let’s consider three scenarios: saving 10%, 20%, or 30% of income each month.

Assuming stable incomes and constant real estate prices, the time required to save would be:

- Finland: approximately 41 years when saving 10% of income, 20.5 years when saving 20%, and 13.7 years when saving 30%

- Germany: 50.5 years at 10%, 25.2 years at 20%, and 16.8 years at 30%

- Spain: 54.7 years at 10%, 27.3 years at 20%, and 18.2 years at 30%

- Poland: 66.2 years at 10%, 33.1 years at 20%, and 22.1 years at 30%

- Czech Republic: 89.4 years at 10%, 44.7 years at 20%, and 29.8 years at 30%

Thus, among the five countries considered, Finland is the fastest place to save up for your own apartment. If you set aside one-fifth of your average take-home pay, you can theoretically accumulate the necessary amount in 20.5 years. In Germany, this process will take nearly five years longer, and in the Czech Republic—more than twice as long.

Increasing the savings rate from 10% to 30% reduces the savings period by two-thirds. However, the ability to regularly set aside one-third of one’s salary depends largely on rent costs, daily expenses, and household composition.

What Factors Affect Actual Savings Periods?

The calculations provided are approximate. They do not account for changes in real estate prices, inflation, or additional costs associated with purchasing a home.

The time it takes to save for an apartment in Europe depends on several factors:

- Rent. In large cities, a significant portion of one’s salary is spent on housing, which limits savings potential.

- Rising real estate prices. If apartment prices rise faster than savings grow, it becomes more difficult to reach the required amount.

- The number of working members in the household. Two stable incomes can allow you to set aside more money without significantly cutting back on daily expenses.

- Additional purchase costs. Taxes, notary and registration fees, commissions, and renovation costs all increase the required budget.

Therefore, purchasing real estate exclusively with personal savings remains a long-term goal even in high-income countries. For many buyers, a more realistic strategy is to save up a down payment and purchase an apartment with a mortgage.

This shortens the waiting period, although it entails additional costs for interest and insurance.

We previously reported on where real estate prices rose the most in 2026.

How much do you need to save for a down payment on a mortgage?

To buy an apartment in Europe, you don’t necessarily have to save up the full purchase price. A mortgage allows you to pay for part of the property with your own funds and gradually pay the rest to the bank. In most of the countries considered, buyers should expect a down payment of 10–20% of the property’s value, although specific requirements depend on the country, the bank, and the borrower’s financial situation.

What down payment is required in different European countries?

Mortgage lending terms vary even within the EU. For example, in the Czech Republic, there are regulator-imposed limits on the loan-to-value ratio, whereas in Germany, the size of the down payment is largely determined by the bank.

Key conditions in 2026:

- Germany: Consumer organizations recommend having equity amounting to 20–30% of the property’s value, as well as funds for additional expenses. For an apartment costing 178,100 euros, this amounts to approximately 35,600–53,400 euros, excluding fees.

- Poland: The standard guideline is a 20% down payment. If the bank provides certain protective mechanisms, financing with a 10% down payment is possible. For an apartment costing 497,600 zlotys, you’ll need to save approximately 49,800–99,500 zlotys.

- Czech Republic: The maximum LTV is 80%, meaning the standard down payment is at least 20%. For buyers under 36 years of age purchasing a home for their own residence, an LTV of up to 90% is permitted. Therefore, for an apartment costing 4.11 million crowns, you’ll need approximately 411,000–822,000 crowns.

- Spain: Banks typically finance up to 80% of the property’s appraised value. For an apartment priced at 114,900 euros, the down payment would be about 23,000 euros. Conditions may be stricter for non-residents.

- Finland: As of July 2026, the maximum LTV for standard residential loans is 95%. Theoretically, this allows you to purchase an apartment for 128,450 euros with a down payment of about 6,400 euros. However, banks may require additional savings or collateral.

In our previous article, we discussed real estate in Portugal: how much housing costs in Lisbon, Porto, and the Algarve in 2026.

How many years does it take to save up for a down payment?

Specific examples clearly illustrate the difference between buying with your own funds and purchasing with a mortgage.

In Germany, a buyer with an average net salary of 2,940 euros who sets aside 20% of their income will save 35,600 euros in about 5 years. In Spain, using a similar approach, it will take about 5.5 years to save a down payment of 23,000 euros.

In Poland, saving up 20% of an apartment’s cost with an average salary of 6,267 zlotys would take about 6.6 years. In the Czech Republic, it would take nearly 9 years to save for a standard down payment of 822,000 crowns.

The shortest theoretical timeframe among the examples considered is in Finland. Assuming a 5% down payment and setting aside 20% of the average net salary each month, the required amount can be saved in about one year. However, this scenario is only possible if the bank approves the corresponding financing and sufficient collateral.

What additional expenses should you plan for?

Saving for a down payment on a mortgage is only part of preparing to buy real estate. In addition to the down payment, the buyer may need funds for:

- Tax on the purchase or transfer of real estate

- Notary services and state registration

- Apartment appraisal and bank fees

- Property insurance

- Real estate agent fees, if paid by the buyer

For example, in Germany, the real estate acquisition tax varies by federal state and ranges from 3.5% to 6.5% of the property’s value. For an apartment costing 178,100 euros, this amounts to an additional 6,200–11,600 euros in tax alone.

Buying an apartment in Europe with a mortgage can significantly shorten the savings period. However, a low down payment does not always mean a more favorable loan. The larger the loan amount, the higher the total interest costs and financial burden may be over the coming years.

How does the interest rate affect the cost of a mortgage?

In addition to the down payment, the buyer must assess the cost of the loan. According to the European Central Bank, in August 2026, the average interest rate on new residential loans in the eurozone was 3.60% per annum. However, actual rates depend on the country, the bank, the loan term, and the borrower’s financial situation.

For example, for a 150,000-euro mortgage with a 25-year term, the monthly payment would be approximately:

- 711 euros – at a 3% annual interest rate

- 792 euros – at a 4% interest rate

- 877 euros – at a 5% interest rate

A difference of two percentage points increases the total overpayment by nearly 50,000 euros over 25 years. This calculation assumes a fixed interest rate and equal monthly payments, excluding insurance and additional fees.

Therefore, when choosing a mortgage, it’s important to evaluate not only the size of the down payment but also the total cost of the loan. Particular attention should be paid to the terms for adjusting the interest rate and the option for early repayment.

In our previous article, we discussed mortgages in Spain in 2026: who banks are more willing to lend money to for housing.

In which European cities will housing be most affordable in 2026?

The cost of an apartment within a single country can vary by a factor of two or three depending on the city. Therefore, buyers who want to save up for their own home more quickly should consider not only capital cities but also regional centers with developed infrastructure and relatively affordable real estate.

Among the interesting options for buying an apartment, five cities stand out:

1. Leipzig, Germany. A square meter outside the city center costs approximately 2,087 euros. A 50-square-meter apartment will cost 104,350 euros. By comparison, a similar apartment in Berlin would cost about 262,200 euros—2.5 times more. The average take-home pay in Leipzig is 2,574 euros.

2. Zaragoza, Spain. An alternative to the more expensive cities of Madrid and Barcelona. The average price per square meter outside the city center is 1,716 euros, and a 50-square-meter apartment costs about 85,800 euros. With an average take-home pay of 1,709 euros, this is one of the more affordable options among major Spanish cities.

3. Łódź, Poland. A square meter outside the city center costs approximately 9,289 zlotys, and a 50-square-meter apartment costs about 464,450 zlotys. The average net salary is 6,324 zlotys. The housing price-to-income ratio in Łódź is 8.5.

4. Ostrava, Czech Republic. Significantly more affordable than Prague. The average price per square meter outside the city center is 50,288 korunas, and a 50-square-meter apartment costs approximately 2.51 million korunas. With an average net salary of 37,514 korunas, the price-to-income ratio here is about 8.0, compared to 18.9 in Prague.

5. Vantaa, Finland. A city in the capital region where real estate is more affordable than in central Helsinki. A square meter outside the city center costs approximately 2,069 euros, and a 50-square-meter apartment costs 103,450 euros. The average net salary is 2,263 euros.

The most cost-effective option depends on your source of income. For someone who works remotely and has a stable income, moving to a less expensive city can significantly shorten the time it takes to save up. If your income depends on the local job market, however, you need to compare not only the cost per square meter but also available salaries and employment prospects.

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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