28-JUL-2022 | The latest research has shown that international students in Europe are faced with an average annual price increase of 14.5% across all rental property types.
HousingAnywhere, Europe’s largest rental accommodation marketplace, analyzed prices of the three main rental property types: one bedroom apartments, studios and private rooms. The research, which was conducted across 22 European cities during the first quarter of the 2022, showed that prices on the European residential rental market keep rising steeply, with an average annual price increase of 14.5% across all rental property types.
The report found Paris to be the most expensive city in Europe for both a private room and a one bedroom apartment. A one bedroom apartment in Paris costs, on average, a staggering €1,978 per month in rent, closely followed by London at €1,940. The rental prices decreased only in two cities. Prices for private rooms decreased in Helsinki by 5.9% and in Brussels by 1.1%.
The housing problem for international students studying in Europe is partially eased with purpose-built student accommodation. In most countries the private purpose-built student accommodation is more affordable than the private rental market. Notable examples of this trend are London and Paris, where the purpose-built student accommodation average monthly rent is 15% lower than in the private rental market. Rotterdam and Venice offer an even bigger gain in that respect.
Demand from renters is expected to continue to rise in the second and third quarter, driven by the ending of the Covid-19 pandemic restrictions and the return of international student mobility. Moreover, the war in Ukraine is not only impacting the inflation by pushing the fuel and gas prices up. It also adds to the challenges in the housing market as we see an increasing inflow of people displaced by the war to other European countries.
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