Average monthly rental prices, January 2020 report
The HousingAnywhere International Rent Index confirms a continuing rise in rental prices for Q4 2019. The increase in rental growth in the more expensive cities, such as London, Amsterdam and Munich, has decelerated in 2019. This hasn’t been the case for cities that are cheaper by comparison. These typically cheaper cities have seen a steep rental growth in the past year, most notably; Berlin, Barcelona, Madrid, Vienna, and Brussels. Djordy Seelmann, CEO of HousingAnywhere:
The Q4 report reflects what we have been observing for a while now. It will be interesting to see if a ceiling will be reached in 2020 for the most expensive European cities, and which lower-priced cities will catch up to the more expensive ones. The housing shortage certainly remains as pressing as it has been in past years. Additionally, we expect to see the first effects of those measures implemented by governments and municipalities which were introduced to alleviate the housing shortage.
Average monthly rental price for furnished one-bedroom apartments, private rooms, and studios.
Top 5 biggest rental increase, year over year
Vienna saw the highest overall increase in rent in Q4 2019, with an increase of 8.9% for apartments, bringing the average monthly rent to € 971 and an increase of 14.6% for studios, increasing the average to € 804 per month. The average rental price for single rooms increased by 6.1% to € 480 per month.
Barcelona saw the second-highest overall increase in rent prices year over year. The average rent for apartments increased by 9.6% to € 1,249, the average rent for studios increased by 8% to € 896 and the price for a single room increased with 8.2% to an average of € 509.
In Madrid, prices for apartments increased by 5% to € 1,127, prices for studios climbed by 10.3% to € 837 and single rooms by 8.5% to € 543.
Compared to Q4 2018, rental prices for apartments in Berlin increased by 8.3% to € 1,142. Studio prices increased by 8.7% to € 883 and the average rental price for a single room increased by 5.8% to € 579.
Brussels saw its rental prices for apartments increase by 6.8% to € 963, while prices for studios increased by 6.1% to € 681. Compared to last year, the price for a single room increased by 8.9% to € 580.
Top 5 Most Expensive Cities in the Rent Index
As has been the case in past years, London firmly remains the most expensive European city for renting rooms, apartments and studios. Prices have been leveling out, however, in the past year. The average rent for one bedroom apartments has increased by 1% to € 1,747 and the price for studios has increased slightly by 0.3% to € 1,142. The average rental price for a single room in London has increased by 0.9% to € 697 per month.
The second most expensive European city, Amsterdam, saw an increase for one bedroom apartments with 0.5% to € 1,683, while prices for studios rose by 0.8% to € 996, and prices for single rooms increased by 2%, reaching an average € 627 per month.
In Munich, rental prices for one bedroom apartments increased by 1.2% to € 1,525, studios saw an increase of 0.9% to € 1,034, and the rent for single rooms has gone up by 1.1% to € 688 per month.
Helsinki’s one bedroom and studio prices remained stable at an average of € 1,398 and € 920 per month respectively, indicating that the growth rate has leveled out. Rental prices for single rooms showed a small increase of 0.2% bringing them to an average of € 669 per month.
Utrecht showed a slight increase in rental prices of 0.1% for one bedroom apartments meaning the monthly average reached € 1,289, and an increase of 0.6% for studios to € 995. Single rooms, however, saw a larger growth rate of 1.4%, resulting in an average rental price of € 648 per month.
About the HousingAnywhere International Rent Index
For this rent price index, HousingAnywhere analyzed 94,311 properties listed on the platform between October 2018 and December 2019. To ensure the data was representative, properties that did not receive active interest from potential tenants, as well as listings that were considered outliers, were excluded. Properties deemed as too expensive or cheap were not considered for this report as they threatened to skew the data. The report comprises cities that could provide a sample large enough for the data to be reliable. Data is shown only for single rooms in joined living arrangements, studios, and one-bedroom apartments. The report is also available in Spanish, Italian, German and Dutch.
HousingAnywhere is the world's largest rental accommodation platform for young professionals and international students boasting over 50,000 active advertisements and over 8 million users in over 60 countries. More than 150 partner universities recommend their students to use the HousingAnywhere platform. The Rotterdam-based technology start-up employs 100 people.
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