HousingAnywhere International Rent Index by City Q1 2024

Growth in European Rent Prices Eases, But Still at 3.8% YoY

HousingAnywhere Rent Index 1-to-3 bedroom aparments average rental price

  • A 3.8% rent price increase in HousingAnywhere’s Rent Index for Q1 2024 points to prices remaining resilient against declines, despite increases losing steam.
  • Five cities in Europe consistently maintain their positions as the most highly priced across rooms, apartments, and studios, with apartments in Amsterdam and Paris at €2,275 and €1,862.

Rotterdam, April 9th 2024 – The International Rent Index by City by HousingAnywhere, Europe’s largest mid-term rental platform, reveals that rent price increases are losing momentum for yet another quarter. After seven quarters of decelerating price increases, the Index recorded a 3.8% year-on-year (YoY) increase in the first quarter of 2024. This is just two points down compared to the 5.8% YoY hike at the end of 2023. Per property type, rent prices registered a 3.9% increase for apartments, 3.2% for rooms, and 4.4% for studios. Despite the slowdown in price growth, prices remain resistant to decline posing continued affordability challenges in Europe.

Djordy Seelmann, CEO of HousingAnyhwere:

“While inflation has shown recent improvements (1), it continues to exert pressure on tenants’ wallets. Concurrently, rising construction costs pose a risk to cities' housing expansion plans for residential purposes. Industry leaders and policymakers must prioritize collaboration to ensure timely delivery of supply expansion plans, as tackling supply shortage is crucial to effectively alleviate pressure in Europe's rental markets over the long term”.

A recent survey conducted by research company BONARD at the end of 2023 among Purpose Built Student Accommodation (PBSA) leaders revealed that 52% of respondents anticipate the need to increase rents to offset rising construction costs (2).

HousingAnywhere’s International Rent Index analyzes price variations in rooms, 1-to-3 bedroom apartments and studios advertised on the platform that received interest from potential tenants. Of the +65,000 properties analyzed in 28 European cities, across 11 countries, 98% are furnished and 62% include bills.

EN Rent Price Variation

Five Cities Consistently Highly Priced in All Property Types

Amsterdam, Paris, The Hague, Munich, and Utrecht consistently rank among the top 10 most highly priced cities across apartments, rooms, and studios, indicating consistent affordability challenges in the Netherlands and Germany. Among all the cities in the top 10, only Munich experiences a YoY price decrease for all property types. While Amsterdam remains the most expensive city to rent across the 28 cities analyzed, its studio prices have seen a marginal decrease of 0.6%.

EN HousingAnywhere Rent Index Q1 2024 All properties

Due to the lack of housing supply in the Netherlands, and the scarcity of studios compared to other property types, the median prices of studios in Amsterdam, The Hague and Utrecht may show more pronounced variations given a reduced sample size.

Apartments: Lisbon Finally Balancing Out After Last Year’s Increases

Amsterdam and Rome retain their positions as the top two most highly priced cities in the Index for apartments, with minimal YoY rent price increases of 0.1% and 2.6% respectively. Turin and Valencia see the highest YoY increases in rents at 37.5% and 33.3%, yet remain among the European cities with the lowest rents, at €1,100 and €1,400. Following significant price increases in 2023, Lisbon registered a substantial YoY decrease of 21.1%, making it the ninth most highly priced city for apartments, with rents at €1,700. Regarding price per square meter, Paris commands the highest price at €42.7 per m2, followed by Munich at €33.4.

Rooms: A Quarterly Decrease Lowering Room Prices

The rooms segment witnessed a quarter-on-quarter (QoQ) decrease in prices, albeit minimal at 1%, which is sufficient to result in a lower annual price increase than the rest of the property types. German and Dutch cities dominate the list of the most highly priced cities for rooms, with Paris entering the ranking in eighth position. Utrecht sees a significant rise in the rankings, with a 26.4% YoY increase. Budapest remains the most affordable city to rent a room, with rents at €330. Valencia and Athens follow as the next most affordable cities, and still registered significant YoY increases of 7.1% and 14.3% respectively.

Studios: Italy Climbing Up the Ladder

While still predominant in the ranking, some German cities experienced price drops, such as Stuttgart and Berlin with decreases of 26.2% and 7.7% respectively. Conversely, some Italian cities have witnessed sharp increases. With an increase of no less than 25%, Bologna ranks fifth as the most highly priced city for studios. Rome holds the ninth position, with a median rent of €1,200 and a YoY increase of 20%. In Spain, Madrid sees a YoY increase of 13.7%, gradually closing the gap with prices in Barcelona. Valencia registers one of the highest YoY rent price increases (23%), but still offers more affordable rent prices (with a median rent of €800).

About the HousingAnywhere International Rent Index by City

For this 23rd quarterly edition of the Rent Index by City, HousingAnywhere analyzed 66,997 properties that were listed and received interest from potential tenants on the platform in the past year. Data shown includes property types such as single rooms, studios, and apartments from one to three bedrooms located across 28 European cities. Out of all the apartments analyzed, 59% were one-bedroom apartments, 31% were two-bedroom apartments, and 10% were three-bedroom apartments. Approximately 97% of the listed properties were fully furnished and 61% included bills in their rent, with all listings mainly geared towards servicing young professionals and students relocating across borders.

These are the 28 cities included in this edition of the report: Amsterdam, Rome, Paris, Rotterdam, The Hague, Munich, Utrecht, Milan, Lisbon, Hamburg, Florence, Bologna, Prague, Stuttgart, Frankfurt am Main, Berlin, Barcelona, Madrid, Köln, Valencia, Düsseldorf, Porto, Vienna, Helsinki, Brussels, Turin, Athens, Budapest.

The report is also available in Spanish, Italian, German and Dutch.

About HousingAnywhere

HousingAnywhere is Europe’s largest mid-term rental platform. With Kamernet and Studapart under its umbrella, it represents three fast-growing brands with over 30 million yearly unique visitors combined, 160,000+ properties available for rent and 100,000+ tenants securing their new homes, based on the 2023 performance. HousingAnywhere serves young professionals and students, primarily aged between 18 and 35, connecting them with accommodation providers. Through its advanced technology platform, tenants rent accommodation for 3 to 12 months outside of their country of origin. Headquartered in Rotterdam, HousingAnywhere operates in most European cities and recently expanded to key cities in the US, establishing a presence in over 125 cities. Driven by the mission to enable people to live wherever and however they choose thanks to a flexible renting experience, the technology scale-up employs 340 professionals globally.

Press Contact

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