Split and Lisbon Tied as Europe's Least Affordable Cities for Homebuyers

Buying a home in Europe has become an almost unattainable goal for many citizens, with Split, Croatia, and Lisbon, Portugal, topping the list of least affordable cities for property purchases. According to a Euronews analysis, both cities share the dubious distinction of requiring nearly 19 years of an average household's total income to buy an apartment, assuming no other expenses. This ratio, a key indicator of housing affordability, far exceeds the threshold of 10, which experts consider a sign of a severely overheated market.

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The ratio of property price to annual household income... shows how many years of average income are needed to buy an apartment. Experts consider a ratio greater than 10 to be a sign of a seriously overheated market.

Following Split and Lisbon, other cities like Prague, Milan, and Tirana present a ratio of 18.1, with Vienna, Belgrade, Paris, London, and Brno also showing significant affordability challenges. The data underscores a growing trend across numerous European cities where homeownership is increasingly out of reach.

In Split, the property market shows no signs of cooling down. In May 2026, the average asking price for residential properties reached 5,660 euros per square meter, marking an almost 12% increase from the previous year. The southern part of the city was the most expensive, with prices averaging 6,276 euros per square meter. Rental prices have also surged, with the average asking rent rising by nearly 12% year-over-year to 18.74 euros per square meter in May.

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In both cities, this ratio reaches as high as 18.7. In other words, it would take an average household almost 19 years of total income to buy an apartment, assuming they spend none of their earned money on anything else.

Lisbon has become a stark example of Europe's housing crisis. Property prices in Portugal have soared by nearly 240% in the last decade, while wages have only increased by approximately 59%. This disparity has priced out a significant portion of the population. Reports from the OECD highlight Portugal's housing system as one of the least affordable among developed nations, citing insufficient new construction, a poorly developed rental market, and regulatory hurdles. The crisis has fueled mass citizen protests demanding more affordable housing, stricter rent controls, and the activation of vacant properties.

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Property prices in Portugal have risen by almost 240% in the last decade, while wages have risen by about 59% at the same time.