These European Cities Have the Cheapest Homes, With Prices Around €2,600 per Square Metre

An apartment in central Zurich costs nearly nine times more per square metre than one in Istanbul, according to a Deutsche Bank Research Institute analysis of housing prices.

The report, “Mapping the World’s Prices 2026,” compares central apartment prices in 69 cities worldwide, including 28 European cities. The European average is €9,090 per square metre. At that rate, an 80-square-metre apartment would cost about €727,000.

Zurich tops the European ranking at €22,910 per square metre. An 80-square-metre apartment there would cost around €1.83 million. Geneva follows at €19,439 per square metre, or about €1.56 million for the same size home. London ranks third at €17,241 per square metre, putting an 80-square-metre apartment at roughly €1.38 million, or about £1.18 million.

Paris is cheaper than London but still costs €12,771 per square metre in the center. Vienna ranks fifth at €12,483. Other cities in the top 10 include Munich at €11,435, Luxembourg at €11,011, Copenhagen at €10,191, Stockholm at €10,037 and Oslo at €9,785.

The comparison also places Helsinki at €8,431 per square metre, Milan at €9,378 and Amsterdam at €9,273. Prague is more expensive than Madrid and Berlin, at €8,352 per square metre, compared with €7,831 in Madrid and €7,613 in Berlin. Rome, Dublin and Frankfurt range from €7,328 to €7,162, while Lisbon and Barcelona cost €6,636 and €6,485 respectively.

Istanbul is the cheapest of the European cities analyzed, at €2,646 per square metre. Athens follows at €3,442. The figures come as housing affordability has become a major issue across Europe, amid limited availability and rising costs, particularly in capitals, large urban centers and tourist destinations.