This is Europe's most expensive city: An apartment square meter costs 18,229 euros!

Zurich has claimed the title of Europe's most expensive city for residential real estate, with average prices exceeding 18,229 euros per square meter, according to new data from Global Property Guide. This surge places Zurich at the top of a list where four out of the five most expensive cities are located in Switzerland and Luxembourg, highlighting a trend of wealth concentration in these regions despite broader economic headwinds affecting the continent.

Stockholm and Copenhagen present a mixed picture. Stockholm's average apartment price stands at 8,380 euros per square meter, a 7.2% increase from last year, recovering from a sharp correction in 2022. Copenhagen, however, shows a more robust growth of 14.3% year-over-year, reaching 8,405 euros per square meter. This contrasts sharply with other Danish cities like Aarhus, where prices have fallen significantly.

Oslo and Amsterdam also feature high on the list, with average prices of 9,332 euros and 9,437 euros per square meter, respectively. Both cities have seen considerable price increases over the past two years. Paris, while still among the most expensive at 9,490 euros per square meter, is the weakest performer in the top ten, with a slight decrease in price over the last year and a more significant drop over two years, failing to see the expected post-Olympic recovery.

Bern, the Swiss capital, recorded an average price of 9,952 euros per square meter. While showing a slight decrease of 0.7% from the previous year, prices have risen by 4.5% over two years. Factors contributing to high prices in these cities include strong household wealth, political stability, and limited housing supply, creating a luxury market rather than a conventional one for many buyers.