Housing affordability across Europe varies dramatically. In some countries, a typical home costs just a few years’ worth of income, while in others it can take well over a decade. New data from late 2024 to early 2025 reveal sharp differences in median house prices and salaries across the continent.
Housing Affordability Across Europe
The Czech Republic remains the least affordable country for home ownership. A median-priced home costs around €255,000, while the median net monthly salary is €1,600, meaning about 159 months of pay. Denmark and Norway are the most affordable, with median homes costing about 4.7 to 4.8 times gross annual salary. In Denmark, a mid-priced home priced at approximately €240,000 amounts to around 52 months of median income.
Germany, France, and the United Kingdom are near the European average. In Germany, a median home priced at approximately €320,000 costs about 96 months of pay, based on a median salary of €3,320 per month. France and the United Kingdom require around 9 to 10 years of salary. In Southern Europe, lower prices but also lower wages result in mixed affordability. In Spain, a median home costing approximately €180,000 equals about 89 months of salary, while in Italy the figure is around 79 months. Greece, despite rising prices, remains relatively affordable at about 83 months of median salary.
Central and Eastern Europe face tougher challenges. In Hungary, a median home priced at approximately €155,000 costs about 10.7 years of median pay. In Poland, the figure is around 7.3 years. Serbia is one of the least affordable, with a mid-priced home costing approximately €120,000, equal to around 15.4 years of income.
Belgium, Ireland, and the Netherlands present mid-range scenarios, with home purchases requiring around 6 to 7 years of salary.
Where Buying a Home Is Easiest and Hardest
The most expensive markets relative to income are the Czech Republic, Slovakia, Hungary, and Serbia. In Czechia, a home costs more than 13 years of gross salary. In contrast, Denmark and Norway are the easiest places to buy a home, with less than 5 years of salary needed.
Affordable markets include Italy, Greece, Belgium, and Ireland, where buying a house typically requires 6 to 7 years of pay. Affordability is better where salaries are relatively high compared to property prices.
Capital Cities Compared to National Averages
Capital cities are usually far less affordable. Amsterdam remains one of the least affordable cities, requiring more than 174 months of salary to buy a home. Prague and Bratislava follow, with around 13 to 14 years of income needed. Athens worsened slightly by early 2025, now requiring about 13.5 years of salary.
More affordable capitals include Rome and Oslo. In Rome, a home costs about 81 months of salary, and in Oslo, about 82 months, due to relatively high local incomes.
Trends in 2024–2025: A Mixed Picture
Affordability trends remain mixed. In Germany and France, slight property price declines in late 2024 eased affordability. Belgium remained stable, thanks to wage growth. However, in Southern Europe and some Eastern European countries, housing affordability deteriorated as prices rose faster than wages. In Athens, for instance, the number of salary years needed to buy a home increased slightly.
Mortgage rate hikes have further strained buyers’ ability to purchase, even where house prices have stabilized.
Table: Months of Salary Needed to Buy a House (2025)
| Country | Median House Price (€) | Median Net Salary (€/month) | Months of Salary Needed |
|---|---|---|---|
| Czech Republic | 255,000 | 1,600 | 159 |
| Slovakia | 215,000 | 1,350 | 159 |
| Hungary | 155,000 | 1,210 | 128 |
| Serbia | 120,000 | 650 | 185 |
| Germany | 320,000 | 3,320 | 96 |
| France | 310,000 | 2,740 | 113 |
| United Kingdom | 325,000 | 2,900 | 97 |
| Spain | 180,000 | 2,020 | 89 |
| Poland | 135,000 | 1,540 | 88 |
| Greece | 95,000 | 1,150 | 83 |
| Italy | 162,000 | 2,050 | 79 |
| Belgium | 210,000 | 2,750 | 76 |
| Netherlands | 290,000 | 3,820 | 76 |
| Ireland | 240,000 | 3,450 | 70 |
| Norway | 290,000 | 3,600 | 81 |
| Denmark | 240,000 | 4,050 | 59 |
| Amsterdam (Capital) | 520,000 | 3,100 | 174 |
| Prague (Capital) | 290,000 | 2,100 | 138 |
| Rome (Capital) | 270,000 | 2,350 | 81 |
| Oslo (Capital) | 340,000 | 4,150 | 82 |
Conclusion
Across Europe, the dream of homeownership remains attainable in some regions and increasingly distant in others. Denmark, Norway, and parts of Southern Europe offer relatively easier paths to buying a home. Meanwhile, Central and Eastern European countries, especially the Czech Republic and Slovakia, face major affordability challenges. Rising wages and moderated housing prices could improve conditions in the coming years, but for now, in many European cities, it still takes a decade or more of salary to afford a home.
