How Much Does It Cost To Rent A 1-room Flat? Comparison Of 38 European Cities

The prices of renting a 1-room flat in Europe vary a lot. A monthly rent without additional fees ranges from EUR 186 to EUR 2,139. The British Isles are the most expensive, while the Balkans is the cheapest. The rate depends not only on the city, but also on the location of the flat within a city.

An analysis by rankomat.pl pertains to average prices for monthly rent for a 1-room flat in 38 European capitals. The presented prices come from numbeo.com and relate to flats inside and outside the city centre in each city. The ranking does not include other costs (water, electricity, Internet), and prices are expressed in EUR for the sake of convenience.

The most expensive single-room flats in a city centre can be found in London and Dublin

A flat for 1 person in the centre of a European capital city costs the most on the British Isles. In London, it is a monthly cost of EUR 2,139, while in Dublin only a little less, i.e. EUR 1,893.

Also expensive is Amsterdam, Copenhagen and Reykjavik; there, however, monthly rent is about EUR 1,500 without utility charges.

We will spend definitely the least on the rent of a 1-room flat in the centre of one of the Balkan countries, although they are not necessarily popular among those looking for a new place to stay: Sarajevo, Pristina, and Skopje. The prices here range between EUR 273 and EUR 293 a month. In Chisinau, you can pay less than EUR 300 for a month’s rent of a 1-room flat.

Average monthly rent without utilities.
Prices as at 13 September 2022 based on numbeo.com.

Rent almost twice cheaper outside city centres

Among the 38 European capitals, rent for a 1-room flat outside the city centre costs the most in the British Isles and the least in the Balkans.

This time, however, it is Dublin (EUR 1,603) that is the most expensive, and Sarajevo (EUR 186) the least expensive.

When comparing percentage difference between the costs of renting a 1-room flat inside and outside the city centre, it turns out that prices outside the city centre are cheaper by 15% in Dublin, but by as much as 31% in Sarajevo. In Moscow, the difference is 42%.

Average monthly rent without utilities.
Prices as at 13 September 2022 based on numbeo.com.

How quickly are the prices of rent of a 1-room flat rising? Example of Poland

In Poland, the highest rates for the rent of 1-room flat are actually not in Warsaw. The most expensive 1-room flats can be found at the seaside, in Gdańsk, costing PLN 2,577 on average. EUR 2,551 in Warsaw, and EUR 2,371 in Wrocław, per month.

The differences in the price of rent of a 1-room flat in Poland’s largest cities are significant. In the city of Bydgoszcz, which is the least expensive in the ranking, it is currently a cost of PLN 1,480 a month, i.e. over PLN 1,000 less than in Gdańsk.

Today, the prices of renting a 1-room flat are over 40% higher than last year. Such is the case in Gdańsk, Cracow and Wrocław. The smallest year-on-year increase is seen in Szczecin (+22.7%) and Lublin (25.2%).

‘Such high price changes on the apartment rental market can be explained by a number of factors. One of the causes of rising rates is the war between Russia and Ukraine. An inflow of refugees has increased demand for flats; on top of that, there is inflation, which in turn increases prices in many sectors of economy,’ says Michał Ratajczak, expert from rankomat.pl.

Average asking prices of rent of a flat up to 38 m2 based on bankier.pl.

Best insure a 1-room flat for rent using 2 policies

Renting a flat out to other tenants is a chance for many owners to maintain a stable source of income. For the other side of the rent, i.e. for tenants, such solution means living free from obligations towards bank on account of mortgage. The disadvantage is that monthly rate is often higher than a mortgage instalment; the advantage – mobility and freedom of changing location depending on the place of work and other factors.

Both the tenant and the landlord need to remember that careless use of real estate may easily lead to financial trouble, in case of a fire, flooding or burglary in the apartment.

The solution is a home insurance policy, or, even better, two policies. The tenant or the landlord should insure the walls and fixed elements of the 1-room flat against random accidents. If the flat is located on the ground floor, then also against flooding; if higher, it is a good idea to go for third party liability insurance in case of flooding the neighbours below.

The tenant should most of all insure their own home movables (electronic appliances, valuables, sport equipment) against random events and theft. With two separate insurance policies with a properly selected scope of coverage, you can avoid misunderstandings in case of any loss in the flat. The owner does not have to worry about the property, and the tenant protects their own items. The cost of each insurance policy starts from about PLN 100 a year.

Tags: city, city center, flat, landlord, rent, tenant