Top 10 Most Expensive European Cities for Buying an Apartment in 2026

The cost of purchasing an apartment in Europe’s city centers varies dramatically, with Swiss cities leading the rankings in 2026, according to a new report by Deutsche Bank Research Institute. The study, titled "Mapping the World’s Prices 2026," analyzes price per square meter across 69 global cities, including 28 in Europe, highlighting stark disparities in real estate affordability.

Zurich and Geneva top the European list, with apartment prices reaching €22,910 and €19,439 per square meter, respectively. For an 80-square-meter apartment, this translates to approximately €1.83 million in Zurich and €1.56 million in Geneva. London follows in third place at €17,241 per square meter, making it 35 percent more expensive than Paris, where the price stands at €12,771 per square meter. Vienna rounds out the top five at €12,483 per square meter.

Only two of Europe’s largest economies—France and the United Kingdom—have capital cities in the top five. Munich, Germany’s most expensive city for real estate, ranks sixth at €11,435 per square meter. Luxembourg (€11,011), Copenhagen (€10,191), Stockholm (€10,037), and Oslo (€9,785) also feature in the top 10. Nordic cities dominate the upper rankings, with Helsinki (€8,431) placing 13th.

Southern and Eastern European cities present a stark contrast. Prague (€8,352) is more expensive than Madrid (€7,831) and Berlin (€7,613), while Rome stands at €7,328 per square meter. Dublin (€7,185) and Frankfurt (€7,162) also exceed €7,000 per square meter, whereas Lisbon (€6,636) and Barcelona (€6,485) are slightly lower. At the more affordable end, Istanbul (€2,646) and Athens (€3,442) rank as the cheapest European cities, followed by Brussels (€4,380), the European Union’s capital.

The report’s average price per square meter across the 28 European cities is €9,090, meaning an 80-square-meter apartment would cost around €727,000 on average. Only four cities exceed the €1 million threshold for such an apartment: Zurich, Geneva, London, and Hong Kong, which tops the global rankings at €23,790 per square meter. Cairo (€784) and Johannesburg (€913) are the least expensive globally.

Data for the report was compiled from Numbeo and Deutsche Bank, with prices converted to euros using the European Central Bank’s average exchange rates for the first half of 2026.

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