Ukrainians were shown how many years one needs to work to buy an apartment in different European countries, in Israel – 10.2 years

Ukrainian refugees who have found refuge in various European countries are gradually adapting to their new life abroad. Many of them are considering long-term residence and thinking about purchasing their own housing. However, they have encountered serious financial difficulties due to the real situation on the European real estate market.

According to the Property Index 2024 study conducted by Deloitte, housing affordability varies significantly across Europe. In the Czech Republic, for example, to buy a standard 70 square metre apartment, you would have to save your full salary for 13.3 years.

Miroslav Linhart of Deloitte notes that the Czech Republic has long been ranked last in housing affordability, and there are no signs of this changing. Prague, the capital of the Czech Republic, remains one of the most expensive cities in Europe to buy a home, with the equivalent of 13.5 annual salaries.

In other European countries, the situation is somewhat better, but still tense. For example, it will take 12.7 years to buy a home in Slovakia, 10.2 years in Ireland, Hungary and Israel. The most affordable housing was in Poland (7.9 years), the Netherlands and the UK (7.2 years).

The situation is much better in Scandinavian countries: in Norway it will take 4.8 years to buy an apartment, and in Denmark – 4.7 years. However, it is worth remembering that these figures assume that a person saves his entire salary, which is hardly realistic.

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