Higher Rental Prices in Europe for All Student Accommodation Types

Rents for all student accommodation types, including apartments, private rooms, and studios in European countries, are increasing rapidly since last year, data from the accommodation marketplace HousingAnywhere have revealed.

According to data, a considerable annual increase has been noted compared to the fourth quarter of a year earlier prices. A significant increase of nearly 40 percent has been reported for apartments in Berlin, compared to the fourth quarter of 2020, Erudera.com reports.

“Cities are competing for talent, while talents are competing for housing,” CEO of HousingAnywhere, Djordy Seelmann said.

Seelmann said that the matter urges municipalities, universities, property developers, and technology providers to collaborate in finding short-term and long-term solutions for the housing crisis in Europe.

“We should be prioritising co-creation and cooperation, as global talents are postponing or even cancelling their international education and career plans because they cannot find proper housing,” Seelmann added.

According to HousingAnywhere, the average rental price in different European cities is as follows:

• Paris – €1,964
• London – €1,850
• Amsterdam – €1,641
• Helsinki – €1,481
• Utrecht – €1,445
• Berlin – €1,393
• Rotterdam – €1,386
• Milan – €1,306
• The Hague – €1,295
• Munich – €1,289

Data indicate that the top cities which experienced a sharp increase in prices are the same as in the previous quarter.   

Berlin apartment prices have increased by 39.47 percent, followed by Hamburg with 21.30 percent, Reykjavík with 20.43 percent year-on-year increase, Vienna with 16.74 percent increase, and Milan apartment prices increasing by 14.45 percent.

HousingAnywhere report points out that Paris, London, Amsterdam, and Utrecht dominate the top spots for the rental price of all property types. Paris dominates as the most expensive city, with apartment rent price reaching €1963.57 while private rooms standing at €786.94, followed by London having the most expensive rent for studios (€1210.68), apartments (€1850.18) and private rooms (€710.87).

As per students living in Spanish cities, those in Barcelona may also be struggling with rent, as apartment prices in the city have increased by 5.98 percent and private rooms by 4.98 percent. Meanwhile, in Madrid, the rent of studios has increased the most, by 5.1 percent.

“Quarterly increase on all property types in the Netherlands slows down, while the market is anticipating municipal-level policy changes. However, the YoY increase of the studio rent of Amsterdam and Utrecht are very prominent, with Amsterdam recording the first position (21.62%) and Utrecht, the third (18.80%),”  the report reads.

Seelmann said that the European rental market needs a stronger long-term vision in achieving housing availability, accessibility, and affordability.

Europeans have been struggling with the housing crisis even before the COVID-19 broke out, spending over 40 percent of their money on housing.