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Only 5 European capitals beat Warsaw in apartment prices
2012-10-18 13:36

Taking into consideration correlation between prices for apartments and people’s income – London is the most expensive European capital. An average annual salary in Britain’s capital is enough for buying only 2 square meters of high level apartments in the city centre.
Dublin, Berlin and Copenhagen follow the race and can offer more than 10 square meters per an annual average salary. Poland is in bottom part of this list; despite the general reduction in prices for real estate in the city centre of Warsaw the prices are still high.

 In order to check how many square meters an average person could afford two years ago, a home broker had to check their income after paying the taxes and prices for apartments in the city centre. There were a lot of changes, but Poland still remains of the most expensive countries. The fact, that Poland is listed in the bottom means that the prices there are still very high in comparison to income.
Eurostat statistics office has been used as the data source. The data from 2011 is available for most of the countries. (the previous calculation has been based on information from 2008). The cost of real estate is based on the data from Global Property Guide portal, which is used for monitoring the prices of 120 square meter used apartments in the city centre in European capitals. Since the salaries in capitals are usually higher than in other parts of the country, we added 20% extra to the average salary in Poland.

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