New research by international rental marketplace, Spotahome, ranks the affordability of European capital cities. The rankings were calculated using the average net salary available in the capital, as well as the average cost of renting a one-bedroom apartment.
Surprisingly, a number of cities ranked higher than London for relative rental unaffordability, namely Lisbon, Valletta and Dublin. Although the average rent in Lisbon is currently £799 per month, the average net, monthly salary is just £988. This means that the city’s dwellers are spending a massive 80.9% of their salary in rent, making it the most expensive capital across the UK and EU for renting.
Full story available from Property Industry Eye: https://propertyindustryeye.com/warning-that-letting-agents-could-face-prosecution-in-coronavirus-crisis/
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