The first month of a new year is always a good time to take stock of rental trends in Europe’s leading cities. As well as retrospective data from the previous 12 months, there is also a slew of forecasts and predictions for the year ahead. Klippa Relocation rounds up January’s rental market news from across London, Amsterdam and Paris and combines them with the latest average rental price. *
London Rental Market Latest
Although the pandemic saw a mini exodus from England’s capital city, agents across London are unanimous about momentum returning to London’s rental market. In fact, tenant demand is beginning to outstrip supply, with a sharp drop in available rental stock. The positive picture has been fuelled by the easing of travel restrictions and more companies planning to recall staff to central offices. Although London’s average rent between November and December 2021 dropped 0.3%, HomeLet’s data reveals ‘per month’ rents were 12.6% higher in December 2021 when compared to the same month in 2020.
Average Monthly Rents in London
Often touted as the world’s most expensive city to rent a property, relocators should keep close tabs on rental values in London. The most central neighbourhoods come at a price. In January 2022, tenants can expect to pay €2,084.17 for a one-bedroom city centre apartment, with three bedrooms advertised at an average of €4,186.96. There’s better value outside of London’s centre, with average monthly rents of €1,546.30 for a one-bedroom apartment, rising to €2,566.40 for three bedrooms on the city outskirts.
Amsterdam Rental Market Latest
The Dutch capital was recently crowned Europe’s third most expensive capital city to rent in by rental site HousingAnywhere. In a move to quell the monopolisation of the city by landlords, the Dutch Government introduced a new law in January 2022, stating the legal owner of any new property bought in Amsterdam for less than €512,000 must live in it for at least four years. Many letting agents fear this may have a negative impact on the supply of new rentals and force rents up even further.
Average Monthly Rents in Amsterdam
Amsterdam remains a pricey place in which to rent a property, and relocators should arm themselves with a minimum budget of €1,000. Those wishing to live in Amsterdam’s city centre will pay an average monthly rent of €1,545.45 for a one-bedroom apartment, with three bedrooms in the city centre costing an average of €2,718.44. A more modest spend can be achieved away from the capital’s heart. A one-bedroom apartment outside of the city centre commands an average monthly rent of €1,264.86, while three bedrooms can be secured for €2,025.94.
Paris Rental Market Latest
In 2021, French property professionals started correlating the lack of tourists in its major cities with the availability of furnished properties to rent. As a result of fewer visitors, rents started decreasing – as much as 14%, suggested real estate advertising site, SeLoger. A correction may be on the horizon, however. Rental predictions for the start of 2022 forecast a hike in rental prices due to France’s rising consumer price inflation.
Average Monthly Rents in Paris
The latest figures show there is a marked difference between renting inside the centre of Paris compared to a less central city neighbourhood. A one-bedroom apartment in Paris city centre will cost an average of €1,256.88 per month, rising to €2,685.52 per month for a three-bedroom apartment. The rent can be significantly reduced by living outside of Paris’s city centre. Rents per month for a one-bedroom apartment outside of the centre average €892.95, and you can expect to pay €1,807.39 for three bedrooms.
Need to Secure a Property?
Klippa Relocation has established agents working across London, Amsterdam and Paris. We have enviable relationships with each city’s leading real estate agents and property finders, so please get in touch if you need help with the local rental market.
* Average monthly rental figures, expressed in Euros & taken from Numbeo, January 14th 2022