Rental Market State of Play: March 2022

Spring has sprung across Europe and the rental market continues to show the green shoots of post-pandemic recovery. While month-on-month values are broadly stable, annual rental values are on course to match or even exceed those last seen early in 2020.

Klippa Relocation rounds up March’s rental news from across London, Amsterdam and Paris, and combines it with the latest average rental price*.

Limehouse, London at sunset
Limehouse, London

London Rental Market Latest

If there was a script, London’s rental values are not reading from it. While agents are
overwhelmed with new tenant registrations, HomeLet’s latest data revealed that the capital’s
average monthly rental price actually decreased by 0.2% in the last four weeks. Having said
that, the increase in annual rental growth is astonishing. London’s average rent currently stands
at £1,757 per month – 11.8% higher than at the same point in 2021. Further research by Rentd
concurred with London’s wider, long-term post-pandemic rental recovery. The portal found
annual rents had increased in almost half of London’s boroughs, while demand had improved in
every single local authority.

Average Monthly Rents in London

The last four weeks have seen rents in England’s capital roughly stay the same when compared
to February 2022. The average one-bedroom city centre apartment is now €21 more expensive
to rent, at €2,104.70 per month. In contrast, the cost of renting three bedrooms in
London’s city centre has dropped for the second month in a row, now at an average of
€4,049.17 per month. Renters looking for a one-bedroom property outside of London will save
themselves €1 a month, with a new average of €1,555.03, while the cost of renting three
bedrooms in London’s outskirts has risen to €2,570.62.

Amsterdam, Netherlands
Amsterdam, Netherlands

Amsterdam Rental Market Latest

The city is bracing itself for an influx of professional relocators thanks to the Dutch Government
relaxing Covid-19 rules for travellers. As of 23rd March 2022, non-EU citizens will no longer need
to present a negative Covid-19 test order to enter the country. In addition, EU citizens travelling
back to the Netherlands will not have to show a coronavirus certificate, and travellers from
within the EU no longer need to present proof of vaccination, recovery, or a negative test.
Also of note is the recent Amsterdam election result, which paves the way for a new left-
leaning coalition. Manifestos of those now sharing power (PvdA, GroenLinks and D66)
contain support for rent controls and financial incentives for older people to downsize from
larger properties.

Average Monthly Rents in Amsterdam

Rent in Amsterdam is, on average, 25.53% lower than London and in the past four weeks,
values have remained relatively stable. Renting a one-bedroom apartment in Amsterdam’s city
centre costs an average of €1,573.25 per month, while a three-bedroom property in the heart
of the city now costs €2,728.89 per month. Value for money continues to be found outside of
the centre. A one-bedroom apartment on the city’s fringes currently costs €1,258.11 per month
to rent, while an outlying three-bedroom property attracts a monthly rent of €2,023.33.

Paris, France, cityscape of property
Paris, France

Paris Rental Market Latest

Business travel and commutability between the UK, Paris and the rest of Europe could be set
for a huge boost, following an announcement from the Channel Tunnel’s owner, Getlink. It
revealed plans to buy a fleet of trains capable of running on its line to rent out to operators
other than Eurostar. One party who is in advanced talks with Getlink is Renfe – Spain’s national
train operator – with direct trains between London and Barcelona a possibility. Other rival
operators have floated the idea of an Edinburgh to Paris sleeper train, while Milan and Rome
could be connected to London via France’s capital city.

Average Monthly Rents in Paris

The latest report from the Economist Intelligence Unit rates Paris as the second-most costly city
to live in along with Singapore, so it comes as no surprise that rents for one-, two-, three- and
four-bedroom properties in the city are the most expensive in the country – and largely forecast
to continue to rise.

Renting a one-bedroom apartment in Paris city centre costs an average of €1,292.53 per month,
rising to €2,750.92 per month for a three-bedroom apartment. More affordable rental bills
continue outside of Paris’s city centre. A one-bedroom apartment in an outlying city position
costs an average of €918.07 per month, while expect to pay €1,820.65 per month for three
bedrooms away from the centre.

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, March 24th 2022

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