A recent study by BestBookers.com sheds light on the affordability of housing across European nations, revealing significant disparities in the number of salaries required to purchase a home. Denmark emerges as the most affordable country for housing in Europe, with an average 100-square-meter apartment costing approximately 114 net monthly salaries. This translates to less than 10 years of savings, positioning Denmark as a leader in housing affordability, Euronews reports.
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| A paper house held by a human hand over a field of grass, and a couple with two children representing the family holding hands, all done in paper |
Affordability in the Balkans and Neighboring Countries
Within the Balkan region, North Macedonia fares relatively better than Greece. A worker earning an average wage in North Macedonia would need 215 salaries—or around 18 years—to purchase a home. In Greece, this figure rises to 228 salaries, equating to about 19 years of savings. Other countries in the region, such as Bosnia and Herzegovina and Montenegro, demand over 20 years of savings for a similar property. Slovenia also ranks among the more expensive nations in the area.
Housing Affordability in Albania
Although Albania was not included in the study, local data from INSTAT highlights the stark reality faced by Albanian citizens. The minimum wage in Albania is 40,000 ALL, while the average cost per square meter of housing ranges from over 60,000 ALL in regional areas to over 120,000 ALL in Tirana. In the capital, a 100-square-meter apartment averages 125,000 euros. This means that an individual earning the minimum wage would need to save 312 monthly salaries—or more than 25 years—to afford a home.
These calculations exclude essential living expenses such as food, clothing, and healthcare, rendering the analysis more theoretical than practical. Nevertheless, they underscore the significant economic challenges faced by Albanian citizens in securing housing and the substantial gap in income levels across Europe.
A Widening Economic Divide
The findings highlight not only the differences in housing affordability across Europe but also the broader economic disparities that persist within the continent. While citizens in countries like Denmark can achieve homeownership within a decade, those in regions such as Albania and parts of Eastern Europe face decades of financial strain to secure a similar property. This economic divide reflects broader challenges that European policymakers must address to ensure equitable living standards across the region.