The housing problem is yet another “reward” of the Mitsotakis administration, with rents reaching unimaginable heights causing “headaches” for hundreds of thousands of citizens.
The facts that have been valid in Greece in recent years are confirmed by the Economist’s new research concerning 35 European cities. Using the ‘Carrie Bradshaw’ index as a measure of unaffordability (which states that a person should spend no more than 30% of their income on rent), the Economist calculated the salary needed to secure the average apartment of one bedroom in each city.
The Economist’s list compares the recommended renter salary to the average salary in each city, using data from the ERI Institute for Economic Research, a salary aggregator. The higher the score, the more affordable a one-bedroom apartment is for one person to rent.
Rents: The Economist’s List
My expensive rent…
Based on the index used by the Economist, Athens is the 12th most expensive city in the list of 35. The capital of Greece surpasses cities such as Madrid, Munich, Paris, Rome, Berlin, Vienna, Brussels and Karlsruhe .
Conversely, worse off than Athens in terms of rents are Budapest (topping the list), Prague, Lisbon, London and Stockholm, among others.
According to the Economist, some of the most affordable cities are in Germany, such as Bonn, where the average salary of €49,000 per year exceeds the €31,400 required to rent.
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