How do property prices in the UK compare to those of the rest of the world? We estimated the average cost of a city-centre 2-bed flat in 98 countries to find out.
The global average cost of a 2-bedroom flat is £176,000. The UK was the 15th most expensive place to buy a property, with an average price for a 2-bedroom flat at £287,000. This is 64% higher than the global average across all countries analysed.
1. Hong Kong: £1,310,000
2. Singapore: £992,000
3. Switzerland: £769,000
4. South Korea: £540,000
5. Luxembourg: £509,000
1. Cuba: £18,000
2. Venezuela: £26,000
3. Pakistan: £29,000
4. Egypt: £29,000
5. Libya: £34,000
| Number | Country | Average price of a flat | Compared to global average |
|---|---|---|---|
| 1 | Hong Kong | £1,310,000 | 644% |
| 2 | Singapore | £992,000 | 464% |
| 3 | Switzerland | £769,000 | 337% |
| 4 | South Korea | £540,000 | 207% |
| 5 | Luxembourg | £509,000 | 189% |
| 6 | Taiwan | £401,000 | 128% |
| 7 | Israel | £386,000 | 119% |
| 8 | China | £340,000 | 93% |
| 9 | Austria | £330,000 | 88% |
| 10 | Australia | £323,000 | 84% |
| 11 | Canada | £322,000 | 83% |
| 12 | Norway | £305,000 | 73% |
| 13 | Japan | £302,000 | 72% |
| 14 | France | £295,000 | 68% |
| 15 | United Kingdom | £287,000 | 63% |
| 16 | Germany | £283,000 | 61% |
| 17 | Netherlands | £283,000 | 61% |
| 18 | United Arab Emirates | £262,000 | 49% |
| 19 | Finland | £261,000 | 48% |
| 20 | Denmark | £256,000 | 45% |
| 21 | New Zealand | £255,000 | 45% |
| 22 | Sweden | £238,000 | 35% |
| 23 | Kuwait | £235,000 | 34% |
| 24 | Qatar | £230,000 | 31% |
| 25 | Czech Republic | £218,000 | 24% |
| 26 | Ireland | £208,000 | 18% |
| 27 | Lithuania | £191,000 | 9% |
| 28 | Estonia | £191,000 | 9% |
| 29 | Italy | £185,000 | 5% |
| 30 | Malta | £182,000 | 3% |
| 31 | Slovakia | £182,000 | 3% |
| 32 | Belgium | £181,000 | 3% |
| 33 | Croatia | £181,000 | 3% |
| 34 | Thailand | £181,000 | 3% |
| 35 | Spain | £179,000 | 2% |
| 36 | Poland | £175,000 | -1% |
| 37 | Portugal | £173,000 | -2% |
| 38 | Armenia | £165,000 | -6% |
| 39 | United States | £164,000 | -7% |
| 40 | Cyprus | £153,000 | -13% |
| 41 | Serbia | £149,000 | -15% |
| 42 | Hungary | £140,000 | -20% |
| 43 | Vietnam | £135,000 | -23% |
| 44 | Greece | £133,000 | -24% |
| 45 | Uruguay | £123,000 | -30% |
| 46 | Bahrain | £119,000 | -32% |
| 47 | Latvia | £118,000 | -33% |
| 48 | Montenegro | £115,000 | -35% |
| 49 | Albania | £112,000 | -36% |
| 50 | Costa Rica | £110,000 | -38% |
| 51 | Bulgaria | £104,000 | -41% |
| 52 | Philippines | £104,000 | -41% |
| 53 | Argentina | £103,000 | -41% |
| 54 | Panama | £103,000 | -41% |
| 55 | Romania | £103,000 | -41% |
| 56 | Chile | £101,000 | -43% |
| 57 | Bosnia And Herzegovina | £98,000 | -44% |
| 58 | El Salvador | £95,000 | -46% |
| 59 | Malaysia | £95,000 | -46% |
| 60 | Sri Lanka | £92,000 | -48% |
| 61 | Turkey | £91,000 | -48% |
| 62 | Russia | £87,000 | -51% |
| 63 | Azerbaijan | £86,000 | -51% |
| 64 | Nepal | £86,000 | -51% |
| 65 | Mexico | £84,000 | -52% |
| 66 | Peru | £84,000 | -52% |
| 67 | North Macedonia | £83,000 | -53% |
| 68 | India | £83,000 | -53% |
| 69 | Moldova | £80,000 | -55% |
| 70 | Saudi Arabia | £77,000 | -56% |
| 71 | Belarus | £77,000 | -56% |
| 72 | Oman | £72,000 | -59% |
| 73 | Georgia | £71,000 | -60% |
| 74 | Brazil | £70,000 | -60% |
| 75 | Uzbekistan | £70,000 | -60% |
| 76 | Ukraine | £68,000 | -61% |
| 77 | Kazakhstan | £66,000 | -63% |
| 78 | Morocco | £65,000 | -63% |
| 79 | Iran | £63,000 | -64% |
| 80 | Indonesia | £62,000 | -65% |
| 81 | Kenya | £62,000 | -65% |
| 82 | Colombia | £62,000 | -65% |
| 83 | Algeria | £59,000 | -66% |
| 84 | Ecuador | £58,000 | -67% |
| 85 | Mauritius | £54,000 | -69% |
| 86 | Bolivia | £54,000 | -69% |
| 87 | Iraq | £53,000 | -70% |
| 88 | Jordan | £51,000 | -71% |
| 89 | South Africa | £47,000 | -73% |
| 90 | Palestine | £47,000 | -73% |
| 91 | Nigeria | £47,000 | -73% |
| 92 | Tunisia | £44,000 | -75% |
| 93 | Bangladesh | £35,000 | -80% |
| 94 | Libya | £34,000 | -81% |
| 95 | Egypt | £29,000 | -84% |
| 96 | Pakistan | £29,000 | -84% |
| 97 | Venezuela | £26,000 | -85% |
| 98 | Cuba | £18,000 | -90% |
Hong Kong was found to be the most expensive country to buy property, with a 2-bed flat costing an eye-watering £1.3 million – 7 times the global average. Hong Kong was the only country where a city centre flat would cost you more than £1 million on average.
On the other end of the spectrum, the cheapest place to buy a property was Cuba, where a 2-bedroom flat of the same size would cost you just £18,000. This is 90% less than the global average, and for comparison, you could buy over 70 flats in Cuba for the price of just 1 flat in Hong Kong!
Wherever you decide to live, you’ll need some help choosing the best mortgage for you.
Hong Kong is also the most expensive city in the world to buy a property, with an average price of £1.3 million. This is followed by Zurich, Switzerland, with an average price of almost £1.2 million, and Singapore, with an average price of £992,000.
London was the 7th most expensive city in the world to buy a flat, with an average cost of £863,000. This figure is up from the average price for a London flat in 2023, which was £799,000.
| Number | City | Average price of a flat |
|---|---|---|
| 1 | Hong Kong, Hong Kong | £1,310,000 |
| 2 | Zurich, Switzerland | £1,182,000 |
| 3 | Singapore, Singapore | £992,000 |
| 4 | Seoul, South Korea | £916,000 |
| 5 | Geneva, Switzerland | £895,000 |
| 6 | New York, NY, United States | £886,000 |
| 7 | London, United Kingdom | £863,000 |
| 8 | Lausanne, Switzerland | £833,000 |
| 9 | Tel Aviv-Yafo, Israel | £818,000 |
| 10 | Shanghai, China | £738,000 |
The average cost of a 2-bed flat in Europe is £200,000. This is up 4% from £193,000 in 2023 and is 14% more than the global average of £176,000.
However, the cost of property varies significantly between European countries, with a flat in Switzerland, the most expensive country at £779,000, costing over 11 times more than the cheapest country, which is Ukraine at £67,000.
The UK is the 6th most expensive country in Europe to buy a 2-bedroom flat, and you’d be spending £87,000 more than the European average.
1. Switzerland: £779,000
2. Luxembourg: £509,000
3. Austria: £330,000
4. Norway: £305,000
5. France: £295,000
1. Ukraine: £67,000
2. Belarus: £77,000
3. Kosovo: £82,000
4. North Macedonia: £83,000
5. Russia: £87,000
Zurich is the most expensive city in Europe to buy property, with the average 2-bed flat costing almost £1.2 million. Geneva comes in as the second most expensive European city to buy property, with an average cost of £895,000.
In fact, 4 of the top 5 most expensive cities in Europe are in Switzerland – so you need a fair amount of money saved up if you’re considering buying a place here!
London is the only non-Swiss city in the top 5 – coming in as the third most expensive European city, with the average cost of a flat at £863,000. This is 260% more than the overall European average cost to buy a city centre flat.
1. Zurich, Switzerland: £1,182,000
2. Geneva, Switzerland: £895,000
3. London, United Kingdom: £863,000
4. Lausanne, Switzerland: £833,000
5. Bern, Switzerland: £631,000
1. Kharkiv, Ukraine: £52,000
2. Dnipro, Ukraine: £54,000
3. Chelyabinsk, Russia: £54,000
4. Rostov-on-Don, Russia: £59,000
5. Odessa, Ukraine: £60,000
Explore the table below to find out the cost of a flat around Europe and the world.
| Number | Country | Average price of a flat | Compared to global average |
|---|---|---|---|
| 1 | Hong Kong | £1,310,000 | 644% |
| 2 | Singapore | £992,000 | 464% |
| 3 | Switzerland | £769,000 | 337% |
| 4 | South Korea | £540,000 | 207% |
| 5 | Luxembourg | £509,000 | 189% |
| 6 | Taiwan | £401,000 | 128% |
| 7 | Israel | £386,000 | 119% |
| 8 | China | £340,000 | 93% |
| 9 | Austria | £330,000 | 88% |
| 10 | Australia | £323,000 | 84% |
| 11 | Canada | £322,000 | 83% |
| 12 | Norway | £305,000 | 73% |
| 13 | Japan | £302,000 | 72% |
| 14 | France | £295,000 | 68% |
| 15 | United Kingdom | £287,000 | 63% |
| 16 | Germany | £283,000 | 61% |
| 17 | Netherlands | £283,000 | 61% |
| 18 | United Arab Emirates | £262,000 | 49% |
| 19 | Finland | £261,000 | 48% |
| 20 | Denmark | £256,000 | 45% |
| 21 | New Zealand | £255,000 | 45% |
| 22 | Sweden | £238,000 | 35% |
| 23 | Kuwait | £235,000 | 34% |
| 24 | Qatar | £230,000 | 31% |
| 25 | Czech Republic | £218,000 | 24% |
| 26 | Ireland | £208,000 | 18% |
| 27 | Lithuania | £191,000 | 9% |
| 28 | Estonia | £191,000 | 9% |
| 29 | Italy | £185,000 | 5% |
| 30 | Malta | £182,000 | 3% |
| 31 | Slovakia | £182,000 | 3% |
| 32 | Belgium | £181,000 | 3% |
| 33 | Croatia | £181,000 | 3% |
| 34 | Thailand | £181,000 | 3% |
| 35 | Spain | £179,000 | 2% |
| 36 | Poland | £175,000 | -1% |
| 37 | Portugal | £173,000 | -2% |
| 38 | Armenia | £165,000 | -6% |
| 39 | United States | £164,000 | -7% |
| 40 | Cyprus | £153,000 | -13% |
| 41 | Serbia | £149,000 | -15% |
| 42 | Hungary | £140,000 | -20% |
| 43 | Vietnam | £135,000 | -23% |
| 44 | Greece | £133,000 | -24% |
| 45 | Uruguay | £123,000 | -30% |
| 46 | Bahrain | £119,000 | -32% |
| 47 | Latvia | £118,000 | -33% |
| 48 | Montenegro | £115,000 | -35% |
| 49 | Albania | £112,000 | -36% |
| 50 | Costa Rica | £110,000 | -38% |
| 51 | Bulgaria | £104,000 | -41% |
| 52 | Philippines | £104,000 | -41% |
| 53 | Argentina | £103,000 | -41% |
| 54 | Panama | £103,000 | -41% |
| 55 | Romania | £103,000 | -41% |
| 56 | Chile | £101,000 | -43% |
| 57 | Bosnia And Herzegovina | £98,000 | -44% |
| 58 | El Salvador | £95,000 | -46% |
| 59 | Malaysia | £95,000 | -46% |
| 60 | Sri Lanka | £92,000 | -48% |
| 61 | Turkey | £91,000 | -48% |
| 62 | Russia | £87,000 | -51% |
| 63 | Azerbaijan | £86,000 | -51% |
| 64 | Nepal | £86,000 | -51% |
| 65 | Mexico | £84,000 | -52% |
| 66 | Peru | £84,000 | -52% |
| 67 | North Macedonia | £83,000 | -53% |
| 68 | India | £83,000 | -53% |
| 69 | Moldova | £80,000 | -55% |
| 70 | Saudi Arabia | £77,000 | -56% |
| 71 | Belarus | £77,000 | -56% |
| 72 | Oman | £72,000 | -59% |
| 73 | Georgia | £71,000 | -60% |
| 74 | Brazil | £70,000 | -60% |
| 75 | Uzbekistan | £70,000 | -60% |
| 76 | Ukraine | £68,000 | -61% |
| 77 | Kazakhstan | £66,000 | -63% |
| 78 | Morocco | £65,000 | -63% |
| 79 | Iran | £63,000 | -64% |
| 80 | Indonesia | £62,000 | -65% |
| 81 | Kenya | £62,000 | -65% |
| 82 | Colombia | £62,000 | -65% |
| 83 | Algeria | £59,000 | -66% |
| 84 | Ecuador | £58,000 | -67% |
| 85 | Mauritius | £54,000 | -69% |
| 86 | Bolivia | £54,000 | -69% |
| 87 | Iraq | £53,000 | -70% |
| 88 | Jordan | £51,000 | -71% |
| 89 | South Africa | £47,000 | -73% |
| 90 | Palestine | £47,000 | -73% |
| 91 | Nigeria | £47,000 | -73% |
| 92 | Tunisia | £44,000 | -75% |
| 93 | Bangladesh | £35,000 | -80% |
| 94 | Libya | £34,000 | -81% |
| 95 | Egypt | £29,000 | -84% |
| 96 | Pakistan | £29,000 | -84% |
| 97 | Venezuela | £26,000 | -85% |
| 98 | Cuba | £18,000 | -90% |
The property price per square metre in each country and city was sourced from Numbeo. Only countries and cities with a full data sset available have been included. The median area of a 2-bed flat in the UK, according to a 2010 dwelling size survey, is 59.11 square metres. Therefore, each price per square metre was multiplied by 59.11 to get the cost of a 2-bed flat in each country.
Matt Mckenna
UK Head of Communications
T: +44 20 8191 8806
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