A study has ranked cities across Europe based on how affordable they are for first-time buyers, with Bucharest taking the top spot for the cheapest city to buy a home.
For those flexible first-time buyers in regards to location, it’s important for prospective buyers to be savvier with their budgets and find the most affordable options.
Top 10 cheapest cities in Europe to buy a house:
| City | Country | Average House Price | Deposit Amount 20% | House Price Minus Deposit | |
| 1 | Bucharest | Romania | £35,831 | £7,166 | £28,665 |
| 2 | Riga | Latvia | £46,316 | £9,263 | £37,053 |
| 3 | Budapest | Hungary | £86,262 | £17,252 | £69,009 |
| 4 | Madrid | Spain | £87,313 | £17,463 | £69,851 |
| 5 | Vienna | Austria | £130,480 | £26,096 | £104,384 |
| 6 | Belgrade | Serbia | £147,315 | £29,463 | £117,852 |
| 7 | Krakow | Poland | £164,633 | £32,927 | £131,706 |
| 8 | Warsaw | Poland | £165,992 | £33,198 | £132,794 |
| 9 | Liverpool | United Kingdom | £202,179 | £40,436 | £161,743 |
| 10 | Prague | Czech Republic | £221,176 | £44,235 | £176,941 |
Bucharest leads the way as the cheapest city in Europe to buy a home, with the average house price costing a budget-friendly £35,831 (€42,075.69). A 20% deposit will also be a modest £7,166 (€8,412.58), a much more affordable amount for first-time buyers than in some of its neighbouring European cities.
Madrid has been crowned the best city in Europe for first-time buyers with a score of 100.4/150, while Vienna and Bucharest take second and third positions in the report, with scores of 96/150 and 94.2/150, respectively.
Bucharest also tops the table as the most affordable city for broadband, at an average £7.20 a month.
On the other hand, Paris is the most expensive city for first-time buyers to acquire property, with the average property costing £838,634. Paris has been crowned the best European city for social and cultural offerings outside of work, with a lifestyle score of 41.8/5
Madrid emerges as the most affordable European city to secure a mortgage, with solo first-time buyers in Madrid paying up to 22.50% of their monthly salary towards their mortgage, while a two-person household with two paychecks will pay 11.25% each.