Ever-increasing travel costs. The lure of a takeaway at the end of (another) long day. Drinks with friends, colleagues, clients... Living in London, particularly as a young person not earning very much, can be a struggle. We've heard a lot recently about the possibility of Brexit bringing down the cost of London property, but the fact remains: living in the capital comes at a premium.
So while new research about the cost of renting across Europe may not necessarily shock you, it might make you seriously consider upping sticks (if you haven't already), or think twice before moving to the Big Smoke.
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London has just been named the most expensive European city in which to rent for the third year running, new figures from consultancy ECA International show. Renting a three-bedroom flat in prime areas of the city costs £5,398 a month on average, vastly more than the European average of £1,705, and four times more expensive than other popular cities around the country.
Other UK cities that made the list (albeit not the top 10) include Manchester, Edinburgh and Glasgow, which have seen some of the biggest rent increases recently because of greater demand.
Londoners who decide to flee the capital for a cheaper alternative city on the continent will want to steer clear of Moscow, Zurich and Geneva, as well as the tourist hotspots of Paris, Amsterdam and Stockholm, all of which were among the top 10 least affordable cities. This will come as no surprise if you've ever been on an impromptu mini break that turned out much pricier than you'd envisaged.
Interestingly, Dublin entered the top 10 for the first time, with the average three-bed property coming in at £2,688 a month. Still, the Irish capital remains a whole lot more affordable than London, although this could change because of Brexit, ECA International said.
“Although London rent for professionals still remains the most expensive in Europe, the decrease in value of the [pound] has caused London to drop a position in global terms, moving down to fifth, overtaken by Port Moresby in Papua New Guinea," said Alec Smith, accommodation services manager at the company.
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But don't even think about Hong Kong if you're looking beyond Europe for a new home. Rent there is the most expensive in the world for expats, at about £7,580. Ouch.
The most expensive European cities in which to rent a three-bedroom flat
1. London (£5,398)
2. Moscow (£4,126)
3. Zurich (£3,794)
4. Geneva (£3,698)
5. Istanbul (£3,208)
6. Kiev (£2,762)
7. Paris (£2,747)
8. Dublin (£2,688)
9. Amsterdam (£2,632)
10. Stockholm (£2,579)
2. Moscow (£4,126)
3. Zurich (£3,794)
4. Geneva (£3,698)
5. Istanbul (£3,208)
6. Kiev (£2,762)
7. Paris (£2,747)
8. Dublin (£2,688)
9. Amsterdam (£2,632)
10. Stockholm (£2,579)
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