Do you think a million euros is enough for a dream apartment?
An analysis of European data reveals how many average salaries are needed to purchase a property worth one million euros. Slovenia is somewhere in the middle, but differences between countries are enormous. According to data from Eurostat and Euronews Business, in no EU country is the average salary sufficient to cover mortgage payments for such a property. The calculation is based on a typical scenario where a buyer contributes 20% down payment (€200,000), finances the remaining €800,000 with a 30-year fixed-rate mortgage at 3.5%, resulting in monthly payments of approximately €3,592. This amount would represent one-third of income for someone earning around €10,886 gross per month or over €130,000 annually. Bulgaria requires the highest number of average salaries, 7.8, to afford such a home, while Luxembourg needs just 1.6. Slovenia requires approximately 3.7 average salaries, placing it in the middle of the European scale. Even two average salaries often aren’t enough in most countries, except Luxembourg. In major European cities like Paris, London, Munich, or Amsterdam, one million euros might buy only an average city apartment, highlighting the growing challenge of housing costs
A sharp rise in housing costs has placed millions of European citizens under financial strain, according to data released by Eurostat. In 2025, 7.7 percent of households across the European Union spent more than 40 percent of their disposable income on housing expenses. These costs include rent or mortgage payments, energy bills, utility services, regular maintenance, and other charges tied to living arrangements. The burden varies significantly across member states, with Greece reporting the highest proportion, 26.4 percent, of households facing such excessive housing costs, followed by Denmark at 23.4 percent and Germany at 11.2 percent. At the lower end of the spectrum, Cyprus recorded just 2.4 percent, Croatia 3.2 percent, and Slovenia and Slovakia both at 3.5 percent. The affordability crisis extends beyond mere statistics, revealing stark disparities in how individuals manage their finances. In Slovenia, young families typically move out of their parents' homes at an average age of 29.1 years, which is higher than the EU-wide average of 26.5 years. This delay suggests a growing challenge in securing independent housing, particularly among younger generations. Meanwhile, the cost of purchasing even a modest property worth one million euros remains out of reach for many. According to an analysis by Euronews Business, this amount would require a significant portion of a household’s income, making homeownership a distant dream for the average worker. In Bulgaria, for instance, financing such a purchase would necessitate nearly eight times the average monthly salary. Greece follows closely with seven-and-a-half times the average wage, while Hungary requires six-and-seven-tenths times the average salary. Slovakia comes in slightly better, requiring around six-and-three-tenths times the average salary. By contrast, Luxembourg offers the most favorable conditions, where a single average salary could cover the monthly payment for a one-million-euro home. Germany, France, Spain, and Italy all fall within a range of two to four times the average salary, highlighting the wide economic gap in housing accessibility. In Slovenia, the situation is somewhat more manageable, though still challenging. Purchasing a one-million-euro property would require approximately three-and-seven-tenths times the average monthly salary. This means that for the typical worker, owning such a home remains a long-term aspiration. For comparison, in Croatia, the required multiple is five-and-two-tenths times the average salary, indicating that Slovenians have a slight edge in terms of affordability, albeit still far from being able to achieve this goal. Even for dual-income households, the financial hurdle remains formidable. While Luxembourg stands alone in the EU as a country where a couple earning two average salaries can comfortably afford a one-million-euro home, most other nations fail to meet this benchmark. In many countries, even double the average salary proves insufficient to secure a mortgage for such a property. This trend underscores a persistent imbalance between rising housing prices and stagnant or slow-growing wages, creating a major obstacle for potential homeowners. The implications of these trends extend beyond individual households. As urban centers become increasingly expensive, the question arises whether future generations will ever be able to afford housing in larger cities. In some parts of Paris, London, Munich, or Amsterdam, a million euros might simply cover a standard apartment in a desirable location. This shift challenges traditional notions of wealth and lifestyle, forcing Europeans to reconsider their expectations regarding homeownership. The disparity between housing costs and income growth continues to represent one of the most pressing issues in European housing policy.
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