Surging property prices: When will Europe’s cities become affordable again?

While many still flock to Europe’s biggest cities, the ability to live within the financial means of that environment is growing ever thinner over time

Portugal’s monthly minimum wage is €820, but a 25m2 studio apartment in Lisbon (pictured) can easily go for €700-€800 per month, with prices predicted to increase even more this year.

The allure of Europe’s capitals and major cities is undeniable. For decades, people have flocked to them to work in industry, set up businesses, and seek a better quality of life.

While the central, affluent neighbourhoods of Europe’s larger cities have always been pricey, areas once populated by working-class households have now gentrified, becoming home to high income professionals and pricing out residents who cannot afford increased rents.