Some of the cheapest destinations worldwide are found far away from home. However, there are also many beautiful European cities where the average price to rent a property is under £500.

Outside the city centre is even more affordable with prices around £147.49 per month for a one-bed flat.

In second place is the capital of Montenegro, Podgorica.

The second-most affordable European city to rent offers a one-bedroom flat in the centre for £​​276.40 on average.

It’s even cheaper if it’s less centrally located with prices starting at £201.61 for a condo.

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Cheapest European cities for renters

Sarajevo, Bosnia and Herzegovina, 224.86

Podgorica, Montenegro, 276.40

Tirana, Albania, 286.81

Sofia, Bulgaria, 329.15

Belgrade, Serbia, 339.67

Budapest, Hungary, 356.25

Athens, Greece, 362.62

Bucharest, Romania, 367.55

Zagreb, Croatia, 411.86

Nicosia, Cyprus, 452.58

The new research found Monaco and Hong Kong are the most expensive capitals for buyers.

A one-bedroom apartment in Monaco costs an average of £62,860.27 per square metre to buy.

Similarly, a one-bed flat in Hong Kong will sell at an average of £24,066.14 per square metre. The average apartment in Hong Kong is only 44 m2, which in the centre would cost £1,058,910.16.

London, on the other hand, was named the most expensive European capital for renters.

Most expensive European cities for renters

London, United Kingdom, 1,685.32

Dublin, Ireland, 1,397.33

Luxembourg, Luxembourg, 1,328.32

Amsterdam, The Netherlands, 1,303.20

Stockholm, Sweden, 1,258.41

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