House prices have skyrocketed across Europe. While in Paris and Munich, the price of homes is over 10,000 euros per square metre, properties are much more affordable in the Balkans. In Greece, you can buy a 70-square-metre beach apartment for a very reasonable 70,000 euros.

No chance for young people to get their own home in the European country

Due to the significant increase in property prices, it is almost impossible for young people to purchase their own house or flat in Bosnia. Low salaries make it seem almost impossible to own property without inheriting a sizeable sum of money. The average price of a new-build apartment is 1,265 euros per square metre, some 36 per cent higher than this time last year, according to a report from the Bosnian Statistics Agency. However, wages in the former Yugoslav republic are stagnating; the average monthly salary is 580 euros. This is why most young people stay in the family home or rent an apartment instead of buying one. The situation is exacerbated by the fact that most young people in Bosnia and Herzegovina work on fixed-term contracts and banks therefore do not give them loans to buy a home.

V4NA has searched the website of a Bosnian real estate agency to find out how much it costs to buy an apartment in Bosnia. The asking price of a first-floor 60-square-metre, two-bedroom apartment with en suite bathroom is 112,000 euros. This means that the price per square metre of the property is over 1,800 euros.

A significant number of Russians have arrived in Serbia, which contributed to the housing price hikes

Bosnia, however, is not the only country where house prices have increased significantly in recent times. In neighbouring Serbia, for example, Russian arrivals have driven up property prices. According to data from the Republican Geodetic Institute, prices have increased by 30-50 per cent depending on the location, size and amenities of available homes.

On the real estate website consulted by V4NA, the asking price for an average 50 square metre apartment in Zemun, near Belgrade, is 145,000 euros. The property comes with no furniture, but the price per square metre is still almost 3,000 euros.

Don’t want to heat? Move to the sea!

Greece could be a good choice for Europeans fleeing the cold and the sky-high utility bills. The EU country can be reached quickly even by car by motorway via Austria, Hungary, Serbia and North Macedonia. If you’re not just looking to invest in a home, but want to spend your savings on a Mediterranean beach house, the Chalkidiki peninsula could be a good choice. You can avoid the long winter months and heating costs by spending a few months there, even during the coldest days of winter. An online job is a must for that, of course, for example as a programmer.

We also looked at the local offers of a real estate website. It came as huge surprise that an apartment of 70 square metres, a mere 500 metres from the beach, had an asking price of just 70,000 euros.

The cities topping the European list of prices

In Europe, Paris and Munich have seen the highest property prices this year, according to the Deloitte Property Index survey of 23 European countries. In the French capital, the average price for a new apartment is 13,462 euros per square metre. On a real estate website, for example, a 70-square-metre flat costs 895,000 euros.

Munich comes second with an average of almost 11,000 euros, followed by London, Oslo and Frankfurt.