Budapest is the 4th best European city for remote and hybrid working

A new study has ranked which European cities are best for remote or hybrid working and these are the top 10, with Madrid taking the top spot and Budapest taking 4th place in the overall comparison.

The report, by comparison website NerdWallet, analyzed Europe’s 30 most populous cities, ranking them according to their first-time buyer credentials to find out who is leading the way for first-time buyers. With a focus on hybrid working since the Covid-19 pandemic, the report highlights key amenities that the ‘new’ hybrid worker or first-time buyer of 2022 is looking for in a city to purchase their first property.

Madrid takes first place with an impressive score of 100.4/150, followed by Vienna with a score of 96.0 and Bucharest with a score of 94.2.

Budapest came fourth with a score of 92.1/150, closely followed by Marseille in fifth place with a score of 88.7/150.

Below are the top 10 cities ranked among the best cities in Europe for first-time buyers:

Revealed: The cheapest European cities to buy a house

Homebuyers working remotely or even on a hybrid office basis may be more flexible with location. Therefore, first time buyers can be more budget savvy and find the most affordable options. The European First-Time Buyers Report analyzes 30 European cities and determines which cities have the cheapest average house prices for potential buyers.

Top 10 cheapest cities in Europe for first-time buyers:

Bucharest is the cheapest city in Europe to buy a house, with the average house price costing £35,831. The 20% deposit will also be a modest £7,166, a much more affordable amount for first-time buyers than in some of its neighboring European cities.

The bustling Latvian city of Riga secures its place as the second cheapest location to buy a house, costing an average of £46,316 with a 20% down payment of just £9,263. Budapest, the Hungarian capital, is the third cheapest destination to buy a house in Europe, with the average house costing £86,262, with a 20% down payment of £17,252.

Most first-time buyers are looking to buy on a budget and find an affordable area to settle in, which is why some of the popular tourist destinations in Europe are out of their price range. In this case, Paris, Munich and Berlin are among the most expensive cities in Europe for first-time buyers buying their first home.

Top 10 of the most expensive European cities to buy a house:

Source: NerdWallet

Ranked in the Top 10 cheapest European cities for monthly mortgage repayments

With the cost of living rising, many future first-time home buyers are looking for a more affordable mortgage. So which cities in Europe have the lowest mortgage repayments based on the average incomes of first-time solo and condominium buyers?

Source: NerdWallet

Cheapest European Cities for Monthly Broadband Costs

As many companies shift to hybrid and remote working, broadband costs and speeds have become an important consideration for many first-time buyers when choosing a location to put down roots (and set up their office at residence).

The European First Home Buyers Report reveals which European destinations lead the way to the cheapest monthly broadband costs:

Source: NerdWallet

Source: NerdWallet/Press Release