The Global Cities: a 2016 Report, published by property agent Knight Frank has ranked Berlin as the most affordable city in Europe for young professionals to live and work in. It took into account starting salaries and then balanced this against costs such as rent, bills and travel. The proportion of salary left after these costs was the figure used to rank the cities.
Here are the top 5 most affordable cities for young professionals in Europe:
Young professionals in Berlin manage to keep hold of 63.7% of their monthly salary after paying for life’s essentials. Berlin became the first city in Germany to introduce rent controls in June 2015 to stop housing costs getting out of control.
Coming in second is Frankfurt. Frankfurt is a financial center and therefore offers well paid employment opportunities for graduates and young professionals. It is also bound by the rent controls seen in other German cities, such as the number one in this list, Berlin.
It’s a surprise to have a British city in the top five, as property in the UK can be very expensive. However Scotland’s capital is actually one of the most affordable for graduates, being a financial hub second only to London. In addition, the city is small enough to walk most places, which saves greatly on travel costs.
Most of us are aware that Spain has been going through some hardship, with unemployment being high; however the rate is falling and job creation is on the rise. Employed graduates can expect to keep 45.8% of their salary after living expenses.
Young professionals in Dublin can expect to be left with 42% of their salary after living costs. Even the famed pint of Guinness can be very expensive and, in terms of accommodation, rent is on the rise. In spite of this, Dublin is still one of the most affordable cities in Europe for young professionals and has access to good graduate jobs.
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