Why are rents so high?

Chinese investors, American investors, European investors, basically investors from anywhere wanting to make money off real estate.

that's a bit below the average monthly salary here

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I make 500 000 USD a month working as an astronaut

No retard boomers bought up a bunch of condos during the 90s crash and drove up the prices.

i pay 500e for 32m :D + no narcos or refugees in my area

richfags

Here I can spend 2500 a year

People are willing to spend an ever bigger amount of an ever increasing income on rent so they can live in specific places.

Oh and I forgot the part where they bought up a bunch of apartment blocks and demolished them to drive up the rents too.

because capitalism

kek life is so expensive in Europe.

I love how I have to pay thousands for a shit box in London.

Boomers turned home ownership into a profit ambition and a standardized form of income.

The average prices are so high because of 5% paying ridiculous amounts for housing.

Link related is an old mansion, which they didn't even bother with taking good pictures goes by 40.000€ per month.
hurriyetemlak.com/istanbul-sariyer-yenikoy-kiralik/yali/34256-4771

And here is another mediocre mansion in Cyprus they dare to charge 145.000GBP for it.
hurriyetemlak.com/kktc-girne-arapkoy-kiralik/villa/98119-247

nig that costs 300-450 euros max in Greece.

wrong

spitogatos.gr/ενοικίαση_Διαμέρισμα_Κέντρο__Κέντρο_Αθήνας_-l8491627

ρουφα το kαυλι μου μαλαkα. 1 λεπτο μου πηρε.

>newly built apartments
no one can afford those anyways unless you're fucking rich

Amazing thing about newly built is how very mediocre quality they are. Some 1970s Commie bloc here is way better isolated. My friend lives in building from 2017 you can seriously hear the people above taking dumps,flushing toilets and showering.

>Marni
Eipe dyo ypnodwmatia se kalh perioxh ilithie oxi se narkogeto. 420 gia Marni nomizeis einai liga?

Supply and demand, simple as.

What is the median income in European cities? For example I can take my city (Washington DC) and the average salary is around 90k USD which is the reason rent is like 2.5k per month average for an apartment home. Are income statistics available for your capitals?

Why is capitalism so bad at providing housing? Everything else is great but housing just sucks.

>tfw i pay 300 euro for a 60 m2 apartment

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Var fan bor du?

Demand is high.

Even if you could build apartments faster, the problem is you can only have so many apartments in a square area. The further away you build from the centres of interests the lower the demand for those new buildings will be relative to the older buildings which are closer.

Faster and cheaper travel can ameliorate that a bit.

>Why is capitalism so bad at providing housing?
It isn't. The problem is that providing housing is very dependent on zoning laws and permits to actually begin the construction of new houses. This process is for various reasons disturbed by politics. Paris, for example, has laws that dictate the maximum height for buildings and requires government approval for buildings that exceed that height.

>Faster and cheaper travel can ameliorate that a bit.
That is true. That's one thing I'll admit the free market can't solve: public transportation. The availability of public transport also highly correlates with the ability for the poor th climb out of poverty (because it allows them to seek out better jobs further away, even if they don't own a car).

Only retards rent because it is money wasted for a good that doesn't even belong to you, normal people buy.

>Buying houses at the height of a bubble
Moron

controlled supply and increasing demand*

Have you ever considered that not everyone can afford to buy?

Not gonna deny that. I'd be surprised if zoning laws aren't deliberately made very strict by politicians in cahoots with housing barons who don't want to see the value of their property drop.

Have you guys ever met a German living in the middle of one of their great cities and they tell you they pay 400 Euro for their apartment and you think "what the fuck?" and then you see graphs like this and Germany is nowhere to be found? What's happening?

because NIMBYs don't want to devalue their property

N

Linköping

No one except poorfag millennials cares about muh NIMBYs. Even YIMBY's support de facto gentrification.

1. That's probably social housing.
2. Berlin is a shithole where nobody wants to live anyway. Pic related, Germany's GDP/capita would actually improve if you Thanos Snap'd Berlin.

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>Norrkoping dyrare än Linköping.
Hur fan då

>0.2%
>improve

It's almost literally the same.

Yes and that's pretty much the same price.

Renting a studio where I live is about 400€ a month, buying a studio is about 100,000€, meaning your loan is about 400€ a month too.

Heavy handed regulation restricts the supply of housing.

>Property owners shouldn't be allowed to band together to petition the government to protect their investments
Commie

To protect their investments from what, the free market? You're sounding like the commie here.

>what is offer
>what is demand

What have learned in school

>living in rome
>ever

renting for 400 and qualifying for a loan to pay 400 is not the same thing

>renting
ffs why are eurocucks so obsessed with renting. just get your own apartment/house.

I wish I knew this before moving. Moved into a building that's a few months old and it's disappointing how shitty isolation is

>2 rooms
>61 square meters
>full kitchen
>bath
>only 487€/month

Feels good to live in a small town.

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It's just as bad in most of the USA. Even in flyover country an apartment here costs around 1500

>ffs why are eurocucks so obsessed with renting
Because I can't afford 300 000€ for an apartment... Houses cost even more.

Ok Eesti you ready to pay 200000SEK for 80Kvm?

meanwhile you can afford to pay off someone elses loan on an apartment... nice

You mean central bank policy

Yes I can afford my rent. What's your fucking point? You want me to live on the street?

That‘s what mortgages are for

If the interest rate goes from 1.5-1.9% to maybe 3-4 % you do realize how much more you have to pay right?

>200000SEK
>18,841.42 Euro
>80Kvm
are we talking about rent here?

Don't have good enough credit for that. I only work part time.

I live in London but only pay £400 in rent desu. People who complain about rent prices just need to get over themselves and accept living in squalor for 5-10 years, until they can finally afford a deposit so they can buy a shit place instead of renting a shit place.

we're in a backtracking economy. the interest rates are going to fall.

>own apartment
Will cost at least 200k €
>own house
Will cost at least 500k €

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>What's your fucking point?
take a loan and pay off your own debt instead of someone elses. simple as

..that's really not that high.
inb4 >flag
only paris seems high, not worth it either. big american cities are worse.

Average salary in London would be something like £2,400 after taxes. Vast majority of people don't live by themselves though, so not many people are paying the full price for the one-bedroom apartment. Additionally, I'd imagine that the figure in the pic refers to central London (Zone 1 and Zone 2 maybe) - it's possible to find a (shit) place for more like £1,200 per month if you live a bit further out. It's still easy enough to commute in, so most people do that.

This is with 2% interest rate

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>just get your own apartment/house

I live in my own house, it's not cheaper if that's what you are saying. My old apartment cost me around 400 Euro per months. No repair costs or anything.
My house costs me 550 Euro per month on electricity alone. Not to mention water, repairs, maintenance, taxes and my mortgage.
The only benefit is that I can sell it if I ever wanna move.

Very British attitude to housing

living in a nice, relevant city is easily better than living in a shithole even if you have to sacrifice lots of things to make it work. of course, if you have a family/children then I can understand wanting a nice place.

This is sarcastic right?

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that's pretty harsh. i own a 60sqm apartment and i pay about 100 euro max for utilities etc.

Banks have strict policies here. My credit is not good enough for a house loan. I only work part time thanks to a crappy back so that won't change either.

Americans live in detached homes while the inner city is considered a ghetto. Home prices are only high in San Francisco, LA and NYC.

>t. bum living on a bench

>100 euro max for utilities etc
That's insanely cheap.

Maybe, but none of that applies to London. It's a shithole, and the people who live here are all morons

50%, it's also true that millennials are abysmal at saving and probably deserve the debt they always tend to find themselves in

>Banks have strict policies here
meanwhile swedbank is involved in the biggest money laundering scandal in the history of banking xDDDDDD

This the, yearly cost for the maintenance of the power grid is about 300 euros per year alone

20km from the city, in a small town of maybe 5k residents. if i din't have central heating it would be around 50 euros

Yup, fucking jews. The bosses take out millions of euros and I can't even get a 2000 Euro loan for a car...

that's the banks for you. they handle billions of trillions of dirty money and act innocent while they fuck the simple man ass to mouth.

Couple of years back when I logged into my Swedbank account I had to fill out a survey(about money laundering and what not) within 5 logins or they would lock my account and I would be forced to go their offices
LMAO

How is that retarded? Sounds like they made a good decision

Handelsbanken forces their customers to fill in a form with
>source of income
>yearly income numbers
>taxes
>savings
And a bunch of other shit. You have like 14 days to do it once the paper comes or your account is frozen.. You can't even log into the phone app if you don't.

It's a supply side issue. Land within cities is scarce compared to outside so it costs more to acquire. Ultimately the costs are pushed onto whoever ends up buying/renting the properties built on this land. In Dublin's case, this could be alleviated with more efficient use of the land i.e build taller buildings but this won't happen since the planning board id opposed to high rise buildings in Dublin

jfc. my bank (estonian) only requires me to take a one time visit to the office if my monthly transactions exceed 15k euros. so far i registered an account, got a debit card by mail, opened an investments account, a passive investments schema, pension funds, etc. without ever being into any of their offices. and since i make only 2.5k a month i doubt i'll ever need to visit them.

bottomline is swedbank fucking sucks so hard it is actually incredible they manage to hold a client base

I bought my apartment here in central Stockholm 13 years ago. It cost me 112 000 Euro. I figured it was pretty expensive since the street was pretty boring and the apartment pretty old.
Today it's worth over 400k kek. My neighbour sold his place (identical to mine) for 455k last year.
It's funny how places that once were cheap now bring in the big bux.

>Why yes, I do approve of the construction of high rise buildings in European city centers. I believe that keeping housing affordable is more important than maintaining buildings without any significant historical value. Furthermore in terms of aesthetics I believe style is more important than size: even a tiny church can be disgusting if built in a brutalist style.

Attached: Hear+me+out+just+imagine+living+like+this+_9b7bc80097179ffac4f41230785550d7[1].jpg (1000x1232, 175K)

>It's funny how places that once were cheap now bring in the big bux.
Because they are sold to clueless dopes that are not from town.
I see buildings being sold off as exclusive or whatever. Man those houses were cheap ass hack jobs built in the late 1940s that didn't even have toilets.