London ranked most expensive capital for digital nomads in Europe
Whether it’s for higher income, exploring new horizons or getting insight into foreign cultures, working abroad is becoming increasingly popular. Those who opt for a foreign experience within the EU can expect the highest cost-of-living in London. The average expenditure there comes in at just under 3,258 euros, closely followed by Dublin at 2,908 euros, as found by bunq, the second largest neobank in Europe. In its recent study, bunq’s experts compared the costs for renting an apartment, public transportation, coworking spaces and offices, as well as electricity and (mobile) Internet in 27 EU capitals and the UK.
Romania comes off best in EU cost comparison
Expats in Bucharest pay an average of 935 euros per month for rent, public transportation and utilities. This makes living in this city cheaper than any other capital in the EU. The average rent for a one-room apartment in Bucharest is just 417 euros. Budapest comes in second place, with a cost-of-living of 1,091 euros. Those who long for a southern alternative should head to Greece: in Athens, the cost of living for expats is around 1,191 euros a month, making it the third most affordable capital for digital nomads in the EU.
In London, the European financial metropolis, digital nomads and expats pay more than three times as much as in Bucharest. Here, the cost of living, including expenses for co-working spaces, comes out at a whopping 3,258 euros. Professionals who do not use co-working spaces still have to pay the most out of all Europe: 3,014 euros per month. Within the EU, it can also be expensive in Dublin, Luxembourg (city) and Copenhagen: these countries’ capitals follow with 2,910 euros, 2,544 euros and 2,482 euros.
Living in Dublin will cost expats much more than that. Here, the cost-of-living, including expenses for co-working spaces, stands at a whopping 2,908 euros. But even without relying on such spaces, expenses are the highest in Ireland at 2,590 euros a month. Within the EU, things can also get expensive in Luxembourg and Copenhagen: the two capitals follow with 2,544 euros and 2,482 euros, respectively.
European capitals among most beloved by digital nomads – Amsterdam, Berlin, and Paris – occupy 5th, 6th, and 7th places in the overall ranking as cities with higher-than-average cost-of-living. To afford a life in Amsterdam, you need to have at least 2,368 euros at your disposal. Berlin is slightly cheaper with 2,150 euros in monthly costs, and Paris comes close at 2,140 euros. Lisbon, on the other hand, is home to over 15 thousand digital nomads and rightfully so: the city stands at 13th place right behind Helsinki, claiming an average of 1,685 euros in monthly overall costs.
Most expensive coworking spaces in Luxembourg, Dublin, and Copenhagen
Whether working in a fully equipped, private office or in a shared work environment, digital nomads in Luxembourg have to dig deep into their pockets. Those who want to share working places with other productive minds or rent private offices for themselves have to expect costs of about 400 euros a month on average. Prices in Dublin and Copenhagen are also well above the EU average of 213 euros, coming in at 317 euros and 316 euros per month, respectively. London is a bit cheaper, but the cost still remains above the EU average at around 244 euros.
Bucharest scores high not only because of its overall living costs, but also because of its favourable prices for shared and private workplaces. In the Romanian capital, expats pay around 132 euros per month. Warsaw and Tallinn got second and third places in the EU comparison with 138 euros and 140 euros respectively.
Free public transportation in Luxembourg
Despite higher-than-average cost-of-living in Luxembourg, the country offers some advantages: for example, all public transportation has been free of charge since 2020. In terms of mobility tariffs, Luxembourg is a frontrunner by a long shot. The Czech Republic and Poland hold second and third place. In Prague, visitors pay the equivalent of just under 21 euros for a monthly ticket, in Warsaw the ticket is 25 euros. Berlin, with its 49-euro ticket, is right in line with the EU average of 49.43 euros.
In London, a monthly ticket for the important zones 1 and 2 costs 180.94 euros for adults. Dublin, Copenhagen and Paris follow. The Irish capital charges by far the highest prices in the EU comparison at 155 euros, Copenhagen and Paris come in behind at 101 euros and 84 euros respectively.
Ali Niknam, CEO and founder of bunq: “Digital nomads live a borderless lifestyle, that’s why we offer them a bank that travels with them and lets them bank like a local, everywhere they go. Whether you’re in budget-friendly Bucharest or facing the high costs of Dublin, we’re here to make sure you feel at home as soon as you get your bunq card out of your wallet.”
