1,000,000 euro residence could possibly be a daily condominium in central Paris or a luxurious villa close to Sofia. However all over the place consumers look, they want incomes nicely above the nationwide common to purchase.
So how a lot ought to they earn?
Euronews Enterprise calculated the required wage utilizing a typical mortgage situation with a 20% down fee, a hard and fast rate of interest of three.5% and a reimbursement interval of 30 years. We additionally assumed that consumers would spend not more than 33% of their gross revenue on a mortgage.
Which means a down fee of 200,000 euros and a mortgage of 800,000 euros.
This calculation doesn’t embody property taxes, insurance coverage, transaction prices or different charges, and precise mortgage phrases might differ by nation and borrower.
Month-to-month funds roughly 3,600 euros
Based mostly on these assumptions, the annual mortgage fee can be €43,108. This equates to three,592 euros per thirty days.
With 33% of gross revenue put aside for mortgage funds, consumers will want an annual gross revenue of €130,631. That is 10,886 euros per thirty days.
Earnings ranges differ extensively throughout Europe. This revenue could also be simpler to realize in some international locations than in others. Burdens might differ throughout the nation.
The calculations on this article are primarily based on Eurostat gross revenue figures for 2025, the place a full-time single employee with out youngsters earns 100% of the common wage. The calculations additionally present how the burden adjustments if each companions earn a median wage, as a €1 million house is extra inexpensive and more likely to be of curiosity to {couples} if each individuals work.
Bulgarian consumers want nearly 8 occasions the common wage
The common wage required to purchase 1,000,000 euro residence varies extensively throughout Europe. Inside the EU, the distinction between the bottom and highest values is nearly 5 occasions.
Whereas the common employee in Bulgaria is in probably the most troublesome place, employees in Luxembourg are the closest to having the ability to afford a mortgage. In Bulgaria, a single individual with out youngsters would want to earn 7.8 occasions the common wage to earn 100% of the common wage. In Luxembourg, this determine is under 2 at 1.6.
The common variety of salaries required ranges from 2 to three in Denmark (2.1), Eire (2.3), Belgium (2.4), Austria (2.5), Netherlands (2.6), Germany (2.7), Finland (2.8) and Sweden (2.8).
The common employee in these international locations is the closest to having the ability to purchase 1,000,000 euro residence.
Among the many EU’s ‘large 4’ economies, Germany ranks highest with a median wage of two.7, in comparison with 3.1 in France, 4.0 in Spain and 4.1 in Italy.
This quantity additionally stays under 4 in Slovenia (3.7) and Malta (3.9).
10 EU international locations require greater than 5 individuals on payroll
To afford 1,000,000 euro residence, you want an revenue equal to greater than 5 occasions the common wage within the 10 EU international locations. Greece (7.2) has the second highest necessities within the EU after Bulgaria (7.8).
Hungary (6.7), Slovakia (6.3) and Poland (5.8) spherical out the highest 5.
Romania (5.8), Latvia (5.7), Czech Republic (5.2), Portugal (5.2) and Croatia (5.2) additionally require greater than 5 occasions the common wage. Estonia has simply 5.0 and a complete of 11 international locations require 5 or extra wage equivalents.
2 individuals with common revenue qualify solely in Luxembourg
For {couples} the place each companions earn a median wage, the affordability ratio is halved as a result of the calculation is predicated on their mixed revenue. In Luxembourg, the required revenue is equal to 0.8 occasions the couple’s mixed gross revenue, which means that two common earners can keep inside 33% of the anticipated mortgage restrict.
Denmark is shut, with the required revenue equal to 1.05 occasions the mixed wage of a working couple. The ratios in Eire and Belgium are each round 1.2, which means that even the mixed salaries of two common earners are usually not sufficient. Nonetheless, below the assumptions used right here, Luxembourg is the one EU nation that meets the affordability standards for 2 common revenue earners.
In Bulgaria, a pair incomes a median wage nonetheless wants an revenue equal to nearly 4 occasions their mixed revenue, and it stays very troublesome to afford a home.
What’s the common wage?
Based on Eurostat, as of 2025, common annual gross revenue will differ extensively throughout Europe. For single individuals with out youngsters, the common month-to-month wage, calculated by dividing the annual determine by 12, ranges from €1,398 in Bulgaria to €6,713 in Luxembourg.
Denmark (5,300 euros), Eire (4,708 euros), Belgium (4,630 euros), Austria (4,306 euros) and the Netherlands (4,167 euros) even have common month-to-month gross incomes of greater than 4,000 euros.
In distinction, the common wage in seven international locations is under 2,000 euros. That is removed from protecting the month-to-month mortgage fee of €3,592. Along with Bulgaria, different international locations embody Greece (1,510 euros), Hungary (1,625 euros), Slovakia (1,734 euros), Poland (1,862 euros), Romania (1,885 euros) and Latvia (1,904 euros).
Hole between wage and mortgage
This calculation assumes that solely 33% of your wage goes in the direction of your mortgage, so the common wage in EU international locations will not be sufficient for every individual.
For Bulgaria, this leaves a deficit of three,131 euros. That is the distinction between the mortgage fee of €3,592 and €461, which is 33% of your wage.
In Luxembourg, 33% of the gross wage is 2,215 euros, so the shortfall is 1,377 euros.
