House-hunting in the EU? Here’s where to start

Labour mobility regulations in the EU have made moving between the 27 EU Member States a straightforward process. If you are planning to relocate for work, securing your accommodation is one of the first things you need to do.

To make navigating the real estate landscape in a foreign country a bit easier, here are a few things to consider.

Area

Choosing where you will live might be challenging, especially if you aren’t familiar with the country you are moving to. Factors to consider include how far from your work you are willing to live, proximity to schools and means of public transport, if you have children, reputation/safety of the neighbourhood, and access to facilities important to you (e.g. gym, park, shopping centre).

Pricing

Many times, cost will be a decisive factor in your choice of area. In most countries, rental prices in the larger cities are much higher. Take Finland, for example. Comparing living costs in the capital, Helsinki, against those in Turku, a more provincial city, there is an almost 33 % difference (€1 036.58 for a one-bedroom flat in central Helsinki versus €696.27 for the same type of flat in Turku).

Moreover, city centres are notoriously more expensive than suburban areas. In Spain, the rental price for a one-bedroom flat in the outskirts is €400-900. In a central area, these prices might go up by 25 %.

Type of housing

Depending on your occupation, you might be eligible for accommodation through your employer. The European University Institute, for example, offers housing to academics and administrative staff on a 12-18-month basis. ‘Tied’ accommodation or corporate letting are also gaining momentum, with agencies such as ukio, forenom and NORDICTA offering options that might be advantageous in terms of pricing. Make sure to check with your employer whether the company is part of such an agreement.

Rent or buy?

This is a personal decision that depends on a lot of factors. If you know your move is not time-limited and your financial situation allows it, you might choose to buy property instead of renting. Homeownership nowadays is costlier, as interest rates and inflation are still high. However, buying a house is a significant long-term investment that could make sense in your situation. If you decide to buy, consider the following:

Seek expert advice. A real estate attorney, for example, will help you navigate a foreign market safely.
Research your mortgage options. The help of an experienced financial adviser is, again, crucial.
Explore your support options. Grants for the use of renewable energy sources or financial support for renovations might be available in some countries.

The fine print

If you decide to rent, before signing any tenancy agreement, seek advice from someone who knows the local market and will help you avoid misreading a contract. Tenancy laws differ between countries. In Greece, for example, a deposit of 2 months’ rent is usually required, whereas in France the deposit is equivalent to one month’s rent. In Austria, tenancy agreements can be indefinite or fixed-term (minimum term for the latter being 3 years). In Belgium, all leases are time-limited, and they can either be long-term (9 years or longer) or short-term (3 years or less).

For residence help and advice, go here.

Ready to move abroad and feeling overwhelmed? Do not hesitate to reach out to a EURES Adviser who will guide you through every step of the process.

Related links:

Your Europe - Residence

European Labour Authority (ELA)

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