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The European Property Market and Gold

The Rise of Gold Has Been Nothing Short of Amazing

When markets closed on 15 December 2023, gold was priced at €1.853 ($2.089). The performance of the price of gold – currently around its all-time high – begs the question of how the price of gold compares to other assets you can hold, the most common of which is real estate. Here is a look at the price of a typical two-bed flat in European countries compared to the price of gold. Before looking at the research, perhaps take a guess at which countries you think have the most expensive flats. Spain? Ukraine? The UK? Germany? Finland?

The Price of a Two-Bed Flat, Background

Before looking at the price of a two-bed flat against the price of gold, the following is a look at the price of gold. Through 2023 so far, gold is up 11 percent and has risen 39 percent since the end of 2019. A healthy, very healthy return against most other investment options.

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A Two-Bed Flat in Europe, The Price

Two-bed flats are common across Europe and can vary by country by large amounts. According to research out of Finder, the price of a two-bed flat in Europe’s largest economy, Germany, is £328.000. Across the pond, that similar housing arrangement in the U.K. cost £263.000. In Switzerland, the price is £772.000, and in Luxembourg, it will cost you £547.000.

Expensive, very expensive for most anyone. Of course, there are places that are on the  more affordable spectrum. These include Ukraine, which will only cost you £70.000. Other countries with two-bed flats that cost less than £100.000 include Bosnia Herzegovina, Albania, and Romania.

Paying Gold for a Two-Bed Flat

Given this background, what if you were paying for a flat in gold? How much would you have to shell out for a two-bed flat? The following figure has that look. Overall, a two-bed flat in notoriously independent Switzerland will require you to put up 400 ounces of gold.

On the other end of the cost spectrum, to get a flat in Ukraine, you will only need to bring a cart full of 36 ounces of gold. Simply amazing.

How Have Things Changed from 2020 to 2023?

Of course, paying for a two-bed flat in gold happens rarely, but if it did, would you be better off paying for the flat in 2020 or 2023? Amazingly, at least for the five countries inspected, your two-bed flat would be less expensive today than in 2020 if you were paying in gold. For instance, a two-bed flat in Germany would has costed you 198 ounces of gold in 2020, but only 169 ounces in 2023. In Spain, it would have cost you 89 ounces of gold in 2020 compared to 83 ounces today. Too bad you chose Euros instead of gold for you purchase.

Summing Up

Overall, many individuals around the world would love to own a two-bed flat in Europe. The culture, the people, the experience cannot be beaten anywhere else in the world. With that said, it will cost you. Of course, if you had been smart and put your money in gold over the past four years, your flat would actually be cheaper today than what is was heading into 2020. It just goes to show that what you invest your money in can have a large influence on your life.

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