Highest rents in Western Europe being paid by UK tenants

Recent research has showed that tenants in the UK face paying the highest rents in the whole of Western Europe, which will come as bad news given that so many people are now being forced to rent due to difficulties in getting a mortgage loan. The results of research have shown that the average cost of renting a room in a shared property in the UK is around £348 per month.

This amount is said to be around 75 percent higher than the cost of renting a room in Spain, where renters can get a room for the equivalent of just £199 per month. The research was carried out by Easyroommate.co.uk, which is a flat share website. With many students and people that cannot buy their own homes looking to rent these high costs are likely to affect many people.

The second most expensive country in Western Europe for rents was France, where the average monthly cost of renting a room was £285. This was closely followed by Italy, where the average monthly cost of renting a room came in at £282. However, both the second and third most expensive countries in Western Europe were still way cheaper than the cost in the UK.

Industry officials have said that the lack of mortgage availability has become a main driving factor behind the cost of renting a room in the UK, and with more and more people being forced to rent the cost of renting a room has been increasing. This is making it more difficult for people to rent due to cost implications at a time when a greater number of people may be forced to rent due to mortgage difficulties.

A spokesperson for Eastyroommate.co.uk said: “Brits are paying more for their accommodation because frustrated first-time buyers are pushing up demand for rental properties.”