WeRoad campaign sparks conversation about Increasing rent in London | London Daily News

Can’t Afford a Flat in Europe’s Hottest Cities? Join the Club That’s Traveling Instead

If you’ve recently tried to rent an apartment in London (or Paris, Amsterdam, Berlin, Madrid, Rome, and Milan), you might have noticed something: it’s practically impossible. With rental prices soaring to astronomical heights, young professionals across Europe’s major cities are facing an unexpected silver lining – if you can’t afford to rent, you might as well travel.

The Numbers Don’t Lie

Let’s talk about what “unaffordable” really means in 2024. In London, you’re looking at upwards of £2,000 monthly for a one-bedroom flat in Zone 2. Amsterdam isn’t far behind, with basic apartments starting at €1,800. Berlin, once the affordable haven for creatives, has seen rental prices jump by over 40% in the past five years. Meanwhile, Madrid, Rome, and Milan are following suit, with young professionals spending up to 70% of their salaries just to keep a roof over their heads.

When Living Local Means Living with Parents

Many groups of friends are in the same boat. They can’t afford to move out, so we’ve started spending our money differently. If they can’t invest in property, they might as well invest in experiences.

This sentiment is echoing across Europe’s urban centres, where millennials are increasingly choosing to redirect their frustrated housing funds into something more attainable: travel adventures.

The “Can’t Rent, Might as Well Travel” Movement

Travel company WeRoad has tapped into this zeitgeist with their latest campaign, drawing a sardonic parallel between two seemingly impossible tasks: finding affordable housing in Europe’s major cities and organizing a group holiday with friends.

“We noticed a trend among our customers,” explains Fabio Bin, WeRoad’s CMO. “Many were young professionals from expensive cities who’d given up on finding affordable housing. Instead of saving for deposits they’ll never be able to afford, they’re choosing to explore the world.”

A New Form of Investment

While previous generations might have invested in property by their late twenties, today’s young professionals are investing in experiences instead. WeRoad’s success – with over 100,000 travellers and a 60% rebooking rate – suggests they might be onto something.

Consider this: three months’ rent in a London flat could fund an entire adventure through Southeast Asia. The security deposit for an Amsterdam apartment could cover a trek through South America. In a world where traditional milestones like property ownership seem increasingly out of reach, millennials are rewriting the rules of what constitutes a worthy investment.

The Silver Lining

Perhaps the most interesting aspect of this trend is how it’s turning a housing crisis into a catalyst for personal growth. Unable to put down roots in their home cities, young professionals are instead creating global connections. They’re turning their generation’s biggest challenge – unaffordable housing – into an opportunity for adventure.

WeRoad’s model, which brings together groups of like-minded travellers, seems particularly fitting for this moment. When you can’t afford to rent in Berlin, why not spend that money exploring Bali with a group of strangers who might just become friends? When Milan’s housing market pushes you to the suburbs, why not push yourself to explore Morocco instead?

A Generation Redefining Success

As rental prices in Europe’s major cities continue their upward trajectory, this trend shows no signs of slowing down. Young professionals are increasingly rejecting the traditional narrative that success means property ownership. Instead, they’re creating a new definition – one that values experiences over assets, and adventures over addresses.

So the next time you’re despairing over rental prices in your city, remember: you’re not alone. And maybe, just maybe, that overpriced flat you can’t afford is actually pointing you toward your next great adventure. After all, if you can’t find an affordable home in Europe’s most expensive cities, you might as well find yourself somewhere else in the world.

To book your next travel adventure head to weroad.co.uk