Buying a home worth €1 million requires not only substantial savings for a down payment but also a high verified income. According to experts, to qualify for a mortgage in most European countries, a borrower needs to earn at least €150,000–200,000 per year before taxes, reports infohub.kz.
Financial regulators set limits: monthly mortgage payments must not exceed 30–35% of net income. With a standard 20% down payment (€200,000), the loan amount is €800,000. At an average interest rate of 3.5–4% per year over 25 years, the monthly payment is about €4,000. Thus, the buyer's net monthly income must be at least €11,000–12,000.
In high-cost countries like Switzerland, Luxembourg, and the United Kingdom, borrower requirements are even stricter. In Southern Europe, such as Spain or Portugal, the entry threshold may be slightly lower, but high property transfer taxes complicate the purchase.