How have housing and rental prices changed in Europe over 12 years? Eurostat conducted a study
Eurostat has analyzed how housing and rental prices have changed in the EU since 2010. The analytical service published its conclusions in the form of a large article.
How have prices changed over that time? In brief, from 2010 to the second quarter of 2022, rents increased 18% and home prices increased 48%. Throughout those 12 years, rent prices have risen steadily, but home prices have fluctuated back and forth from time to time.
For example, between the second quarter of 2011 and the first quarter of 2013, prices fell sharply, and from 2013 to 2014 they remained relatively stable. The turning point was the beginning of 2015, when prices went upward, and from then on, they grew faster than rents. As for this year, 2022, rent prices were up 1.7% for the year and 9.9% for housing.
In which countries have prices gone up and in which countries have prices gone down? Over the past 12 years, home prices have increased in 24 EU member states, and declined in three. Most expensive apartments in Estonia, Hungary, Luxembourg, Latvia, Lithuania, Czech Republic and Austria — there, prices have more than doubled. The reduction of prices was in Greece, Italy, and Cyprus.
As for rents, during the same period, prices rose in 25 EU member states and fell in two: especially the price tag went up in Estonia, Lithuania and Ireland, the figures went down in Greece and Cyprus.
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