There is still a rising trend in housing prices in the European Union. This was the conclusion reached by the European Commission during the preparation of their traditional autumn forecast concerning various aspects of the economy, including the real estate market. Experts found that housing began to rise in price in 2013 and this trend continues to this day. On average in the EU over the past 8 years, apartments, flats, cottages and houses have become more expensive by 31.53%. This phenomenon is called a «dynamic uptrend».

During the reporting period, from the second quarter of 2013 to the second quarter of 2021, property prices in Hungary soared by almost 118%. This became a record figure for Europe.

Square meters rose in price by 50-80% in the primary and secondary housing markets in Germany, Portugal, Estonia, Czech Republic, Ireland, and Luxembourg. In Poland, the growth rate was 40.1%; in Spain, 33.4%, in France, 13.2%. The European Commissioners attributed this jump to the constant demand for housing in the alliance, which is supported by sustainable economic growth, reasonable interest rates on credit/mortgage programs, and traditionally high household savings.

The European Commission considered the cost of real estate in almost half of the EU countries as overpriced. The TOP-3 states where housing turned out to be overvalued by 23.2-49.9% were:

  1. Luxembourg;
  2. Sweden;
  3. Austria.

It was found that residential premises in Spain, France, Denmark, and Portugal were overvalued by 8.5-18.6%. Real estate in Italy, Lithuania, Ireland, and Romania was recognized as undervalued by 6.1-17.1%.