Housing Prices in the EU Have Increased by 42% Since 2010

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Estonia, Hungary and Luxembourg are the leaders of price growth.

What happened? According to Eurostat, rents and house prices in the EU continued to grow steadily in the fourth quarter of 2021, increasing by 1.3% and 10% respectively, compared to the fourth quarter of 2020. Over the period from 2010 to the fourth quarter of 2021, rents in the EU increased by 16%, and housing prices - by 42%.

Context. Housing prices and rents in the EU followed similar paths, but these trajectories have diverged significantly since the second quarter of 2011. Although rents rose steadily throughout the period up to the third quarter of 2021, house prices significantly fluctuated.

After a sharp decline between the second quarter of 2011 and the first quarter of 2013, house prices remained more or less stable between 2013 and 2014. Then there was rapid growth in early 2015, and house prices have been rising much faster than rents since then.

Rating. In the fourth quarter of 2021, compared with 2010, housing prices increased in 24 EU countries and decreased in three. The most significant growth was recorded in Estonia (+156%), Hungary (+128%), and Luxembourg (+124%). The decrease was observed in Greece (-23%), Italy (-12%), and Cyprus (-9%).

Rental rates for the same period increased in 25 EU countries and decreased in two. Rent has risen the most in Estonia (+171%), Lithuania (+113%), and Ireland (+74%). The decrease was recorded in Greece (-25%) and Cyprus (-1%).and Badajoz and Salamanca (7.7% in both cases).

Offices. Offices in Seville bring the highest profitability among the capitals with a gross profit of 11.3%. It is followed by Toledo (9.4%), Vitoria (9.2%), Almeria (9.1%), and Leon (8.2%). In Madrid, the profitability is 6.9%, and in Barcelona — 6.5%.

At the opposite end of the scale, we see the yields of Bilbao (6.1%), Palma (6.4%), Granada, Ourense, and La Coruna (6.5% in all three cases).


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