May 30, 2024

Athens News

News in English from Greece

Real estate: where EU house prices have risen and fallen the most


Housing prices in the European Union as a whole showed a slight increase, by 0.2% per year.

The results show that average prices are not falling as much as before – the same index fell by 2.2% and 1.1% in the eurozone and EU respectively for the third quarter of 2022.

Property prices in Luxembourg have fallen to their lowest level since the end of 2020. There was a fall caused by a combination of high interest rates and falling rental demand. Happened significant reduction in transactions in the housing market: by the end of 2023 there were almost half as many as was agreed in 2022.

Eight countries in Europe reported a fall in house prices in the last three months of 2023, although less than in Luxembourg. Prices in Germany fell by 7.1%, and in Finland a fall of 4.4% was recorded.

preview

The highest increase in property prices was recorded in Poland, where prices rose by 13%. Next in line are Bulgaria and Croatia, where property prices rose by 10.1% and 9.5% respectively.

Compared to the July-September quarter, prices fell in a total of 11 countries. In France, prices fell by 2.7%, and in Latvia by 2.5%. News from Italy was more encouraging as prices remained stable.

The highest growth over this period was recorded in Poland (+4.8%), Croatia (+3.4%) and Ireland (+3%).



Source link

Verified by MonsterInsights