According to statistics, tenants renting costs have invariably risen in the EU for ten years, while property prices have had different fluctuations. Between 2011 and 2013, for example, there was a decrease in prices, followed by a plateau in 2014, and from 2015 to the end of 2020 property prices increased annually. In the long run, between 2010 and the fourth quarter of 2020, average rents in the EU upped by 14.9 per cent and housing prices by 28.6 per cent.
Over the decade, prices of realproperties have rocketed in 23 EU members states. Most significantly – in Estonia (112.8%), Luxembourg (99.8%), Hungary (90.6%) Latvia (85.6%) and Austria (81.4%).
Huge growth in property prices has also been reported in Iceland – by over 125 per cent, and in Norway – by nearly 70 per cent.
At the same time, the most serious fall in property prices was recorded in Greece (28.1%), Italy (15.2%), Spain (5.2%) and Cyprus (3.4%).
And what about rental prices?
Estonia also recorded the sharpest increase in rental costs – over 143%. Growth in rental levels was also recorded in Lithuania (109.2%) The most visible decline was again recorded in Greece (25.2%), as well as in Cyprus (4.1%).