HOUSE PRICES IN THE EU HAVE INCREASED MORE THAN 40 PERCENT

18. Apr 2022
Photo: Pixabay

In the period from 2010 to the fourth quarter of 2021, the rent of houses in the European Union increased 16 percent, and the prices of houses 42 percent, according to the data of the EU Statistical Office (Eurostat).

The report points out that house prices have more than doubled in Estonia, Hungary, Luxembourg, Latvia, the Czech Republic, Austria and Lithuania since 2010.

Also, rental prices and house prices in the EU continued to grow steadily in the fourth quarter of 2021 and increased 1.3 percent, or 10 percent, compared to the fourth quarter of 2020, reports biznis.rs.

Between 2010 and the second quarter of 2011, house prices and rents in the EU had a similar upward trend, but since the second quarter of 2011, there has been a divergence - while rental prices were constantly rising until the fourth quarter of 2021, house prices fluctuated significantly.

PHOTO: EUROSTAT

After a sharp decline between the second quarter of 2011 and the first quarter of 2013, house prices remained largely stable between 2013 and 2014. Then there was a sharp rise in early 2015, since when house prices have risen much faster than rental prices have risen.

When comparing the fourth quarter of 2021 and 2010, house prices rose more than rental prices in 19 EU member states. House prices rose in 24 EU member states and fell in three, with the largest increases in Estonia (+156 percent), Hungary (+128 percent) and Luxembourg (+124 percent). Eurostat recorded a decrease in Greece (-23 percent), Italy (-12 percent) and Cyprus (-9 percent).

PHOTO: EUROSTAT

When comparing the fourth quarter of 2021 with 2010, house rental prices rose in 25 EU member states and fell in two, with the largest increases in Estonia (+171 percent), Lithuania (+113 percent) and Ireland +74 percent). Eurostat registered a decline in Greece (-25 percent) and Cyprus (-1 percent).

The total amount of money on the real estate market in 2021 amounted to 6.1 billion euros, which is an increase of 47 percent compared to 2020, according to data from the Republic Geodetic Authority (RGZ).

Namely, 138,180 sales contracts were concluded last year, which is 28% more than a year earlier. The share of payments for apartments from loans was 34 percent, or one percent more than in 2020, and the total share of payments from loans for all real estate was 15 percent, which is an increase of one percent compared to the previous year.

The report also states that the amount of money on the market in 2021 increased 43 percent, and the turnover of houses increased 32 percent, ie the amount of money 45 percent compared to 2020. The turnover of business premises increased 42 percent compared to 2020, and the amount of money 45 percent.

When it comes to the sale of houses in Belgrade, in 2021 there was an increase in price, and the price per square meter in December was 918.29 euros, while in 2020 it was 848.23 euros, which is a change of 8.26 percent , data from the site MojaNekretnina.rs show.

 

Source: biznis.rs

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