In the last 10 years, one of the highest housing price increases in the EU has been recorded in the Baltics

In the last 10 years, rent and real estate purchase prices have increased in almost all European Union (EU) countries, and a particularly rapid increase was registered in the Baltic countries, according to the information collected by the Estonian company “RIA.com Marketplaces”.

Estonia recorded the fastest increase in both rent and home purchase prices among all EU countries. High indicators in this list are also shown in Latvia, where rental prices have increased by 36% in the last 10 years, and real estate purchase prices by as much as 99.1%. Comparing the second quarter of 2021 with 2010, it can be observed that rental prices have increased almost throughout Europe. The average increase in rent prices among EU countries over 10 years is 15.7%, while real estate prices have grown by an average of 34.4%. The biggest increase in rent prices among EU countries was recorded in Estonia (by 142.4%), Lithuania (by 109.1%) and Ireland (by 65.6%). A drop in prices was registered in only two countries – Greece (by 25.1%) and Cyprus (by 3.3%). On the other hand, rent prices in Latvia have increased by 36% in 10 years, according to the latest “Eurostat” report, which is the sixth highest indicator among EU countries. The situation is similar with regard to real estate prices in the housing sector – the biggest increase in terms of these indicators is also in Estonia – by 132.7%. A substantial price increase was also registered in Luxembourg (110.8%), Hungary (108.9%) and Latvia (99.1%). Rent prices in Europe continued to grow this year, despite the impact of the pandemic. For example, in the second quarter of 2021, compared to the same period in 2020, rent prices across Europe increased by 1.3%.

Read the full article here