The EU’s statistical service (Eurostat) reports that house prices and rents in the EU followed a similar path between 2010 and the second quarter of 2011.
However, after the second quarter of 2011, house prices and rents have evolved differently. While rents increased steadily throughout this period up to the second quarter of 2022, house prices have fluctuated considerably.
After a sharp decline between the second quarter of 2011 and the first quarter of 2013, the price of houses remained more or less stable between 2013 and 2014, but following a rapid rise in early 2015, they increased faster than rents.
From 2010 until the second quarter of 2022, the price of houses rose 48% in the European Union, while rents increased 18% over the same period
When comparing the second quarter of 2022 with 2010, the price of houses increased more than rents in 19 EU Member States.
House prices
Between 2010 and the second quarter of 2022, the price of houses increased in 24 EU Member States and decreased in three. They more than doubled in Estonia (+196%), Hungary (+168%), Luxembourg (+135%), Latvia (+131%), Lithuania and Czechia (both +130%) and Austria (+121%), while decreases were observed in Greece (-23%), Italy (-8%) and Cyprus (-6%).
Rents
When comparing the second quarter of 2022 with 2010 for rents, prices increased in 25 EU Member States and decreased in two, with the highest rises in Estonia (+214%), Lithuania (+139%) and Ireland (+82%), while decreases were recorded in Greece (-24%) and Cyprus (-0.2%).
