EU Housing Market Trends (2015–2024)

Surge in House Prices

• EU-wide: House prices rose by 53%.

• Hungary: Largest increase - tripled since 2015. Budapest apartments range from €250,000 to €1.5 million.

• Iceland: Prices rose 2.5 times, with the Reykjavík area averaging €558,000.

• Other countries with more than double the price: Lithuania, Portugal, the Czech Republic, Bulgaria, Estonia, and Poland.

• Finland: Minimal change; prices only recently starting to recover after a market dip starting in 2021.

• Turkey (non-EU): Massive surge - prices are 17 times higher than in 2015, though inflation and low wages limit affordability.

Rental Market

• EU average: Rents up 26.7% since 2010.

• Highest increases:

o Estonia: +212%

o Lithuania: +175%

o Iceland: +120%

o Hungary: +114%

• Greece: The only country where rents decreased (−13%).

• Turkey: Rents increased 8.8 times over a decade.

Overall Housing Costs (incl. Utilities)

• Biggest increases (2015–2025):

o Estonia (2x), Poland, and the Czech Republic (~+80%).

• EU average: +40%.

• Smallest increases:

o Spain (+20%), Albania (even less).

• The most expensive housing (2023): Ireland, followed by France and Germany.

• Cheapest: Bulgaria, Hungary, Malta.

Delayed Independence

• High housing costs delay young adults from leaving home.

• EU average age: 26.3 years.

• Lowest: Finland (21.4), Highest: Croatia (31.8).

Property Investment (2023)

• Highest share of GDP in housing:

o Cyprus (8.6%), Italy (7%), Germany (6.9%), France (6.4%).

• Lowest: Poland (2.2%), Greece (2.3%).

• EU average: 5.8% of GDP, ~€1 trillion.