Both the house prices and the rents have grown exponentially in Estonia compared with the rest of the European Union – the house prices in Q2 2022 were up 196% and the rents were up 214%, compared with 2010.
According to Eurostat, the EU’s official statistics agency, between 2010 and the second quarter of 2022, the house prices had grown the most in the EU in Estonia and Hungary – 196% and 168%, respectively. The biggest drop in house prices in the EU occurred in Greece and Italy – 23% and 8%, respectively.
In the same time period, the rental prices grew the most in Estonia and Lithuania – 214% and 139%, respectively. The biggest drop in the rental prices happened, again, in Greece – 24% – and Cyprus – 0.2%.
🏘️Comparing Q2 2022 with 2010, EU house prices increased⬆️ most in:— EU_Eurostat (@EU_Eurostat) October 7, 2022
According to Eurostat, the rents and house prices in the EU have continued their steady increase in the second quarter of 2022, going up by 1.7% and 9.9%, respectively, compared with the second quarter of 2021.
“House prices and rents in the EU followed a similar path between 2010 and the second quarter of 2011. However, after this quarter, 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,” Eurostat said.
“When comparing the second quarter of 2022 with 2010, house prices increased more than rents in 19 EU member states,” the statistics agency said.