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Greece has the lowest rental and housing price rises

by Ella on May 29, 2020
Greece has the lowest rental and housing price rises
The data covering the period 2007-2019

As prices for house sales and rental costs across the European Union have been on the rise for the period 2007-2019, Greece holds the record for the sharpest drop in both figures, protothema.gr reports.

The data comes from the latest analysis carried out by Eurostat on the course of the housing market during the last two decades and as it turns out for the whole of the EU, for the period from 2007 to the last quarter of 2019 rents increased by 20.3% and housing prices by 18.7%.

For the last quarter of 2019 to 2007, Greece recorded the largest drop in Europe, according to Eurostat analysis, by 35.6% in terms of housing sales prices.

Greece is worse in terms of rental prices: “Comparing the period of the last quarter of 2019 to 2007 in 26 Member States there was an increase and only in Greece there was a decrease of 17.5%”, the data indicates.

Eurostat also records the countries with the top price rises over the period: Overall, prices increased in 21 EU member states with the highest increase at the end of 2019 compared to 2007 being recorded in Austria at 88.4%, in Luxembourg with 84.8% and Sweden with 80.6%.

The largest rise in rents was in Lithuania with + 101.2%, the Czech Republic with 79.3%, and Hungary with 70.8%.

Only for 2019, in the EU27, prices rose by an average of 4.7% and in the Eurozone by 4.2%. Greece registered higher rates than the average, as shown by the data of the Bank of Greece after the increase in apartment prices for the whole of 2019 rose by 7.2%, for the second consecutive year, compared to a rise of 1.8% in 2018.