Since 2010 in the EU has also significantly increased the cost of housing rents.
Prices for renting apartments in the EU since 2010 increased by 17%, and the cost of buying real estate - by 45%. Such figures were announced by the European Bureau of Statistics.
This is reported by Schengenvisainfo.
"Foreigners planning to move to the EU should be prepared for higher rents and house prices as values continued to rise in the first quarter of 2022," says the publication.
EU rent prices rose 1.4 percent in the first quarter of 2022 and home purchase prices rose 10.5 percent from the first quarter of 2021, Eurostat said in a report.
The statistics bureau noted that after a sharp decline between the second quarter of 2011 and the first quarter of 2013, home prices remained stable between 2013 and 2014. Then, in early 2015, there was a rapid rise in prices. And now housing prices in Europe are rising much faster than rents.
Where in the EU housing prices have risen the most.
The highest increase in prices was recorded in such countries:
Estonia (+174%).
Hungary (152%)
Luxembourg (+131%)
On the other hand, declines were observed in Greece (-23%), Italy (-10%) and Cyprus (-8%).
Rents rose in 25 EU member states and fell in two. The price of rents rose the most:
Estonia (+177%)
Lithuania (+127%)
Ireland (+77%)
Rent prices have become lower in Greece (-25%) and Cyprus (-1%).