European Housing Report

Europe’s diversity is clearly reflected in the European real estate market. According to the currently published RE/MAX Europe Housing Report, historically low interest rates are the only common denominator. In the majority of European real estate markets, they have caused a slowly increasing demand and moderately rising prices.

The economic crisis is not yet over, but prices recover

The RE/MAX Europe Housing Report functions as a brief overview of the European real estate market and a price index based on internal RE/MAX data. According to it, many countries in Europe are still fighting with the economic crisis, but prices start to recover again. In Italy, Spain and Finland prices for residential sales and rentals increased, a little between 0.5 and 1.8 percent. In France and Austria, prices in the past 12 months have been stable and RE/MAX experts expect no change of this trend. For the Czech Republic and Romania the same is true for residential rental properties, whereas sales prices have gone up by approximately 5 percent since 2015. 

The situation in Portugal, Germany and Turkey looks differently: The costs for properties skyrocketed with price increases of more than 10 percent. However, if you look closely you see that prices vary a lot between urban and rural areas. Due to a growing population, the refugee crisis and – in some areas – not enough listings, the demand for real estate in cities is growing rapidly and therefore prices are as well. 

For Greece, Slovakia and Switzerland a general statement or consistent picture can’t be made: Prices are either quite steady or only slightly increasing or decreasing on these markets.

Higher increase for sales prices expected

Many European regions named local politics and international developments (f.e. BREXIT, refugee crisis etc.) as crucial in terms of the development of the housing market.

Michael Polzler, Managing Director of RE/MAX Europe

About the RE/MAX Europe Housing Report

The RE/MAX Europe Housing Report functions as a brief overview of the European real estate market and its current and future price developments for residential sales and rental properties. All numbers are averages of internal RE/MAX data from the respective countries and do not differentiate between urban and rural areas nor the different property types.