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.