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Average mortgage rates for selected European countries as of 2019, by country

In 2019, the average mortgage rates in European countries varied from 4.6 percent in Hungary to 1.1 percent in Portugal. Mortgage rates are decided on a base level of supply and demand, with main macro determinants including factors such as inflation, economic growth and the health of the housing market.

Starts, completions and prices

During 2018, in countries including France, Germany, Poland and the UK, the demand for housing was high. In 2019, over 1.45 million houses were completed across 19 European countries. During the same year, over 1.5 million construction starts of residential dwellings began across 13 European countries. The average transaction price of a new dwelling in 2018 ranged anywhere from four thousand euros per square meter in France to 1.3 thousand euros per square meter in Hungary.

Housing stock

In 2018, the total housing stock in Europe amounted to approximately a quarter of a billion dwellings. Housing numbers are obviously higher in countries with larger populations. Although this is true to some extent, it does not completely relate in terms of dwellings per one thousand citizens.

Average mortgage rates for selected European countries as of 2019, by country

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Release date

June 2020



Survey time period


Supplementary notes

The average mortgage rate is defined as the rate of interest that is charged on a mortgage.

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Statistics on "Mortgage market in Western European countries"

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