Residential real estate in Europe - statistics & facts

During the coronavirus pandemic, the European residential real estate market saw an unprecedented boom. As the initial restrictions eased, the strong demand for housing led to house prices soaring. In Estonia, Czechia, Hungary, and Lithuania, house prices rose by over 20 percent between the second quarter of 2021 and the second quarter of 2022, while in the Netherlands, Slovakia, and Latvia, price growth was between 15 and 20 percent. Transaction prices of new housing units varied widely across different countries, with capital cities usually achieving much higher prices than the country average. Unsurprisingly, Europe’s biggest economies – Austria, France, Germany, and the United Kingdom (UK) headed the ranking as the most expensive countries to purchase a home. Geneva was the priciest city for buying an apartment, with a square meter price of over 15,000 euros as of the first quarter of 2022.

The European housing market is diverse

The DACH countries (Switzerland, Germany, and Austria) have some of the lowest homeownership rates, with less than 60 percent of the population living in an owner-occupied home. In the Netherlands, Norway, and Sweden, the homeownership rate is much higher and over 50 percent of the population lives in an owner-occupied home with a mortgage. Besides affordability, the mortgage conditions are crucial when it comes to purchasing a home. Mortgage rates reached record-low in 2021 but started rising in 2022 as consequence of the base lending rate hikes introduced by banks to tackle the soaring inflation. As borrowing costs increase, buying a home becomes less affordable and less home sales take place.

Renting is an alternative

Whether it is because of affordability or a matter of personal choice, renting is common in the bigger European cities. The house price to rent ratio shows that house prices grew faster than rents in the past. In Germany, the house price to rent gap widened by close to 48 percent between 2015 and 2021. In just a year, rents across most major European cities surged: A furnished one-bedroom apartment in Berlin cost on average almost 1,700 euros in the third quarter of 2022, up from about 1,500 a year ago.
This text provides general information. Statista assumes no liability for the information given being complete or correct. Due to varying update cycles, statistics can display more up-to-date data than referenced in the text.
Published by Statista Research Department, Nov 28, 2022

Key insights

Home ownership rate in Europe
70%
Country with the most housing completions per 1,000 citizens
France
Average transaction price of new housing in Austria
4.9k EUR per sq m
Get more insights

Editor’s Picks Current statistics on this topic

Average sales price of new and existing residential property in Europe in 2022, per country (in euros per square meter)

Residential Real Estate

Average residential real estate square meter prices in Europe 2022, by country

Mortgage interest rate in selected European countries as of 4th quarter of 2021 and 4th quarter 2022

Mortgages & Financing

Mortgage interest rate in Europe Q4 2021-Q4 2022, by country

Total housing stock in selected countries in Europe in 2022, by country

Residential Real Estate

Total number of housing units in European countries 2022

Related topics

Recommended

7

Recommended statistics

Overview

7

Overview

Construction and investment

5

Construction and investment

House prices and financing

9

House prices and financing

Rental costs

4

Rental costs

Further reportsGet the best reports to understand your industry

Housing market in the United Kingdom
Housing market in the United Kingdom
Home purchasing in the United Kingdom (UK)
Home purchasing in the United Kingdom (UK)
Local authority and social housing in the UK
Local authority and social housing in the UK
Residential real estate in the Netherlands
Residential real estate in the Netherlands
Residential real estate in Belgium
Residential real estate in Belgium
Housing market in Finland
Housing market in Finland
Residential real estate in Italy
Residential real estate in Italy

Contact

Get in touch with us. We are happy to help.
Statista Locations
Contact Meredith Alda
Meredith Alda
Sales Manager– Contact (United States)
Email
support@statista.com

Mon - Fri, 9am - 6pm (EST)

Contact Yolanda Mega
Yolanda Mega
Operations Manager– Contact (Asia)
Email
asia.support@statista.com

Mon - Fri, 9am - 5pm (SGT)

Contact Kisara Mizuno
Kisara Mizuno
Senior Business Development Manager– Contact (Asia)
Email
support.japan@statista.com

Mon - Fri, 10:00am - 6:00pm (JST)

Contact Lodovica Biagi
Lodovica Biagi
Director of Operations– Contact (Europe)
Email
eu.support@statista.com

Mon - Fri, 9:30am - 5pm (GMT)

Contact Carolina Dulin
Carolina Dulin
Group Director - LATAM– Contact (Latin America)
Email
latam@statista.com

Mon - Fri, 9am - 6pm (EST)

Menu