In the second quarter of 2024, house prices in the EU countries increased by 1.9% and rents for residential properties increased by 0.7% compared to the first quarter of 2024. Compared to the second quarter of 2023, house prices increased by 2.9% and rents increased by 3.0%.
From 2010 to the second quarter of 2024, house prices and rents in the EU developed differently. Rents grew steadily, while house prices showed more volatile dynamics, alternating periods of decline and then rapid growth . During this period, house prices increased by 52% and rents by 25%.
Comparing the data for the second quarter of 2024 with 2010, it is clear that in 20 EU countries, the growth in residential property prices was higher than in rental prices. In Estonia, house prices increased by 232%, and in Hungary by 218%. House prices more than doubled in Lithuania (+178%), Latvia (+146%), the Czech Republic (+131%), Austria (+111%), Portugal (+106%), Luxembourg (+103%) and Bulgaria (+102%). In Cyprus, house prices remained unchanged, while in Italy they fell by 5%.
As for rents, they have increased in 26 EU countries since 2010. The largest increases were observed in Estonia (+203%), Lithuania (+178%), Ireland (+106%) and Hungary (+104%). The only decrease in rents was recorded in Greece, where they decreased by 18%.
