A comparative study of rental and real estate prices shows that since 2010, both have increased more in Estonia than in any other European Union (EU) country.
According to Eurostat, rental prices in Estonia have increased by 212 percent between 2010 and the first quarter (Q1) of this year, the highest increase in the EU. In second place is Lithuania, where prices have risen by 165 percent over the same period. The only EU country which has seen a decrease in prices during this time, however, is Greece, where rental prices have fallen 22 percent.
In Finland, rental prices have risen by nearly 30 percent since 2010, while the average price increase in the EU for this time period is around 20 percent.
No reductions in rental prices are currently expected. However, compared to last year, the growth in real estate prices has gradually begun to slow down.
The average real estate price increase in EU countries over the last 13 years is almost 50 percent. However, in Estonia, real estate prices have tripled during this time. In Hungary, they are 1.8 times higher now than in 2010, and in Lithuania, real estate costs almost 1.5 times more than 13 years ago.
Real estate prices have fallen in Greece (by 14 percent), Italy (nine percent), and Cyprus (two percent) during the same time period. However, the data on Greek prices was taken from 2022, rather than the first quarter of this year.
ERR News
