Over the past ten years, the residential real estate market in the 27 EU member states has seen an average nominal price increase of 66.6%. However, the growth in Italy has been much more modest, standing at 8.8%. This places Italy second to last in Europe, just above Finland (+5.5%). According to an analysis by Abitare Co., based on Eurostat data, Eastern European countries have experienced triple-digit increases, with Hungary (+168%), Lithuania (+114.2%), and the Czech Republic (+111.7%) leading the rankings.
House prices in Europe rose by 66%
Real estate prices in the European market have skyrocketed, especially in the East. Luxembourg and Paris are the most expensive cities, while Milan is eighth in the rank.
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- Lucia Brandoli
- 06 September 2024
In Italy, Milan remains the most expensive city, with an average price of €385,000 for a 70 sqm home, ranking 8th among the most expensive European capitals, followed by Rome in 13th place with €308,000. The most expensive capitals are Luxembourg (€791,000), Paris (€707,000), and Amsterdam (€532,000), while the cheapest are Tallinn, Sofia, and Bucharest.
Opening image: Photo Han Lei from Flickr