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The cheapest and most expensive places to buy property in Europe

2024-04-05 10:11:00, Kosova & Bota CNA
The cheapest and most expensive places to buy property in Europe
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The cost of houses within the eurozone fell by 1.1% during the last three months of 2023. However, within the EU overall, prices were slightly higher. 

Housing prices for the European Union as a whole showed a slight increase of 0.2% for the year, reports " Euronews". 

One of the countries hardest hit by falling property prices was Luxembourg, where house prices fell by 14.4%, following a 13.9% drop in the previous three months. 

The cheapest and most expensive places to buy property in Europe

The biggest price drop was observed in Luxembourg

Property prices in Luxembourg fell to their lowest level since late 2020. The decline was due to a combination of high interest rates and rental investors losing their appetite. There has been a significant decrease in transactions in the housing market. These, by the end of 2023, were actually half the number of deals made in 2022. 

Eight countries in Europe reported declines in house prices for the last three months of 2023, although less dramatically than Luxembourg's. Prices in Germany fell by 7.1% while Finland had a 4.4% drop.

The highest increases in property prices were recorded in Poland, where prices rose by 13%. Bulgaria and Croatia were next, with property prices showing an increase of 10.1% and 9.5% respectively. 

Compared to the previous three months ending in September, prices were down in 11 countries overall. France had a 2.7% drop, while Latvian prices fell 2.5%. News from Italy was more upbeat as prices remained steady. 

The highest increases during that period were recorded in Poland, with 4.8%, Croatia, 3.4% and Ireland, which had an increase of 3%./ CNA 





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