Czech Republic Records Seventh Fastest Increase In House Prices In The EU
According to Eurostat, house prices in the Czech Republic have risen over 70% between 2010 and 2021 – the seventh highest increase in the EU. Rents have also risen significantly, approximately 30% over the last decade, the tenth highest rise in the EU. Photo Credit: KK / BD
Czech Rep., Jul 9 (BD) – Rents and house prices in the EU are continuing to rise, increasing by 0.4% and 2.2% respectively in the first quarter of 2021, compared to Q4 of 2020. This continues a long-term trend; according to Eurostat, between 2010 and 2021, rental costs in the EU have increased by 15.3%, while house prices have increased by 30.9%.
Increasing House Prices and Rents in the EU. Credit: Eurostat.
Among the 27 EU member states, Estonia has seen the most dramatic increase in accommodation costs, with a 140% increase in rents and 128% increase in house prices. Luxembourg saw the second highest growth in house prices (98%), but only negligible growth of 12% in rents between 2010 and 2021.
The Czech Republic reported the seventh-highest increase in house prices, of almost 70%, and an increase in rents of almost 30% over the decade since 2010.
On the other hand, Greece and Cyprus witnessed a drop in both rents and house prices over the same period; house prices and rents in Greece fell by 28.1% and 25.2%, respectively, by far the biggest drop in accommodation costs among EU member states.
House Prices and Rents in EU member states. Credit: Eurostat