Greece recorded the largest drop in property prices and rents within the European Union between 2007 and the third quarter of 2019, data from the European Statistics Authority the Eurostat, has shown.
The largest drops in house prices were observed in Greece (-40.0%), Romania (-27.2%) and Ireland (-16.7%).
Regarding prices for rent, all member states experienced increases except for Greece where prices fell by 17.5%. In Cyprus rent decrease was by 0.3%. The largest increases were recorded in Lithuania (+101.1%), Czechia (+78.6%) and Hungary (+67.8%).
Greece did not follow the EU trend which saw rents grow by 21.0% and house prices by 19.1%.
After an initial sharp drop following the financial crisis, house prices remained more or less stable between 2009 and 2014.
A rapid increase occurred in early 2015 since property prices rose at a much faster pace than rents.
PS due to Airbnb investments, we assume…
