Housing prices in the EU have increased by 48% between 2010 and 2023, according to Eurostat.
In 2023, the highest housing costs were recorded in Ireland (twice the EU average), Luxembourg (+86%), and Denmark (+80%). The most affordable housing is found in Bulgaria and Poland, with prices 61% and 56% below the EU average, respectively. The sharpest price increases occurred in Estonia (+209%), Hungary (+191%), and Lithuania (+154%).
Price decreases were observed only in Italy (-8%) and Cyprus (-2%). Over the same period, rents rose by an average of 22%, with the most significant increases in Estonia (+211%), Lithuania (+169%), and Ireland (doubling). On average, EU residents spend 19.7% of their income on housing, though this figure is much higher in Greece (35.2%) and Luxembourg (27.6%).
Housing debt in the EU has declined from 12.4% (2010) to 9.3% (2023), but nearly half of Greece’s population is in debt. Approximately two-thirds of the EU population owns their home, with Romania leading at 95%.
Renting is most common in Switzerland and Germany. Investments in real estate account for 5.8% of the EU’s GDP, with the highest share in Cyprus (8.6%) and the lowest in Poland (2.2%).
