Housing prices increased in 2020 in almost all European capitals. In Warsaw, the average increase in transaction prices was 5.6 percent year on year. The price of housing increased most in Bratislava, followed by Rome, where prices fell, according to a report by the consulting company Deloitte “Property Index. Overview of European Residential Markets”.
The Deloitte report summarizes the situation on the residential real estate market in 23 European countries and Israel in 2020.
Flats for sale
The report shows that the highest price per square meter of an apartment has to be paid in Austria – EUR 4,457. France is also among the top countries with the highest average prices – EUR 4,421 and Germany – EUR 4,100.
For comparison, in 2020, in 2020, you had to pay an average of EUR 1,581 per square meter of a flat, which meant an increase of 3.98%. “It is most expensive in the capital, where a square meter costs EUR 2,233, but not much cheaper in Gdańsk, where the average price was EUR 1,900” – said Maciej Krasoń, leader of the real estate and construction sector in Central Europe.
Higher prices than in Poland were recorded in the Czech Republic – EUR 2,822 per m2 and in Slovakia – EUR 1,941 per m2. In turn, the cheapest is in Bulgaria – EUR 578 per m2, and in Bosnia and Herzegovina – EUR 881 per m2.
Prices in individual capitals were also compared. Paris remains the most expensive city in terms of price per square meter. In the capital of France, the average prices on the primary market in 2020 were at the level of over 12.9 thousand. euro per m2.
Price increases were recorded in almost all capitals. “Housing prices increased in almost all European capitals in 2020. The only exception was Rome, where prices per square meter fell by 3.11 percent compared to 2019” – noted Maciej Krasoń. The largest increases occurred in Bratislava and Madrid, by 13 percent respectively. and 11.27 percent. Every year. In Warsaw, there was an increase in annual terms by 5.58%.
Number of completed apartments
Poland ranks third in terms of new apartments delivered for use in 2020. It is behind France (381,000) and Germany (306,000). Bosnia and Herzegovina (2.4 thousand) was at the other end of the rate.
“After an initial slowdown in the implementation of recently launched projects and high market uncertainty, the residential real estate sector in Poland revived quickly and returned to the growth path. In 2020, a record number of over 220,000 new apartments were delivered to use in Poland, which means an increase by 6, 7 percent on an annual basis “- noted Dominik Stojek from the real estate advisory department at Deloitte, quoted in the press release.
At the same time – as indicated by Deloitte – the largest number of flats per 1,000 inhabitants was completed on the Vistula – 5.79 flats. Poland is also in the forefront of countries with the largest number of apartments per 1,000 inhabitants, the construction of which began in 2020 – 5.85 apartments. In this respect, our country was only overtaken by Austria (10.85) and Romania (7.52).
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