Property Index – Real Estate Prices


Archives: Property Index – Real Estate Prices

How Europeans Live and What It Costs Them

This study contains comprehensive information on selected European residential markets – how Europeans live and what it costs them.

Published 2023

The Czech Republic ranks second to last among all European countries in the affordability of owning a home, and it costs on average more than 13 gross annual salaries to buy a property here. In addition, Prague, along with Amsterdam and Bratislava, is among the European capitals with the highest number of annual salaries needed to own a home. This is according to the latest data of the newly published Property Index 2023, which is used by the consulting company Deloitte to monitor how Europeans live and how much it costs them each year.

Previous editions

Published 2022

Residents of the Czech Republic spend the equivalent of 13.3 gross annual salaries to buy a new own 70 sqm apartment. This currently puts the Czech Republic at the top of the Property Index's ranking of unaffordability of own housing. The country with the highest average price of residential properties is the UK, where apartment prices reach a national average of 4,905 EUR per square metre. The most expensive city is again Paris, where new apartments were sold for an average of 13,462 EUR per sqm in 2021. Positive news for the residential market throughout the Europe is that the number of new initiated apartments increased compared to last year in 22 out of 23 countries.

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Published in 2021

Out of the countries observed, the worst affordability of one's own housing is in Serbia, where citizens spend a multiple of 15.2 of their gross annual salaries on an average apartment with area of 70 m2. Compared to the previous year, situation has also worsened in the Czech Republic, where more than 12 gross annual salaries are needed on average to buy a new apartment. Among the cities in the Property Index, the most expensive new housing is in Paris, where the price of a new apartment attacks the limit of 13,000 EUR per m2. It is interesting that new construction is the most successful in Austria, which last year initiated  construction of 10.9 dwellings per 1,000 inhabitants although the average price of a new apartment is the highest among national averages.

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Published in 2020

To acquire a dwelling of 70 sq. metres, Czechs need 11.4 average annual salaries, which is more than in any other European country. In this respect, Czechs ranked first for the fourth consecutive year, closely followed by Serbians (11.3). On the other hand, Belgians and the Portuguese placed on the opposite end of the ranking (4.0). Interestingly, apartment prices in Lisbon and Porto exceeded the Portuguese national average by 164%. The sharpest year-on-year decrease in apartment prices (9%) was seen in Oslo. Paris is no longer labelled as the most expensive city in terms of rent, having been replaced by Luxembourg, which is the only European city with monthly rent exceeding EUR 30 per sq. metre.

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Property index 2020

Published in 2019

The Czech Republic has become the country with the fastest-growing prices of new apartments in Europe, followed by Hungary and the Netherlands. In 2018, Czechs paid more than EUR 2,500 per square metre. This is due to the slow construction of apartments caused by lengthy approval processes, which take almost nine year on average. The most expensive apartments in Europe are, for example, in France and Norway, where the average price per square metre exceeds EUR 4,000.

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Property index 2019

Published in 2018

Czechs have to save for a new housing the longest among European nations. It takes the 11.3 average annual salaries. This is longer than in the UK (9.8), where real estate is the most expensive. Europeans are falling in love with rental housing. The cost of rent varies considerably in Europe. The most expensive of the compared cities is in the centre of Paris (26.4 EUR per m2) and London (26.3 EUR), the cheapest in Ostrava (6 EUR).

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Property Index 2018

Published in 2017

Revenues from apartment rentals in the Czech Republic fluctuate within the preferred range of 4 to 6%. The best yield can be gained in the city of Ostrava. On the other hand the least affordable own housing was for the first time observed in the Czech Republic where citizens need to save almost 11 years to buy a new apartment. Prices of new residential real estate in the Czech Republic are highest compared to the Central European countries, but their year-on-year growth was not as dynamic.

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Property Index 2017

Published in 2016

Compared to other Central European countries, the prices for new housing are the highest in the Czech Republic, however, Czechs are able to earn enough to pay for their new dwelling much faster than people in the rest of the countries. Whereas an average Czech needs an approximately 6.9 multiple of average gross annual salaries to buy a 70 square meter flat, an average Hungarian or Slovene needs more than 7 times the amount of average gross annual salaries and a Brit even 11 times the amount.

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Property Index 2016

Published in 2015

Although the prices of real estate in the Czech Republic are higher than in other Central European countries, they are among the most affordable in the region. On average, Czechs need 7.1 gross annual salaries to buy a new apartment of 70 square meters, in comparison with 7.2 gross annual salaries to be paid in Poland and even 7.8 gross annual salaries in Hungary. 

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Property Index 2015

Published in 2014

Residential real estate in CE countries and Portugal is noticeably cheaper than in WE countries. In our region, the prices of new apartments range from EUR 917 per square metre in Hungary to EUR 1,186 in the Czech Republic.

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Property Index 2014

Published in 2013

Despite a moderate decrease in prices in 2012, Prague remains one of the most expensive Central European cities, with a price for a new dwelling amounting to approximately EUR 2,500/m2.

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Property Index 2013

Published in 2012

The time Europeans with average income need to earn money to buy a new dwelling (70 m2) differs. While a multiple of 2.4 of the average annual gross income is needed to buy a new dwelling in Denmark, it stands at 9.1 in France.

Download the publication from 2012 (PDF)

Property Index 2012
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