Deloitte Property Index 2016
What size of dwelling can people buy for EUR 200,000
This year we are answering the question: “What size of dwelling can you buy for EUR 200,000?” This allows for observation and comparison of residential markets with a new perspective. Our goal is to provide you with European residential market data. How do Europeans live, and how much does it cost them?
The Netherlands is recovering from the financial crisis and shows stable economic growth, decreasing unemployment, and higher consumer confidence than during the crisis years. This economic recovery has caused a spike in demand for housing in the Netherlands, which was accelerated by the historically low interest mortgage rate. This had a positive effect on the development of new residential buildings, increasing by 6% over 2015, and on the average transaction prices. Especially in regions such as Amsterdam, with limited supply and high popularity, prices surged to pre-crisis levels.
Forecasting to 2016 we expect this trend to continue. The continued low mortgage interest rate and the forecasted stable growth of the economy will continue to create demand for residential properties.
Key issues highlighted in the report
- The lowest average size of a new dwelling for EUR 200,000 is in Central London
(11 sq m), followed by Paris (19 sq m). The highest average sizes of new dwelling
were recorded in cities from the CEE region. The biggest dwelling can be
bought in Debrecen with 201 sq m.
- The highest housing development intensity from the European countries
in 2015 was seen in Austria (6.2 completed apartments per 1,000 citizens)
and France (5.5). Similarly to 2014, in 2015 the highest housing development
intensity in all selected countries was seen in Russia (7.6).
- The average housing stock in the European Union in 2015 increased to 486.5
apartments per 1,000 citizens. In a comparison of selected countries, Portugal
reported the greatest housing stock.
- The highest prices per sq m can be observed in the United Kingdom, France,
Israel and Ireland. Out of these, Israel, Ireland and Spain experienced
a significant price growth in 2015.
- The highest price growth was again recorded in Ireland, where new building
prices rose by an astounding (+27.0%). The second highest price growth was in
Israel (+10.8%), followed by Spain with (+10.6 %).The highest price decrease was
observed in Russia (-24.6%).
- Inner London was the most expensive city among surveyed cities with a price
tag reaching an astonishing 18,126 EUR/ sq m. Living outside Inner London is
much cheaper. In comparison, new dwellings in Outer London cost on average
8,575 EUR/ sq m. The second most expensive city after London was inner Paris,
with a price at 10,700 EUR/ sq m (8,000 EUR/ sq m for older dwellings).
- If you are looking for cheap living, Debrecen (Hungary) might be exactly the place for
you. With a price tag of only 997 EUR/ sq m, it is the least expensive city in our
To get more insights into the results, download the report 'Deloitte Property Index 2016'.
About Deloitte Property Index
Property Index is a comparative report regarding residential markets and housing across Europe. It analyses factors influencing the development of residential markets and compares residential property prices in selected (not only) European countries and cities.
Download the 'Deloitte Property Index 2015'.
Do you want to know more? Please contact Paul Meulenberg at +31 (0)88 288 1982.