Filenews 12 April 2022
Rents and the purchase of property in Cyprus during the decade 2010 - 2021 are negative, according to the data published by the STATISTICAL SERVICE of the EU (Eurostat).
Cyprus and Greece are the only countries among the member states where the curve in the amount of rents and the price for buying a property was downward in the decade from 2010 to 2021. In Greece, however, there should be the largest deviation with negative needs in both sectors, as shown in the table below.
Specifically, since 2010, house prices have more than doubled in Estonia, Hungary, Luxembourg, Latvia, the Czech Republic, Austria and Lithuania.
Comparing the fourth quarter of 2021 with 2010, house prices rose more than rents in 19 EU Member States. House prices rose in 24 EU Member States and fell in three, with the highest increases in Estonia (+156%), Hungary (+128%) and Luxembourg (+124%). Decreases were observed in Greece (-23%, notes), Italy (-12%) and Cyprus (-9%).
Comparing the fourth quarter of 2021 with 2010 for rents, prices rose in 25 EU Member States and fell in two, with the highest increases in Estonia (+171%), Lithuania (+113%) and Ireland (+74%). A decrease was recorded in Greece (-25%) and Cyprus (-1%).
