Annual inflation-adjusted change in house prices in Europe 2010-2024, by country

In 2024, Poland, Bulgaria, and Russia exhibited the highest inflation-adjusted increase in house prices among the countries under observation. In the first quarter of the year, house prices in all three countries grew by over 10 percent in real terms, whereas globally, prices declined by one percent. The country with the highest price drop was Luxembourg, at almost 14 percent. France and Germany also experienced a notable decline in prices, at seven and eight percent, respectively. These figures are based on the development of the real house price index, with 2010 chosen as a baseline year. When looking at the long-term index development, Turkey observed the biggest increase in prices in the region.

When looking at the average house price in the major European markets, Norway emerged as the country with the most expensive residential property. Meanwhile, cities such as Geneva, Zurich, and London had the highest average apartment prices.