In 2022, the average mortgage rates in European countries varied from one percent in Portugal to over nine percent in Hungary. The mortgage rate for a home purchase is decided depending on the individual situation of the homebuyer, their credit history, and income, but they also follow macro determinants including the base lending rate, inflation, economic growth, and the health of the housing market.
Starts, completions and prices
The supply of new housing varies in different countries in Europe. In 2022, the number of new housing units completed per 1,000 citizens was between one and seven, with this number varying greatly in different countries. France and Poland were among the countries with most completed housing units. When it comes to housing starts, Austria tops the ranking. The average transaction price of a new dwelling in 2022 ranged anywhere from roughly 1,000 euros per square meter to under 15,000 euros per square meter.
Housing stock
As the most populous country in Europe, Germany has the largest housing stock. Comparing the number of housing units per 1,000 citizens is an easy way to identify housing shortages. In Greece and the UK, for example, the number of dwellings per 1,000 citizens measured less than 400, compared to Portugal and Bulgaria, where it was around 600.
Average mortgage rates for selected European countries in 2022
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Mortgage rate
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Deloitte. (August 15, 2023). Average mortgage rates for selected European countries in 2022 [Graph]. In Statista. Retrieved July 03, 2024, from https://www.statista.com/statistics/739571/average-mortgage-rate-by-country-europe/
Deloitte. "Average mortgage rates for selected European countries in 2022 ." Chart. August 15, 2023. Statista. Accessed July 03, 2024. https://www.statista.com/statistics/739571/average-mortgage-rate-by-country-europe/
Deloitte. (2023). Average mortgage rates for selected European countries in 2022 . Statista. Statista Inc.. Accessed: July 03, 2024. https://www.statista.com/statistics/739571/average-mortgage-rate-by-country-europe/
Deloitte. "Average Mortgage Rates for Selected European Countries in 2022 ." Statista, Statista Inc., 15 Aug 2023, https://www.statista.com/statistics/739571/average-mortgage-rate-by-country-europe/
Deloitte, Average mortgage rates for selected European countries in 2022 Statista, https://www.statista.com/statistics/739571/average-mortgage-rate-by-country-europe/ (last visited July 03, 2024)
Average mortgage rates for selected European countries in 2022 [Graph], Deloitte, August 15, 2023. [Online]. Available: https://www.statista.com/statistics/739571/average-mortgage-rate-by-country-europe/