EU: Mortgage rates and rising construction costs are driving up house prices

Tuesday, Jan 21, 2025

Il Sole 24 Ore

European housing prices rose significantly over ten years; Italy saw an 8.3% increase due to construction costs and limited supply.

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[This is an automatically generated summary, for reference only]

Over the last decade, house prices in Europe have risen by 48%, with Hungary seeing the largest increase at 173% and Finland the smallest at only 5%. In Italy, from 2015 to 2023, price increases were significant but lower than other countries, reaching 8.3%. The main causes of this price inflation include rising construction costs and mortgage rates, a decrease in building which limited supply, and increased property purchases as investments.

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