Europe, A Continent Without Home

As a challenge or a political issue in some cases, that is the situation for the people who lives in europe related to home, prices and rents of properties soared, meanwhile availability and affordability have plunged. Just the first fact, between 2010 and 2022, property prices across the 27-member bloc surged by 47%, according to a 2023 Eurostat report.

Rents

The trends in the last years by the owners in big cities is to use the short time rent against the long term, one reason is the high level of tourist every year, and some important events, for example the olympic games in Paris for next weeks, an event with a lot of people from different places of the world, that is the answer because mostly of them say this is the best way to get more profit in this business.  This is just one issue of the increase of the prices for rent in the EU, if we check some cities in Europe, we can find this examples:

Paris

14 m2 900 euros per month, you have to wait an average of six months for rent an small flat in the capital city.

London

The rent of a flat with one room in the city is about 2.500 euros, meanwhile the average salary is 2.600 euros per month.

Tallinn

Property prices in the country went up by 192% between 2010 and 2022.

Evolution of house prices and rents

House prices up by 47% in the EU between 2010 and 2022

Looking at the trend of house prices between 2010 and 2022, there has been a steady upwards trend since 2013 with particularly large increases between 2015 and 2022. In total, there was an increase of 47% between 2010 and 2022. There were increases in 24 Member States and decreases in 2 over this period (data for Greece not available) . The largest increases were observed in Estonia (+192%), Hungary (+172%) and Luxembourg (+135%), while decreases were registered in Italy (-9%) and Cyprus (-5%).

Rents up by 18%

There has been a steady increase of rents in the EU between 2010 and 2022 – in total 18% during the whole period. There was an increase in all Member States except Greece (-25%). The largest increases were registered in Estonia (+210%), Lithuania (+144%) and Ireland (+84%). In Cyprus the increase was only +0.2%.

In conclusion, we have a big issue in this area, if we do not create a solution, next generations will pay the price of can not access to their own home, in words of some citizens; “without it a safe place to live, people stop forming families, building a future, putting down roots, developing, and prospering. They lose all perspective. Their lives freeze. That is the tragedy.”