In the first quarter in most European countries, cheaper housing

01.06.2011 12:09
Real Estate Market Analysis | In the first quarter in most European countries, cheaper housing In many real estate markets in Europe, have been severely hit by the economic crisis in the first quarter of 2011 the cost of housing has continued to gradually decline. Nevertheless, the period of severe collapse in prices is over, analysts say.

Real estate portal Global Property Guide has analyzed the situation in the real estate markets in 39 countries worldwide. According to this study, in the first quarter of this year in 23 countries have been falling home prices, and in 16 - housing more expensive.

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Home prices in Europe for the most part went down. Most serious analysts have recorded a fall in prices in Ireland, Bulgaria and Spain - minus 13.1%, 10.2% and 7.9% year on year respectively.

In other European countries also experienced gradual decline in home prices: Iceland (-0.8%), Poland (-2.7%), Slovenia (-3.8%), Lithuania (-4.4%), Slovakia ( -5.6%), Croatia (-6.7%).

Property in the UK, after rising 5.5% last year, in the first quarter of 2011 fell by 4,4% in annual terms. Housing prices in Portugal declined by 6.15% after rising 3.3% in 2010. The real estate market in Germany remains stable - minus 0.1% on an annualized basis.

In some European countries in the first quarter of housing still more expensive. For example, in Norway, the value of residential real estate rose by 6,9%, housing in Austria (Vienna) has risen in price by 6,5%, houses and apartments in France - on 2,7%. Real estate in Switzerland, where prices are rising for the past ten years, in the first quarter of 2011 increased by 1% on an annualized basis.

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