In recent years, the space of the European Union is indexing real estate prices. So, today, such a decline is characterized by the scale of the seven -year fall in the cost of European housing. Similar information was published on the official website of the European Central Bank.
According to the data provided, over the past quarter, the cost of square meters has reached 96.33 points – the lowest during the existence of the European real estate market. A similar fall was first noticed by analysts in the second quarter of 2006. In some countries of the European Union, indexation overtook the lowest possible level, especially between the states of a single currency block. Such information only displays the economic imbalance within each of the countries, which, one way or another, depends on the budget deficit, unemployment level and real interest rates for the cost of living per person.
For example, in Spain, prices fell to a level marked in 2003, and in Ireland even until 2000. At the same time, in Germany, the prices for the purchase of real estate reached a ten -year maximum, since their own mansions here, according to experts, have only less than half the population. For comparison, in Cyprus 77% of the population has personal, privatized square meters.
Such a boom in Germany was most noticed in large and most popular cities as Munich, the capital – Berlin, Frankfurt. In conditions of low interest rates, people have the opportunity, if not to purchase an apartment, then without unnecessary work to rent or rent housing. One of the factors in the increased interest of the population for real estate is the rapid aging of the population, because most often, the German, retired, pays attention to the purchase of new housing. There is a completely different situation in Russia. Neighboring Austria is also characterized by high housing prices, with common unemployment, and a small presence of privatized housing. Over the past 12 years, prices have reached their maximum point here.
At the same hour, the average price for elite housing, in the central regions of London is about £ 2 million, or 3 million US dollars. Over the past year, the average price for housing in Chelsea, Holland Park, Pimliko and other prestigious areas increased by 9.2%.