Europe’s various property markets are very mixed, according to a recent study by ERA (European Real Estate Network) release this week.
“Since the beginning of the financial crisis five years have passed and some countries have experienced dramatic corrections, while others resist,” writes the experts at the ERA.
Switzerland and France are the countries where it is most expensive to live in Europe with the average price per square metre in Bern at €9,972 and €8,706 in Paris. The cheapest capitals are Istanbul (€475 psqm), Budapest (€739 psqm), Prague (€1,450) and Lisbon (€1,173).
The report shows that whilst prices recovered in 2013 in Bulgaria and the situation seems to be stabilizing in the Czech Republic, the French, Dutch and Portuguese property markets remain depressed. However, in Belgium, Sweden, Switzerland and Turkey, prices rose in 2013.
In terms of transactions, the variations are equally mixed. Of the eleven markets surveyed, four reported a decline in sales in 2013: Belgium, the Netherlands , the Austria and Portugal . In contrast, the number of transactions increased in France, Germany, Turkey, Sweden and Bulgaria.
FRANCE IS THE AVERAGE ACROSS EUROPE
In terms of credit, the most active countries are France, Belgium and Sweden. With an average rate of 3.1%, France is the European average.
Another indicator of the health of the housing market, the time of sale. They tend to shorten or to stabilize in Austria, Germany, Belgium, so that they lie in the troubled countries like Portugal and the Netherlands. It takes 395 days to sell a property in Portugal, against only 65 days in Sweden. With 95 days, France is, again, the European average.