2016
European HousingReport
EuropeanSummary
Source: Survey of European RE/MAX independently owned and operated regional sub-franchises.
+44%AVERAGE DIFFERENCE IN m2 SALES PRICE FOR HOUSES URBAN VS. RURAL AREA IN 2016
PAGE 02Source: RE/MAX pan-European consumer survey, January 2016. www.at-home-in-europe.eu
61%OF EUROPEANS OWN THE HOME THEY LIVE IN
+64%AVERAGE DIFFERENCE IN m2 SALES PRICE FOR APARTMENTS URBAN VS. RURAL AREA IN 2016
RURAL URBAN
RURAL URBAN
Good loan conditions and incentives — especially for first-time buyers — high demand, and growing prices will shape the European real estate market in upcoming months.
We’re seeing low interest rates, and therefore cheap loans, in almost all European countries currently. Favourable eco-nomic conditions are leading to active real estate markets. New properties are being built, for example, in Slovakia and Estonia, while in Malta, the rental market is getting stronger thanks to a growing number of foreign employees living on the island. Markets like Portugal, Greece, and Scotland are recovering well, showing clear signs of improved stability and increased transactions in the future.
In general, sales and rental prices increased between 2015 and 2016, especially for properties in cities, where square meter prices rose dramatically. In some cities in Lithuania, Germany, and Luxemburg, for example, the increase of sales prices for apartments was as high as 13 %. Further increase is expected, except for France, Greece, and Swit-
The RE/MAX Europe Housing Report functions as a brief overview of the European real estate market and its current and future price developments for residential sales and rental properties. All numbers are average and approximate figures sourced from internal RE/MAX data and general market data for each respective participating country.
zerland where prices should remain steady in 2017. Sales prices for houses in the countryside have grown as well, and are expected to further increase in 2017 by about 4 % in Austria and Estonia. Rental prices also rose in 2016, by 10 % for urban apartments in the Netherlands, Romania, and Spain, and by as much as 16% in Malta. For most countries, property rental prices are forecasted to increase further or hold steady next year.
Location is still one of the most important criteria for price differences; average sales prices for apartments differ by as much as 64 % between properties in urban areas or the countryside. For houses, the difference is as high as 44 %. While mixed areas are expanding in countries like Germany, in Italy, young people prefer the central areas of major cities to reduce their commuting time.
Austria – Low
interest and high demand has m
ade a boom
market in A
ustria, with urban apartm
ents expected to have the largest sales price increase in the country.
In 2016, the sales price for apartments averaged
207,998 Euros in urban areas and 182,823 Euros in the countryside. H
ouse prices in cities averaged 463,248 Euros, w
ith distinctly cheaper prices found w
hen buying in the countryside. The increase from
2015 is especially high for houses (up 9.1 % in urban
areas per square meter). W
ith sales prices forecasted to rise by 5.9 %
in 2017, urban apartments are expected
to have the highest price increase in the Austrian real
estate market.
Rental prices for apartm
ents in cities are expected to increase by 4.1 %
in 2017, as opposed to those in rural areas w
here prices are estimated to drop by 2 %
. The rental m
arket for houses is insignificant in Austria, both
in cities and in the countryside.
PA
GE
03S
ource: Survey of European R
E/M
AX independently ow
ned and operated regional sub-franchises.
AU
ST
RIA
Euro/m
2
2016
2015
2017(forecast)
3,503
Houses
Apartm
ents
Capital/U
rban Region
Countryside
3,822
2016
2015
2017(forecast)
2,345
2,190
Capital/U
rban Region
Countryside
3,442
3,384
2,906
2,774
10.50
10.30
7.30
7.20
9.50
9.30
7.50
7.50
AV
ER
AG
E
SA
LES
PR
ICE
AV
ER
AG
E
RE
NTA
L PR
ICE
SA
LE
S P
RIC
ES
AN
D R
EN
TA
L P
RIC
ES
2.0%
2.0%
4.1%
2.5%
5.9%
4.1%
-1.3%
-2.0%
Austria
Source: P
opulation and value of real estate activities vs. GD
P: Eurostat, February 2017. http://ec.europa.eu/eurostat, A
verage mean w
age: ww
w.w
ikipedia.org
AU
ST
RIA
PO
PU
LA
TIO
N
8,700,471
RE
AL E
STA
TE
VS
. GD
P 2015
9.0%
AV
ER
AG
E N
ET M
ON
TH
LY W
AG
E
€ 2,009
€ 3,550,000
MO
ST
EX
PE
NS
IVE
RE
SID
EN
TIA
L P
RO
PE
RT
Y
SO
LD
BY
RE
/MA
X IN
2016 V
IEN
NA
1130
Shorter supply D
emand for properties
continues to be very good Generally increasing
prices A positive m
arket environment thanks
to low interest rates and lack of alternative
investment opportunities
FU
TU
RE
TR
EN
DS
PA
GE
04N
umbers represent search interest relative to the highest point on the chart. The trends graph is designed to show
you w
hether popularity is increasing or decreasing and search terms are relative to each other. This doesn‘t convey absolute search volum
e. S
ource: Google Trends (C
ategory real property listings), March 2017. w
ww
.google.com/trends
1007550250
Land
House
Apartm
ent
According to G
oogle Trends, in Austria the relative popularity of the search
term “H
aus” (house) is on average 60 % higher than of the term
“Wohnung”
(apartment). O
ver the past five years both terms had the sam
e seasonal va-riation w
ith search volume reaching highs during the sum
mer periods, w
hile searches for “G
rundstück” (land) remain relatively low
throughout the year.G
OO
GL
E S
EA
RC
H IN
TE
RE
ST
20122016
20152014
20132017
The Czech R
epublic
PA
GE
06P
AG
E 05
Source: P
opulation and value of real estate activities vs. GD
P: Eurostat, February 2017. http://ec.europa.eu/eurostat, A
verage mean w
age: ww
w.w
ikipedia.org
Source: S
urvey of European RE
/MA
X independently owned and operated regional sub-franchises.
Euro/m
2
2016
2015
2017(forecast)
1,481
Houses
Apartm
ents
Capital/U
rban Region
Countryside
1,525
2016
2015
2017(forecast)
503
494
Capital/U
rban Region
Countryside
2,218
2,112
788
750
6.00
6.00
4.00
4.00
6.34
6.25
4.18
4.15
AV
ER
AG
E
SA
LES
PR
ICE
AV
ER
AG
E
RE
NTA
L PR
ICE
SA
LE
S P
RIC
ES
AN
D R
EN
TA
L P
RIC
ES
3.0%
2.0%
5.0%
5.0%
The Czech R
epublic – A grow
ing market w
ith increa-sing sales prices leads to 8 %
RE
/MA
X market share.
In 2016, sales prices for apartments in urban areas
reached an average of 2,218 Euros per square meter, but
only 788 Euros in rural areas, a huge price gap of 181 %.
This is a 5 % increase over 2015 and both price levels are
expected to rise an additional 5 % in 2017. S
ales prices for houses w
ill also increase, but not as strongly.
The rental market is m
ore stable. Urban apartm
ents could be rented in 2016 for around 444 Euros per m
onth and 295 Euros in the countryside. R
ental prices for houses are typically m
ore expensive; renting a house in the city in 2016 cost an average 1,050 Euros per m
onth, while the average rural price w
as 793 Euros. R
ental prices are expected to remain stable in 2017.
TH
E C
ZE
CH
RE
PU
BLIC
PO
PU
LA
TIO
N
10,553,843
RE
AL E
STA
TE
VS
. GD
P 2015
7.6%
€ 2,666,666
MO
ST
EX
PE
NS
IVE
PR
OP
ER
TY
S
OL
D B
Y R
E/M
AX
IN 2016
PR
AG
UE
− C
OM
ME
RC
IAL
Num
bers represent search interest relative to the highest point on the chart. The trends graph is designed to show you
whether popularity is increasing or decreasing and search term
s are relative to each other. This doesn‘t convey absolute search volume.
Source: G
oogle Trends (Category real property listings), M
arch 2017. ww
w.google.com
/trends
1007550250
Land
House
Apartm
ent
In the Czech R
epublik, the search term “byt” (apartm
ent) is more popular than
the search term “dům
” (house), while the relative search volum
e for “pozemek”
(land) is rather low. S
earches for all three real estate terms som
etimes overlap,
though, and are extremely volatile.
GO
OG
LE
SE
AR
CH
INT
ER
ES
T
20122016
20152014
20132017
Reduced num
ber of properties for sale G
rowing m
arket Rising sales prices
FU
TU
RE
TR
EN
DS
AV
ER
AG
E N
ET M
ON
TH
LY W
AG
E
€ 824
Estonia
PA
GE
08P
AG
E 07
Source: P
opulation and value of real estate activities vs. GD
P: Eurostat, February 2017. http://ec.europa.eu/eurostat, A
verage mean w
age: ww
w.w
ikipedia.org
Estonia – R
ising salaries, more private investm
ent, and good loan conditions have boosted sales prices in a favourable m
arket for both buyers and sellers.
IIn 2016, a semi-detached house w
as sold for 160,000 Euros in urban areas, a strong increase over 2015. A
n urban apartment w
ith 50-60 square meters could be
bought for 88,000 Euros. Sales prices for apartm
ents
and houses are expected to increase by as much as
6 % in 2017.
The rental market is m
ore stable. In 2016, an apartment
cost about 500 Euros per month in the city and
200 Euros in the countryside, with no change from
2015. R
ental prices will rise at a low
er rate for apartments
and remain steady for houses.
ES
TON
IA
PO
PU
LA
TIO
N
1,315,944
RE
AL E
STA
TE
VS
. GD
P 2015
8.7%
Euro/m
2
2016
2015
2017(forecast)
1,200
Houses
Apartm
ents
Capital/U
rban Region
Countryside
1,300
2016
2015
2017(forecast)
440
400
Capital/U
rban Region
Countryside
1,519
1,437
590
560
10.00
10.00
3.00
3.00
10.00
10.00
3.00
3.00
AV
ER
AG
E
SA
LES
PR
ICE
AV
ER
AG
E
RE
NTA
L PR
ICE
SA
LE
S P
RIC
ES
AN
D R
EN
TA
L P
RIC
ES
3-5
%4
-6%
3-5
%
1-2%
4-6
%
2-3%
€ 1,500,000
MO
ST
EX
PE
NS
IVE
RE
SID
EN
TIA
L P
RO
PE
RT
Y
SO
LD
BY
RE
/MA
X IN
2016 T
AL
LIN
N −
LA
ND
PL
OT
FO
R D
EV
EL
OP
ING
A
PA
RT
ME
NT
BU
ILD
ING
New
apartment developm
ent in urban areas.
More transactions w
ith new apartm
ents.
Grow
ing number of private investors
purchasing rental apartments.
Good loan conditions (low
interest rates, increasing turnover of new
loans).
Favorable conditions for home buyers
thanks to rising salaries and a low
unemploym
ent rate.
Population increase in the capital Tallinn, but decrease in other regions.
FU
TU
RE
TR
EN
DS
Source: S
urvey of European RE
/MA
X independently owned and operated regional sub-franchises.
No G
oogle Trends available due to lack of data.
AV
ER
AG
E N
ET M
ON
TH
LY W
AG
E
€ 945
PA
GE
10P
AG
E 09
Source: P
opulation and value of real estate activities vs. GD
P: Eurostat, February 2017. http://ec.europa.eu/eurostat, A
verage mean w
age: ww
w.w
ikipedia.org
Finland – Econom
ic confidence means even
more m
arket growth on par w
ith last year’s price increases.
In 2016, one had to pay an average of 240,000 Euros for apartm
ents in the cities, compared to 110,826 Euros in
the countryside, reflecting a moderate increase of 2.6 %
and 2 %
over 2015, respectively. Sales prices for apart-
ments in Finland are expected to increase in 2017 by
3 %, w
hereas sales prices for houses will only increase
by 1 %.
Rental prices for apartm
ents in urban areas are expec-ted to increase as m
uch as 2 %, w
hile prices should rem
ain steady for all other types of properties regard- less of location or size.
FINLA
ND
Finland
PO
PU
LA
TIO
N
5,487,308
RE
AL E
STA
TE
VS
. GD
P 2015
10.9%
€ 4,300,000
MO
ST
EX
PE
NS
IVE
RE
SID
EN
TIA
L P
RO
PE
RT
Y
SO
LD
BY
RE
/MA
X IN
2016 H
EL
SIN
KI −
BU
ILD
ING
WIT
H S
EV
ER
AL
AP
AR
TM
EN
TS
Strong consum
er confidence in Finland’s econom
y.
Rising expectations of personal
financial circumstances.
Optim
istic assessment
of unemploym
ent solutions.
Significant grow
th expected in the real estate industry.
FU
TU
RE
TR
EN
DS
Euro/m
2
2016
2015
2017(forecast)
3,138
Houses
Apartm
ents
Capital/U
rban Region
Countryside
3,196
2016
2015
2017(forecast)
1,472
1,463
Capital/U
rban Region
Countryside
4,205
4,097
1,960
1,922
13.50
12.50
11.00
10.00
17.93
17.00
11.55
11.34
AV
ER
AG
E
SA
LES
PR
ICE
AV
ER
AG
E
RE
NTA
L PR
ICE
SA
LE
S P
RIC
ES
AN
D R
EN
TA
L P
RIC
ES
1.0%
1.0%
3.0%
3.0%
2.0%
Source: S
urvey of European RE
/MA
X independently owned and operated regional sub-franchises.
No G
oogle Trends available due to lack of data.
AV
ER
AG
E N
ET M
ON
TH
LY W
AG
E
€ 2,509
PA
GE
12P
AG
E 11
Source: P
opulation and value of real estate activities vs. GD
P: Eurostat, February 2017. http://ec.europa.eu/eurostat, A
verage mean w
age: ww
w.w
ikipedia.org
France – Prices hold steady am
id political and econom
ic uncertainty.
In 2016, urban apartments sold for an average price
of 5,440 Euros per square meter, a 2.6 %
increase over 2015. A
ll other sales prices have remained nearly flat in
France and are expected to remain so in 2017.
Betw
een 2015 and 2016, the average urban apartment
rental price declined slightly from 22 to 21 Euros per
square meter —
a 4.5 % decrease —
but remained
stable at 7 Euros in the countryside. In general, rental prices are expected to rem
ain steady in 2017.
FRA
NC
E
France
PO
PU
LA
TIO
N
66,661,621
RE
AL E
STA
TE
VS
. GD
P 2015
11.4%
€ 1,525,000
MO
ST
EX
PE
NS
IVE
RE
SID
EN
TIA
L P
RO
PE
RT
Y
SO
LD
BY
RE
/MA
X IN
2016 P
AR
IS (7T
H D
IST
RIC
T)
According to G
oogle Trends, in France people search three times m
ore often for “m
aison” (house) than for “apartement” (apartm
ent). Most searches take
place in August, w
ith expected dropoff in Decem
ber. The relative popularity for “terrain” (land) rem
ains low and static throughout the year.
GO
OG
LE
SE
AR
CH
INT
ER
ES
TE
uro/m2
2016
2015
2017(forecast)
3,095
Houses
Apartm
ents
Capital/U
rban Region
Countryside
3,130
2016
2015
2017(forecast)
2,050
2,010
Capital/U
rban Region
Countryside
5,440
5,300
2,020
2,160
15.00
16.00
8.00
8.00
21.00
22.00
7.00
7.00
AV
ER
AG
E
SA
LES
PR
ICE
AV
ER
AG
E
RE
NTA
L PR
ICE
SA
LE
S P
RIC
ES
AN
D R
EN
TA
L P
RIC
ES
Source: S
urvey of European RE
/MA
X independently owned and operated regional sub-franchises.
Num
bers represent search interest relative to the highest point on the chart. The trends graph is designed to show you
whether popularity is increasing or decreasing and search term
s are relative to each other. This doesn‘t convey absolute search volume.
Source: G
oogle Trends (Category real property listings), M
arch 2017. ww
w.google.com
/trends
1007550250Land
House
20122016
20152014
20132017
Apartm
ent
Slight grow
th of real estate market
expected Tax-related uncertainties due to presidential election Increase of
loan rates
FU
TU
RE
TR
EN
DS
AV
ER
AG
E N
ET M
ON
TH
LY W
AG
E
€ 2,157
PA
GE
14P
AG
E 13
Source: P
opulation and value of real estate activities vs. GD
P: Eurostat, February 2017. http://ec.europa.eu/eurostat, A
verage mean w
age: ww
w.w
ikipedia.org
Germ
any – A large influx of relocations to the city
makes for stunning grow
th in the rural rental market
as the housing bubble grows.
On average, an apartm
ent in a Germ
an city could be bought for 300,000 Euros in 2016, an increase of 11 %
over 2015. A
partments in the countryside have sold for
around half that price. Urban houses and apartm
ents are expected to show
rising prices of about 5 % in
2017, while sales prices of properties in rural areas w
ill grow
by just 2 %.
The high increase of rural square meter rents betw
een 2015 and 2016 in G
ermany is rem
arkable: over 16.7 %
for apartments and 6.7 %
for houses. These are expected to increase slow
ly in 2017, but rents for urban houses could rise by as m
uch as 4 %.
GE
RM
AN
Y
Germ
any
PO
PU
LA
TIO
N
82,162,000
RE
AL E
STA
TE
VS
. GD
P 2015
9.8%
€ 3,000,000
MO
ST
EX
PE
NS
IVE
RE
SID
EN
TIA
L P
RO
PE
RT
Y
SO
LD
BY
RE
/MA
X IN
2016 S
YL
T −
VA
CA
TIO
N H
OU
SE
Google Trends data show
s the relative popularity of the search terms “H
aus” (house) and “W
ohnung” (apartment) constantly increasing over tim
e, while
searches for “Grundstück” (land) rem
ain low and stable in com
parison. There are slightly m
ore searches for houses than for apartments, but both search
terms follow
the same seasonality, reaching their peaks in A
ugust.G
OO
GL
E S
EA
RC
H IN
TE
RE
ST
Euro/m
2
2016
2015
2017(forecast)
4,000
Houses
Apartm
ents
Capital/U
rban Region
Countryside
4,200
2016
2015
2017(forecast)
1,850
1,700
Capital/U
rban Region
Countryside
3,700
3,300
1,700
1,500
14.00
12.00
8.00
7.50
10.00
9.50
7.00
6.00
AV
ER
AG
E
SA
LES
PR
ICE
AV
ER
AG
E
RE
NTA
L PR
ICE
SA
LE
S P
RIC
ES
AN
D R
EN
TA
L P
RIC
ES
5.0%
4.0%
2.0%
5.0%
2.0%
1.0%
2.0%
Source: S
urvey of European RE
/MA
X independently owned and operated regional sub-franchises.
Num
bers represent search interest relative to the highest point on the chart. The trends graph is designed to show you
whether popularity is increasing or decreasing and search term
s are relative to each other. This doesn‘t convey absolute search volume.
Source: G
oogle Trends (Category real property listings), M
arch 2017. ww
w.google.com
/trends
1007550250
Land
House
Apartm
ent
20122016
20152014
20132017
Low interest rates In Large C
ities: Low
supply but high demand for properties, M
ixed rural/urban regions continue to expand,
Housing bubble grow
s In the Countryside:
Exodus from the countryside to the urban regions,
Uncertain w
orking conditions require higher flexibility of housing choice
FU
TU
RE
TR
EN
DS
AV
ER
AG
E N
ET M
ON
TH
LY W
AG
E
€ 2,265
PA
GE
16P
AG
E 15
Source: P
opulation and value of real estate activities vs. GD
P: Eurostat, February 2017. http://ec.europa.eu/eurostat, A
verage mean w
age: ww
w.w
ikipedia.org
Greece – A
fter a lengthy contraction, the real estate m
arket starts to bounce back with a stability in
sales prices and a modest increase in rents, w
ith m
ore steadiness in the forecast.
In 2016, an apartment could be bought for average
92,200 Euros in the city and average 67,000 Euros in the countryside —
a decline from 2015 of 1.9 %
for urban apartm
ents and an increase of 3.0 % for apartm
ents in
the countryside. The forecast for 2017 is more positive,
with hope for steady sales prices for apartm
ents as well
as houses.
Rental prices are grow
ing, however, reaching betw
een 530 and 450 Euros a m
onth in 2016, depending on the location, for a price increase betw
een 0.9 % and 2.3 %
. R
ental prices are expected to remain steady in 2017.
GR
EE
CE
Greece
PO
PU
LA
TIO
N
10,783,748
RE
AL E
STA
TE
VS
. GD
P 2015
15.8%
Real estate prices are stabilizing
after a long period of contraction, while the
number of transactions has been increasing since 2014.
Overall positive outlook, as risk of further
market decline is m
arginal.
Investors from abroad are attracted
by the relatively low prices and the
Golden Visa program
.
Real Estate is still regarded as a
good investment alternative, in com
bination w
ith attractive prices.
Banks are w
illing to offer loans, under strict preconditions of lending.
The Greek econom
y seems to be stabilizing
with a positive outlook.
FU
TU
RE
TR
EN
DS
SA
LE
S P
RIC
ES
AN
D R
EN
TA
L P
RIC
ES
Euro/m
2
2016
2015
2017(forecast)
940
Real estate properties
Capital/U
rban Region
Countryside
922
2016
2015
2017(forecast)
670
650
AV
ER
AG
E
SA
LES
PR
ICE
AV
ER
AG
E
RE
NTA
L PR
ICE
5.30
5.25
4.50
4.40
No separate data per
property type (house vs. apartm
ent) available.
Source: S
urvey of European RE
/MA
X independently owned and operated regional sub-franchises.
No G
oogle Trends available due to lack of data.
AV
ER
AG
E N
ET M
ON
TH
LY W
AG
E
€ 947
PA
GE
18P
AG
E 17
Source: P
opulation and value of real estate activities vs. GD
P: Eurostat, February 2017. http://ec.europa.eu/eurostat, A
verage mean w
age: ww
w.w
ikipedia.org
Italy – While overall transactions have increased and
rental prices grow, an uncertain political environ-
ment has kept sales prices in decline.
During 2016 there w
as a slight decline in prices compa-
red to 2015; house prices in the capital were an average
of 204,990 Euros in 2016, compared to 212,025 in 2015.
In this time period, and regardless of their location, sales
prices of apartments and houses declined betw
een
1.9 % and 3.3 %
. Real estate experts hope for a recovery
in 2017, with rising prices in urban areas and steady
prices in the countryside.
The rental market, on the other hand, is show
ing price increases by as m
uch as 1.3 % for apartm
ents and 2.4 %
for houses. In 2017, apartment rents are expected
to increase further, but remain stable for houses.
ITALY
Italy
PO
PU
LA
TIO
N
60,665,551
RE
AL E
STA
TE
VS
. GD
P 2015
12.5%
€ 2,500,000
MO
ST
EX
PE
NS
IVE
RE
SID
EN
TIA
L P
RO
PE
RT
Y
SO
LD
BY
RE
/MA
X IN
2016 R
OM
E −
VIL
LA
WIT
H S
WIM
MIN
G P
OO
L A
ND
PA
NO
RA
MIC
VIE
W IN
AN
E
XC
LU
SIV
E R
ES
IDE
NT
IAL
AR
EA
In Italy, the relative search popularity of the three property types is quite similar
to France; people search on average for “casa” (house) more than three tim
es as often as for “appartam
ento” (apartment). W
hile searches for “terreno” (land) are low
, relative search volume for houses and apartm
ents show a typical low
in D
ecember and has increased slightly over the past tw
o years.G
OO
GL
E S
EA
RC
H IN
TE
RE
ST
Euro/m
2
2016
2015
2017(forecast)
1,414
Houses
Apartm
ents
Capital/U
rban Region
Countryside
1,367
2016
2015
2017(forecast)
798
825
Capital/U
rban Region
Countryside
2,117
2,158
1,236
1,260
7.27
7.10
4.58
4.47
9.14
9.02
5.76
5.69
AV
ER
AG
E
SA
LES
PR
ICE
AV
ER
AG
E
RE
NTA
L PR
ICE
SA
LE
S P
RIC
ES
AN
D R
EN
TA
L P
RIC
ES
0-1.0
%0
-2.0%
0-1.0
%0
-1.0%
Source: S
urvey of European RE
/MA
X independently owned and operated regional sub-franchises.
Num
bers represent search interest relative to the highest point on the chart. The trends graph is designed to show you
whether popularity is increasing or decreasing and search term
s are relative to each other. This doesn‘t convey absolute search volume.
Source: G
oogle Trends (Category real property listings), M
arch 2017. ww
w.google.com
/trends
1007550250
Land
House
Apartm
ent
20122016
20152014
20132017
Italians start to see real estate as a valid safe-haven investm
ent asset Convenient
mortgage loans w
ith low interest 14 %
increase in property transactions but prices still tend to
decrease Skepticism
and lack of confidence in current governm
ent Young people again consider living in the central areas of m
ajor cities to reduce com
muting tim
e
FU
TU
RE
TR
EN
DS
AV
ER
AG
E N
ET M
ON
TH
LY W
AG
E
€ 1,762
PA
GE
20P
AG
E 19
Source: P
opulation and value of real estate activities vs. GD
P: Eurostat, February 2017. http://ec.europa.eu/eurostat, A
verage mean w
age: ww
w.w
ikipedia.org
Lithuania – A robust m
arket with the highest prices
since 2008 keeps booming in 2017, buoyed by higher
salaries and low interest rates.
The Lithuanian real estate market is characterized by
sharply rising prices for both sales and rentals. In 2016, an urban apartm
ent had a square meter sales price of
1,325 Euros, nearly 14 % percent higher than 2015.
In the countryside, prices increased more slow
ly but w
ere still remarkable, w
ith an average increase of
5 -9 %. S
ales prices are expected to increase further in 2017, but only at 4 -5 %
.
The monthly rental price for a rural house w
as about 310 Euros in 2016, and tw
ice as much for a house in an
urban area. At the sam
e time, rents for apartm
ents in the countryside w
ent up by 14.8 %, but only by 9.1 %
in cities. R
ental prices are forecasted to remain steady
in 2017.
LITH
UA
NIA
Lithuania
PO
PU
LA
TIO
N
2,888,588
RE
AL E
STA
TE
VS
. GD
P 2015
6.0%
€ 770,000
MO
ST
EX
PE
NS
IVE
RE
SID
EN
TIA
L P
RO
PE
RT
Y
SO
LD
BY
RE
/MA
X IN
2016 V
ILN
IUS
− H
OU
SE
IN V
ILN
IUS
OL
DT
OW
N
Active real estate m
arket w
ith price growth.
Rising salaries, good consum
er expectations, cheap loans.
Increased market dem
and.
50 % of property purchases
are facilitated by cheap loans.
Property prices are 30 %
lower
than the highest pre-crisis level in 2008.
FU
TU
RE
TR
EN
DS
Euro/m
2
2016
2015
2017(forecast)
785
Houses
Apartm
ents
Capital/U
rban Region
Countryside
900
2016
2015
2017(forecast)
492
466
Capital/U
rban Region
Countryside
1,325
1,163
615
562
4.70
4.40
2.40
2.20
6.00
5.50
3.10
2.70
AV
ER
AG
E
SA
LES
PR
ICE
AV
ER
AG
E
RE
NTA
L PR
ICE
SA
LE
S P
RIC
ES
AN
D R
EN
TA
L P
RIC
ES
5.0%
5.0%
5.0%
4.0%
Source: S
urvey of European RE
/MA
X independently owned and operated regional sub-franchises.
No G
oogle Trends available due to lack of data.
AV
ER
AG
E N
ET M
ON
TH
LY W
AG
E
€ 637
PA
GE
22P
AG
E 21
Source: P
opulation and value of real estate activities vs. GD
P: Eurostat, February 2017. http://ec.europa.eu/eurostat, A
verage mean w
age: ww
w.w
ikipedia.org
Luxembourg – Low
supply and rising demand is
pushing prices by as much as 22 %
in all locations and property types.
Prices for sales and rental properties in Luxem
bourg have been increasing strongly over the past year and are expected to keep going up. W
hile the average sales price for urban apartm
ents was 7,091 Euros per square
meter in 2015, it is now
at 7,975 Euros, an increase of
more than 12 %
. Apartm
ents are cheaper in the country- side, but prices still rose m
ore than 9 % per square m
eter. S
ales prices for houses in urban areas increased by a sharp 22 %
per square meter.
The situation is similar w
ith rental properties, where
prices increased for both apartments and houses in
urban and rural areas. Further price increases between
5 % and 10 %
are expected in 2017.
Luxembourg
LUX
EM
BO
UR
G
PO
PU
LA
TIO
N
576,249
RE
AL E
STA
TE
VS
. GD
P 2015
7.3%
€ 2,900,000
MO
ST
EX
PE
NS
IVE
RE
SID
EN
TIA
L P
RO
PE
RT
Y
SO
LD
BY
RE
/MA
X IN
2016 M
ON
DO
RF
-LE
S-B
AIN
S
Low supply vs. high dem
and.
Rising prices across all property types and areas.
Loans are not as easy to get as before.
FU
TU
RE
TR
EN
DS
Euro/m
2
2016
2015
2017(forecast)
5,251
Houses
Apartm
ents
Capital/U
rban Region
Countryside
6,383
2016
2015
2017(forecast)
4,160
3,884
Capital/U
rban Region
Countryside
7,975
7,091
5,626
5,156
19.14
17.83
14.64
13.35
24.12
22.81
20.38
19.46
AV
ER
AG
E
SA
LES
PR
ICE
AV
ER
AG
E
RE
NTA
L PR
ICE
SA
LE
S P
RIC
ES
AN
D R
EN
TA
L P
RIC
ES
10.0%
10.0%
7.0%
7.0%
5.0%
7.0%
3.0%
5.0%
Source: S
urvey of European RE
/MA
X independently owned and operated regional sub-franchises.
No G
oogle Trends available due to lack of data.
AV
ER
AG
E N
ET M
ON
TH
LY W
AG
E
€ 3,009
PA
GE
24P
AG
E 23
Source: P
opulation and value of real estate activities vs. GD
P: Eurostat, February 2017. http://ec.europa.eu/eurostat, A
verage mean w
age: ww
w.w
ikipedia.org
Malta – Lim
ited stock, 93 % of ow
nership, and high dem
and from local and foreign investm
ent are super- charging the m
arket in Malta as it continues its evo-
lution as a leading business hub in Europe.
Sales prices for apartm
ents and houses in both urban and rural areas saw
an average increase of 10% in 2016,
compared to 2015. A
restructuring of building laws to
approve the construction of several multi-use high-rise
Malta
MA
LTA
PO
PU
LA
TIO
N
434,403
RE
AL E
STA
TE
VS
. GD
P 2015
4.8%
€ 18,000,000
MO
ST
EX
PE
NS
IVE
CO
MM
ER
CIA
L P
RO
PE
RT
Y
SO
LD
BY
RE
/MA
X IN
2016 K
AP
PA
RA
− H
OT
EL
WIT
H P
ER
MIT
S
FO
R D
EV
EL
OP
ME
NT
Property sales and rentals to increase
due to government G
lobal Residence and
Citizenship by Investm
ent programm
es.
Rental m
arket to grow through 2017 and beyond
due to an increase in foreign employees.
New
high-rise buildings to start development
in towns of S
liema and S
t. Julian’s.
Rental investm
ent to continue in both com
mercial and residential real estate.
First-time buyers to increase due to special
subsidy on stamp duties throughout 2017.
FU
TU
RE
TR
EN
DS
Euro/m
2
2016
2015
2017(forecast)
1,999
Houses
Apartm
ents
Capital/U
rban Region
Countryside
2,201
2016
2015
2017(forecast)
1,350
1,200
Capital/U
rban Region
Countryside
2,101
1,900
1,337
1,200
6.20
5.57
4.80
4.50
7.50
6.50
5.20
4.50
AV
ER
AG
E
SA
LES
PR
ICE
AV
ER
AG
E
RE
NTA
L PR
ICE
SA
LE
S P
RIC
ES
AN
D R
EN
TA
L P
RIC
ES
3.5%
6.0%
3.5%
2.9%
3-6.0
%5.0
%
6.0%
6.0%
Source: S
urvey of European RE
/MA
X independently owned and operated regional sub-franchises.
No G
oogle Trends available due to lack of data.
AV
ER
AG
E N
ET M
ON
TH
LY W
AG
E
€ 1,021
€ 4,500,000
MO
ST
EX
PE
NS
IVE
RE
SID
EN
TIA
L P
RO
PE
RT
Y
SO
LD
BY
RE
/MA
X IN
2016 P
EN
TH
OU
SE
IN S
T. JU
LIA
N’S
buildings, condominium
complexes, and 5
-6 star hotels to accom
modate high dem
and will positively im
pact both property sales and rental prices in M
alta.
Tax efficiency for com
panies, high net-worth individuals,
residence holders, and highly qualified persons has attri-buted to an influx of foreign investm
ent which creating
a buoyant rental market.
PA
GE
26P
AG
E 25
Source: P
opulation and value of real estate activities vs. GD
P: Eurostat, February 2017. http://ec.europa.eu/eurostat, A
verage mean w
age: ww
w.w
ikipedia.org
The Netherlands – A
fter years of flat stability, the m
arket is on the rise again across all market seg-
ments, w
ith high demand spurring m
ore growth
this year.
The real estate market in the N
etherlands is fairly con- sistent betw
een urban and rural areas. Prices for apart-
ments in cities and the countryside rose m
ore than 6 %
since 2015 and are now at 2,296 Euros per square
meter. For houses, the average sales price is currently at
1,969 Euros. Prices are expected to go up further in 2017.
People in the Netherlands pay 22 Euros per square m
eter for rental apartm
ents in urban areas and 13 Euros for those in the countryside. C
ompared to 2015, this w
as a price increase of about 10 %
. The numbers are very sim
i- lar for house rentals, w
hich will increase again in 2017
by about 7 %.
The Netherlands
TH
E
NE
TH
ER
LAN
DS
PO
PU
LA
TIO
N
16,979,120
RE
AL E
STA
TE
VS
. GD
P 2015
5.3%
€ 24,500,000
MO
ST
EX
PE
NS
IVE
RE
SID
EN
TIA
L P
RO
PE
RT
Y
SO
LD
IN 2016
AM
ST
ER
DA
M −
LU
XU
RY
AP
AR
TM
EN
T,
CIT
Y C
EN
TE
R O
F A
MS
TE
RD
AM
, 1,250 m2
Google Trends show
a tremendous gap betw
een the relative search volume
for “huis” (house) and “appartement” (apartm
ent): the first term is nearly ten
times m
ore popular than the latter and shows continued grow
th over the past five years. The relative search volum
e for “bouwkavel” (land) is insignificant.
GO
OG
LE
SE
AR
CH
INT
ER
ES
TE
uro/m2
2016
2015
2017(forecast)
1,846
Houses
Apartm
ents
Capital/U
rban Region
Countryside
1,969
2016
2015
2017(forecast)
1,969
1,846
Capital/U
rban Region
Countryside
2,296
2,160
2,296
2,160
22.00
20.00
13.14
11.95
22.00
20.00
13.14
11.95
AV
ER
AG
E
SA
LES
PR
ICE
AV
ER
AG
E
RE
NTA
L PR
ICE
SA
LE
S P
RIC
ES
AN
D R
EN
TA
L P
RIC
ES
4.0%
7.0%
6.0%
2.0%
6.0%
5.0%
2.0%
7.0%
Num
bers represent search interest relative to the highest point on the chart. The trends graph is designed to show you
whether popularity is increasing or decreasing and search term
s are relative to each other. This doesn‘t convey absolute search volume.
Source: G
oogle Trends (Category real property listings), M
arch 2017. ww
w.google.com
/trends
1007550250Land
House
20122016
20152014
20132017
Apartm
ent
The Dutch m
arket is picking up and developing positively H
igh demand on rentals G
overnment
will low
er the amount of social housing, w
hich will
further fuel the rental market
FU
TU
RE
TR
EN
DS
Source: S
urvey of European RE
/MA
X independently owned and operated regional sub-franchises.
AV
ER
AG
E N
ET M
ON
TH
LY W
AG
E
€ 2,263
PA
GE
28P
AG
E 27
Source: P
opulation and value of real estate activities vs. GD
P: Eurostat, February 2017. http://ec.europa.eu/eurostat, A
verage mean w
age: ww
w.w
ikipedia.org
Portugal – A
vailable loans and foreign investments
are helping the market rebound after the country’s
economic reorganization, w
ith prices across seg-m
ents flat or rising.
The average sales price for an urban apartment w
as 193,861 Euros, w
ith an average price per square meter
of 1,330 Euros. This was an increase of m
ore than 4 %
over 2015. In rural areas the 2016 average square meter
price was 14 %
lower, and both are expected to increase
by another 3-4 %
in 2017. Sales prices of houses are
steady in the countryside and increasing in cities.
Renting a house costs about 6.50 Euros per square m
eter in urban areas and 4.50 Euros in rural areas. P
rices are expected to rem
ain stable this year.
PortugalP
OR
TU
GA
L
PO
PU
LA
TIO
N
10,341,330
RE
AL E
STA
TE
VS
. GD
P 2015
10.6%
€ 5,000,000
MO
ST
EX
PE
NS
IVE
RE
SID
EN
TIA
L P
RO
PE
RT
Y
SO
LD
BY
RE
/MA
X IN
2016 L
ISB
ON
− B
UIL
DIN
G W
ITH
S
EV
ER
AL
OF
FIC
ES
Com
pared to most other E
uropean countries, relative search volume for
“moradia” (house) and “apartam
ento” (apartment) only differs by 17 %
, with the
latter being more popular. S
earch interest in “terreno” (land) is also relatively high. A
ll three search graphs are very volatile and show steady grow
th since the beginning of 2015.
GO
OG
LE
SE
AR
CH
INT
ER
ES
T
Source: S
urvey of European RE
/MA
X independently owned and operated regional sub-franchises.
Euro/m
2
2016
2015
2017(forecast)
1,050
Houses
Apartm
ents
Capital/U
rban Region
Countryside
1,100
2016
2015
2017(forecast)
1,026
976
Capital/U
rban Region
Countryside
1,330
1,272
1,143
1,095
6.46
6.22
4.52
4.49
6.45
5.95
5.25
4.90
AV
ER
AG
E
SA
LES
PR
ICE
AV
ER
AG
E
RE
NTA
L PR
ICE
SA
LE
S P
RIC
ES
AN
D R
EN
TA
L P
RIC
ES
3-4.0
%3
-4.0%
3-4.0
%
Num
bers represent search interest relative to the highest point on the chart. The trends graph is designed to show you
whether popularity is increasing or decreasing and search term
s are relative to each other. This doesn‘t convey absolute search volume.
Source: G
oogle Trends (Category real property listings), M
arch 2017. ww
w.google.com
/trends
1007550250
Land
House
20122016
20152014
20132017
Apartm
ent
Market is grow
ing again after economic
reorganization of the country Foreign investments
are on the rise due to the government’s G
olden Visa P
rogram to encourage foreign investm
ent
FU
TU
RE
TR
EN
DS
AV
ER
AG
E N
ET M
ON
TH
LY W
AG
E
€ 984
PA
GE
30P
AG
E 29
Source: P
opulation and value of real estate activities vs. GD
P: Eurostat, February 2017. http://ec.europa.eu/eurostat, A
verage mean w
age: ww
w.w
ikipedia.org
Rom
ania – Regulations attract first-tim
e buyers and fuel dem
and across all market segm
ents, with prices
expected to keep rising for years.
Hom
e owners in R
omania should invest quickly since
prices are rising in both rural and urban areas. The aver-age sales price for an urban apartm
ent was 1,150 Euros
per square meter in 2016 and 1,080 Euros in 2015.
A further increase of 8
- 10 % is expected. R
ural apart-m
ent prices are cheaper at just 550 Euros per square
meter and an average sales price of 40,000 Euros. S
ales prices for houses w
ill rise in all areas by 8 - 10 %
.
The rental market is grow
ing across all property types and regions and prices w
ill continue increasing over the next few
years. The average rental price for an apart-m
ent was 440 Euros in cities and 200 Euros in the
countryside. In 2016, the house rental price per square m
eter was a little higher than 5 Euros in urban areas
and 3 Euros in rural areas.
Rom
aniaR
OM
AN
IA
PO
PU
LA
TIO
N
19,759,968
RE
AL E
STA
TE
VS
. GD
P 2015
8.5%
€ 780,000
MO
ST
EX
PE
NS
IVE
RE
SID
EN
TIA
L P
RO
PE
RT
Y
SO
LD
BY
RE
/MA
X IN
2016 C
LU
J-NA
PO
CA
In Rom
ania, Google Trends show
the relative search popularity of “casa” (house) is 3.5 tim
es higher than that of “apartament” (apartm
ent) or “teren” (land). W
hile searches for houses have consistently increased over the past five years, the relative search volum
e for the two other term
s has remained
stable over time.
GO
OG
LE
SE
AR
CH
INT
ER
ES
T
Source: S
urvey of European RE
/MA
X independently owned and operated regional sub-franchises.
Euro/m
2
2016
2015
2017(forecast)
800
Houses
Apartm
ents
Capital/U
rban Region
Countryside
850
2016
2015
2017(forecast)
550
500
Capital/U
rban Region
Countryside
1,150
1,080
550
550
5.50
5.00
3.00
3.00
5.50
5.00
3.00
3.00
AV
ER
AG
E
SA
LES
PR
ICE
AV
ER
AG
E
RE
NTA
L PR
ICE
SA
LE
S P
RIC
ES
AN
D R
EN
TA
L P
RIC
ES
8-10.0
%
5.0%
5.0%
8-10.0
%5.0
%
7-10.0%
Num
bers represent search interest relative to the highest point on the chart. The trends graph is designed to show you
whether popularity is increasing or decreasing and search term
s are relative to each other. This doesn‘t convey absolute search volume.
Source: G
oogle Trends (Category real property listings), M
arch 2017. ww
w.google.com
/trends
1007550250
Land
House
20122016
20152014
20132017
“First House” governm
ent programm
e supports young people VAT changes expected
in coming m
onths Risk of instability from
turbulence in the new
government
FU
TU
RE
TR
EN
DS
Apartm
ent
AV
ER
AG
E N
ET M
ON
TH
LY W
AG
E
€ 505
PA
GE
32P
AG
E 31
Source: P
opulation: NR
S, 2015. w
ww
.nrscotland.gov.uk, Value of real estate activities vs. GD
P, Average and m
ean wage: G
overnment of S
cotland. ww
w.gov.scot
Scotland – A
fter a year of a 1.9 % decline in sales
prices, the market is bouncing back for m
oderate im
provements in 2017 w
ith rental availability and pricing rem
aining strong.
In the past year, sales prices in Scotland have decrea-
sed for apartments in both rural and urban areas. The
average apartment sold for 153,598 Euros in cities and
167,302 Euros in the countryside, a roughly 2 % de-
crease per square meter. The sales prices for houses
are also on the decline, but a little less. While buyers had
to pay 2,106 Euros per square meter in cities in 2015, it
was 2,083 Euros in 2016. P
rices are expected to increase by 3 – 4 %
in 2017.
In the rental market the situation w
as different; prices on both apartm
ents and houses have increased and are still going up. The average square m
eter price for a house in the countryside w
as 7 % higher than it w
as in 2015.
ScotlandS
CO
TLA
ND
PO
PU
LA
TIO
N
5,373,000
RE
AL E
STA
TE
VS
. GD
P 2015
9.0%
Source: S
urvey of European RE
/MA
X independently owned and operated regional sub-franchises.
Euro/m
2
2016
2015
2017(forecast)
2,106 (£ 1,800)
Houses
Apartm
ents
Capital/U
rban Region
Countryside
2,083 (£ 1,780)
2016
2015
2017(forecast)
2,913 (£ 2,490)
2,948 (£ 2,520)
Capital/U
rban Region
Countryside
1,536 (£ 1,313)
1,570 (£ 1,342)
1,673 (£ 1,430)
1,696 (£ 1,450)
9.94 (£ 8.50)
9.36 (£ 8.00)8.19 (£ 7.00)
8.77 (£ 7.50)
8.35 (£ 7.14)
7.10 (£ 6.07)
6.68 (£ 5.71)
AV
ER
AG
E
SA
LES
PR
ICE
AV
ER
AG
E
RE
NTA
L PR
ICE
SA
LE
S P
RIC
ES
AN
D R
EN
TA
L P
RIC
ES
3-4.0
%
5.0%
3-4.0
%
5.0%
3-4.0
%3
-4.0%
5.0%
5.0%
No G
oogle Trends available due to lack of data.
The market is expected to show
an increase in both hom
e prices and sales volum
es for 2017.
Strong regional differences.
FU
TU
RE
TR
EN
DS
AV
ER
AG
E N
ET M
ON
TH
LY W
AG
E
€ 2,001
8.77 (£ 7.50)
€ 611,463,46(£ 525,000)
MO
ST
EX
PE
NS
IVE
RE
SID
EN
TIA
L P
RO
PE
RT
Y
SO
LD
BY
RE
/MA
X IN
2016 P
EE
BL
ES
− S
ING
LE
DE
TA
CH
ED
FA
MIL
Y H
OM
E
PA
GE
34P
AG
E 33
Source: P
opulation and value of real estate activities vs. GD
P: Eurostat, February 2017. http://ec.europa.eu/eurostat, A
verage mean w
age: ww
w.w
ikipedia.org
Slovakia – C
heap mortgages lead to higher dem
and and prices for apartm
ents, with house prices holding
steady in all regions.
In 2016 the average sales price for an urban apartment
was 157,500 Euros, but only 60,000 Euros for a rural
apartment. P
rices are expected to increase in 2017. For houses, sales prices are steady, w
ith the average price per square m
eter holding at 1,520 Euros in cities and 510 Euros in the countryside.
Rental property prices have been increasing and w
ill continue to grow
by as much as 3 %
for urban apart-m
ents, where the average m
onthly rent costs 750 Euros. R
entals remain steady, w
ith prices for urban houses and apartm
ents around 10 Euros per square meter and
around 5 Euros for houses and apartments in the coun-
tryside. There has been no major change since 2015.
SlovakiaS
LOV
AK
IA
PO
PU
LA
TIO
N
5,426,252
RE
AL E
STA
TE
VS
. GD
P 2015
5.9%
€ 820,000
MO
ST
EX
PE
NS
IVE
RE
SID
EN
TIA
L P
RO
PE
RT
Y
SO
LD
BY
RE
/MA
X IN
2016 B
RA
TIS
LA
VA
− L
UX
UR
Y H
OU
SE
Cheap m
ortgages will increase
demand and prices.
Real estate developm
ent is booming.
FU
TU
RE
TR
EN
DS
Source: S
urvey of European RE
/MA
X independently owned and operated regional sub-franchises.
Euro/m
2
2016
2015
2017(forecast)
1,500
Houses
Apartm
ents
Capital/U
rban Region
Countryside
1,520
2016
2015
2017(forecast)
510
500
Capital/U
rban Region
Countryside
2,100
2,050
800
750
10.80
10.60
5.53
5.33
10.00
9.60
5.06
5.60
AV
ER
AG
E
SA
LES
PR
ICE
AV
ER
AG
E
RE
NTA
L PR
ICE
SA
LE
S P
RIC
ES
AN
D R
EN
TA
L P
RIC
ES
5.0%
5.0%
3.0%
No G
oogle Trends available due to lack of data.
AV
ER
AG
E N
ET M
ON
TH
LY W
AG
E
€ 755
PA
GE
36P
AG
E 35
Source: P
opulation and value of real estate activities vs. GD
P: Eurostat, February 2017. http://ec.europa.eu/eurostat, A
verage mean w
age: ww
w.w
ikipedia.org
Spain – P
rices for houses and apartments across the
country show a stead
y market w
ith potential growth
from rising incom
es, accessible financing, and the shifting political landscape in E
urope.
Since 2015, sales prices for both houses and apartm
ents have been increasing by about 4.6 %
in urban areas, w
here the average price per square meter w
ent up from
1,651 Euros to 1,727 Euros. Another increase of 1.8 %
is expected for 2017. In the countryside, prices have increa-sed by only 1 %
.
In the rental market the picture is different; prices per
square meter w
ent up by 9.8 % in cities and 7.7 %
in the countryside. The average m
onthly rent was 880 Euros
and 600 Euros, respectively.
SpainS
PA
IN
PO
PU
LA
TIO
N
46,438,422
RE
AL E
STA
TE
VS
. GD
P 2015
10.2%
According to G
oogle Trends, in Spain the relative search popularity for
“apartamento” (apartm
ent) and “terreno” (land) is extremely low
in comparison
to “casa” (house); people search for houses nearly seven times m
ore often.G
OO
GL
E S
EA
RC
H IN
TE
RE
ST
SA
LE
S P
RIC
ES
AN
D R
EN
TA
L P
RIC
ES
Euro/m
2
2016
2015
2017(forecast)
1,651
Real estate properties
Capital/U
rban Region
Countryside
1,727
2016
2015
2017(forecast)
1,174
1,160
AV
ER
AG
E
SA
LES
PR
ICE
AV
ER
AG
E
RE
NTA
L PR
ICE
1.8%
1.8%
8.80
8.01
6.00
5.57
1.8%
1.8%
No separate data per
property type (house vs. apartm
ent) available.
Easy access to financing Positive evolution of household incom
es BR
EXIT: positive effect as
British citizens are largest num
ber of foreign buyers
FU
TU
RE
TR
EN
DS
Source: S
urvey of European RE
/MA
X independently owned and operated regional sub-franchises.
Num
bers represent search interest relative to the highest point on the chart. The trends graph is designed to show you
whether popularity is increasing or decreasing and search term
s are relative to each other. This doesn‘t convey absolute search volume.
Source: G
oogle Trends (Category real property listings), M
arch 2017. ww
w.google.com
/trends
1007550250
House
Apartm
ent
20122016
20152014
20132017
Land
AV
ER
AG
E N
ET M
ON
TH
LY W
AG
E
€ 1,718
PA
GE
38P
AG
E 37
Source: P
opulation: http://ec.europa.eu/eurostat, Average m
ean wage: w
ww
.wikipedia.org
Sw
itzerland – With a m
ix of flat prices and declines, and lim
ited access to financing, the overall real estate m
arket is developing in unpredictable ways.
An average apartm
ent in or around a Sw
iss city sold for 867,163 Euros in 2016, w
ith almost no difference in
square meter prices betw
een 2015 and 2016. One had
to pay 734,517 Euros for apartments in rural areas, 18 %
cheaper on average compared to urban areas. For
houses, the price per square meter in urban areas w
as 29 %
higher than in rural areas.
Over 50 %
of Sw
iss residents rent their homes, m
ostly apartm
ents, and rental prices are expected to remain
steady or decrease in 2017. Only prestige properties in
urban areas are expected to see increasing prices.
SW
ITZ
ER
LAN
D
Switzerland
PO
PU
LA
TIO
N
8,325,194
€ 5,810,781(6,200,000 C
HF)
MO
ST
EX
PE
NS
IVE
RE
SID
EN
TIA
L P
RO
PE
RT
Y
SO
LD
BY
RE
/MA
X IN
2016 B
RIO
NE
SO
PR
A M
INU
SIO
(TI) −
VIL
LA
, 363 m2
In Sw
itzerland, the vast majority of real estate searches on G
oogle are in G
erman or French. W
hile relative search volume in G
erman show
s more interest
in the term “W
ohnung” (apartment) than in “H
aus” (house), the French-speaking population seem
s to be looking for houses (“maison”) m
ore often than apart-m
ents (“appartement”).
GO
OG
LE
SE
AR
CH
INT
ER
ES
TE
uro/m2
2016
2015
2017(forecast)
8,714 (9,298 CH
F)
Houses
Apartm
ents
Capital/U
rban Region
Countryside
8,663 (9,243 CH
F)
2016
2015
2017(forecast)
6,720 (7,170 CH
F)
6,726 (7,177 CH
F)
Capital/U
rban Region
Countryside
7,541 (8,046 CH
F)
7,508 (8,011 CH
F)
6,387 (6,815 CH
F)
6,384 (6,812 CH
F)
17.80 (19.00 CH
F)
17.80 (19.00 CH
F)
15.00 (16.00 CH
F)
14.00 (15.00 CH
F)
AV
ER
AG
E
SA
LES
PR
ICE
AV
ER
AG
E
RE
NTA
L PR
ICE
SA
LE
S P
RIC
ES
AN
D R
EN
TA
L P
RIC
ES
No data available for house rental prices.
Unpredictable m
arket development
With few
er loans, more self-capitalized resources
are needed Stagnant population grow
th due to legislative lim
itation on imm
igration
FU
TU
RE
TR
EN
DS
Source: S
urvey of European RE
/MA
X independently owned and operated regional sub-franchises.
Num
bers represent search interest relative to the highest point on the chart. The trends graph is designed to show you
whether popularity is increasing or decreasing and search term
s are relative to each other. This doesn‘t convey absolute search volume.
Source: G
oogle Trends (Category real property listings), M
arch 2017. ww
w.google.com
/trends
1007550250
Apartm
ent (D
E)
20122016
20152014
20132017
Apartm
ent (FR
)
House (D
E)
House (FR
)
AV
ER
AG
E N
ET M
ON
TH
LY W
AG
E
€ 4,775
RE/MAXEurope
36+COUNTRIES
18,000+AGENTS
1,700+OFFICES
About RE/MAX Europe
PAGE 39
18,000+
1,700+
2016 saw record-breaking sales and massive growth in the number of real estate agents working for RE/MAX. Now, with more than 18,000 agents in 1,700 offices across the continent, the RE/MAX network continues to be Europe’s largest real estate network. With a total commission of more than 400 million Euros, the net-work’s income has grown by 75 percent over the last four years.
Michael Polzler, Managing Director of RE/MAX Europe, forecasts continuing growth in 2017: “We see that our clients’ requirements and needs are getting more spe-cific and more numerous. To fulfill these and maintain our high-quality standards, the year ahead is fully de-voted to further growth.” Polzler’s goal – 22,000 agents by the end of 2017 – will not only secure RE/MAX’s leadership position in Europe, but will create even more opportunities for a career in real estate.
36
PMSCS Real Estate Franchising Inc.Alpenstr.15, 6304 ZugSwitzerland
ImprintPhotos: alamy, dreamstime, Gap Interiors, House of Pictures, iStock, living4media, Living Inside, RBA Images, shutterstock, 123RF:Brando Cimarosti (3), Andreas von Einsiedel (2), Olivier Hallot, José-Luis Hausmann, Marina Kaplan, Juta Kübarsepp, Bertrand Limbour (2), Christophe Madamour, Laura Rizzi, Anne-Catherine Scoffoni