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Despite the fact that in many European countries real estate markets are showing steady growth, recent studies have shown that, in general, the Old World is moving along the path of the United States, that is, towards stagnation.
Forbes Magazine publishes a list of Europe’s best and worst housing markets, noting that a number of countries whose performance in this sector is very impressive have not been ranked because they failed to obtain official market statistics.
- Poland. Prices rose by 28%. The phenomenal indicator made the Polish market the most successful in 2007.
- Cyprus. Prices rose by 15%.
- Iceland. Prices rose by 15%.
- Norway. Prices rose 10%.
- Sweden. Prices rose 10%.
- Great Britain. Prices rose 9%. In many ways, market growth is supported by real estate sales in the most prestigious areas of London, where price records are set almost every month.
- Belgium. Prices rose 7%.
- Finland. Prices rose 6%.
- Hungary. Prices rose 6%.
- Switzerland. Prices rose 5.3%.
- Austria. Prices rose 5.1%.
- France. Prices rose 4%.
- Italy. Prices rose 4%.
- the Netherlands. Prices rose 4%
- Spain. Prices rose 3%. A few years ago, the Spanish market has risen markedly on increasing demand for villas in this sunny region. In 2007, there was a significant decline in interest.
- Portugal. Prices rose 0.4%.
- Denmark. Prices rose by 0.5%.
- Estonia. Prices fell 0.5%.
- Greece. Prices fell 0.5%.
- Germany. Prices fell 6%. Despite the fact that the most powerful economic system in the Old World is undergoing a mini-renaissance, nothing good can be said about the housing market in Germany. The fact that he has one of the largest rental sectors in the world (58% of housing is rented) did not help him.
- Ireland. Prices fell 7%. Stana became the main “loser” of the European real estate market in 2007, although in 2006 the Irish market grew by 12%.