The RICS European Housing Review 2009 looks at the performance of European housing markets in 2008, analysing trends across the continent in areas such as:
- inflation;
- building activity;
- mortgage markets;
- turnover.
What were the key messages?
- House prices are static or falling across all of Europe.
- The chances of core European housing markets escaping marked downturns in 2009 are now slim
- House prices fell significantly in 2008 in central and eastern Europe, Ireland, France, UK and among the Nordic countries.
- All Europe’s housing markets are experiencing rapidly falling demand and too much supply, due to the impact of the credit crunch and recessions in Europe’s major economies.
- New build markets in the major cities of central and eastern Europe are at a standstill, with a rising tide of unsold dwellings.
The summary (available in English, French, German and Italian) and full report are available free of charge to download as a PDF.
The review is prepared by Dr Michael Ball, Director of Urban Property Economics Consultancy and a professor in the Department of Real Estate and Planning at the University of Reading.
RICS European Housing Reviews 2003-2008
European Housing Reviews appear in Adobe PDF format.
