Tel Aviv has overtaken Paris as the most expensive real estate city in the Europe-Arabia-Africa economic area (EMEA region) with a price per square meter of EUR 14,740. South-eastern European countries such as Bosnia-Herzegovina, Hungary and Croatia recorded considerable price increases of over 20 percent. In contrast, the UK and Denmark experienced significant price declines of 17.9 and 9.6 percent respectively. This is according to the Deloitte Property Index.
According to Deloitte, 2022 was a year of sustainable transformation in the real estate sector, driven by challenges such as the energy crisis. Project developers and homeowners increasingly integrated alternative energy solutions, including solar panels and geothermal systems. These changes favored rental housing concepts in Europe and led to an increase in demand for environmentally friendly and energy-efficient housing solutions.
In Germany, the real estate boom slowed, with purchase price growth remaining moderate, while rents rose due to a shortage of housing and a decline in construction activity. The German residential real estate landscape continued to show considerable differences, with Munich well above average at EUR 11,400 per square meter. Despite external challenges such as rising energy costs and increased financing costs, experts expect the investment market to stabilize from 2023.
Source: www2.deloitte.com
© Photodune
