What is the best real estate market in Europe up to December 2022?

What is the performance of Spanish real estate?

We did the work for you and released our last quarterly update from the data of Eurostat up to the end of December 2022.

During the last year, European real estate prices increased by 8.4% in the Euro area.

As you can see on our table at the end of our article, Spanish residential prices rose by 5.5%.

Have a look at the real estate price evolution for all the European markets since 2006:

It is an interactive chart, so, it will be always updated in the future 🙂 . Bookmark this page?

Remember, you may always find this information up to date on our site: it is in the Resource section under “Real estate data” with our detailed page with tables and charts on all the European real estate market prices evolution.

Do you want to check how good, how bad is the Spanish market doing vs any period (quarterly, yearly, 3 year, 5 year, 10 year period) and any market?

While we note some strong performance on the Spanish market since 2014, in fact, it is in line with European averages. At the same time, on a 10-year basis, Spanish real estate market is way behind other markets.

Real estate trends in Europe to December 2022, our 2 minutes video

Would you like to watch this video in your own language? Click at the bottom right of the video on “cc” to get subtitles in your language.

Let’s check the best and worst European real estate markets over different periods.

European real estate markets to December 2022, 3 months evolution

Best Real estate market in Europe – last Quarter

1. Croatia’s house prices index +4.7%
2. Romania house prices index +2.5%
3. Ireland house prices index  +1.2%
4. Portugal’s house Prices index +1.1%
5. Malta house prices index +0.7%

Worst Real estate market in Europe – last QUARTER

1. Denmark’s house prices index -6.5%
2. Germany’s house prices index -5%
3. Cyprus house prices index -4%
4. Sweden’s house prices index -3.6%
5. Finland house prices index -3.4%

Spain house price index market performance last quarter: -0.8%, 10th position

Eurostat Real Estate price Quarterly evolution to Dec 2022

Here is the full ranking for the Quarter for all the European countries

Rank # 1 Croatia real estate prices increased by 4.7% over the last quarter
Rank # 2 Romania real estate prices increased by 2.5% over the last quarter
Rank # 3 Ireland real estate prices increased by 1.2% over the last quarter
Rank # 4 Portugal real estate prices increased by 1.1% over the last quarter
Rank # 5 Malta real estate prices increased by 0.7% over the last quarter
Rank # 6 Italy real estate prices increased by 0.0% over the last quarter
Rank # 7 Belgium real estate prices decreased by -0.4% over the last quarter
Rank # 8 France real estate prices decreased by -0.5% over the last quarter
Rank # 9 Austria real estate prices decreased by -0.6% over the last quarter
Rank # 10 Spain real estate prices decreased by -0.8% over the last quarter
Rank # 11 Luxembourg real estate prices decreased by -1.4% over the last quarter
Rank # 12 Netherlands real estate prices decreased by -2.6% over the last quarter
Rank # 13 Finland real estate prices decreased by -3.4% over the last quarter
Rank # 14 Sweden real estate prices decreased by -3.6% over the last quarter
Rank # 15 Cyprus real estate prices decreased by -4.0% over the last quarter
Rank # 16 Germany real estate prices decreased by -5.0% over the last quarter
Rank # 17 Denmark real estate prices decreased by -6.5% over the last quarter

European real estate markets to December 2022, 12 months evolution

Best Real estate market in Europe – last YEAR

1. Croatia’s house prices index +17.3%
2. Portugal’s house Prices index +11.3%
3. Ireland house prices index +8.7%
4. Austria’s house prices index +7.9%
5. Romania house prices index +6.8%

Worst Real estate market in Europe – last YEAR

1. Denmark house price index -6.5%
2. Sweden’s house prices index -3.7%
3. Germany’s house prices index -3.6%
4. Finland house price index -2.3%
5. Italy’s house prices index +2.8%

Spain real estate market performance: +5.5%, 8th position

Eurostat Real Estate price 1Year change to Dec 2022

Here is the full ranking for the Year for all the European countries

Rank # 1 Croatia real estate prices increased by 17.3% over the last year
Rank # 2 Portugal real estate prices increased by 11.3% over the last year
Rank # 3 Ireland real estate prices increased by 8.7% over the last year
Rank # 4 Austria real estate prices increased by 7.9% over the last year
Rank # 5 Romania real estate prices increased by 6.8% over the last year
Rank # 6 Malta real estate prices increased by 5.9% over the last year
Rank # 7 Luxembourg real estate prices increased by 5.6% over the last year
Rank # 8 Spain real estate prices increased by 5.5% over the last year
Rank # 9 Netherlands real estate prices increased by 5.3% over the last year
Rank # 10 France real estate prices increased by 4.9% over the last year
Rank # 11 Belgium real estate prices increased by 4.7% over the last year
Rank # 12 Cyprus real estate prices increased by 4.4% over the last year
Rank # 13 Italy real estate prices increased by 2.8% over the last year
Rank # 14 Finland real estate prices decreased by -2.3% over the last year
Rank # 15 Germany real estate prices decreased by -3.6% over the last year
Rank # 16 Sweden real estate prices decreased by -3.7% over the last year
Rank # 17 Denmark real estate prices decreased by -6.5% over the last year

European real estate markets to December 2022, 3-year evolution

Best Real estate market in Europe – last 3 YEARS

1. Luxembourg house price index +38.2%
2. Croatia’s house prices index  +36.2%
3. Netherlands house price index +36.0%
4. Portugal house price index +26.0%
5. Austria house price index +33.9%

Worst Real estate market in Europe – last 3 YEARS

1. Cyprus house prices index +1.4%
2. Finland house price index +4.2%
3. Italy house prices index +8.5%
4. Denmark house price index +10.5%
5. Sweden’s house prices index +12.4%

Spain real estate market performance: +14%, 11th position

Eurostat Real Estate price 3 Year change to Dec 2022

Here is the full ranking for the 3 Years for all the European countries

Rank # 1 Luxembourg real estate prices increased by 38.2% over the last 3 years
Rank # 2 Croatia real estate prices increased by 36.2% over the last 3 years
Rank # 3 Netherlands real estate prices increased by 36.0% over the last 3 years
Rank # 4 Portugal real estate prices increased by 36.0% over the last 3 years
Rank # 5 Austria real estate prices increased by 33.9% over the last 3 years
Rank # 6 Ireland real estate prices increased by 24.5% over the last 3 years
Rank # 7 France real estate prices increased by 18.7% over the last 3 years
Rank # 8 Germany real estate prices increased by 18.1% over the last 3 years
Rank # 9 Belgium real estate prices increased by 17.4% over the last 3 years
Rank # 10 Romania real estate prices increased by 17.0% over the last 3 years
Rank # 11 Spain real estate prices increased by 14.0% over the last 3 years
Rank # 12 Malta real estate prices increased by 12.5% over the last 3 years
Rank # 13 Sweden real estate prices increased by 12.4% over the last 3 years
Rank # 14 Denmark real estate prices increased by 10.5% over the last 3 years
Rank # 15 Italy real estate prices increased by 8.5% over the last 3 years
Rank # 16 Finland real estate prices increased by 4.2% over the last 3 years
Rank # 17 Cyprus real estate prices increased by 1.4% over the last 3 years

European real estate markets to December 2022, 5-year evolution

Best Real estate market in Europe – last 5 YEARS

1. Luxembourg house price index +62.4%
2. Portugal house price index +56%
3. Croatia’s house prices index  +55.4%
4. Netherlands house price index +53.9%
5. Germany house price index +38.2%

Worst Real estate market in Europe – last 5 YEARS

1. Cyprus house prices index +4.5%
2. Finland house price index +6.8%
3. Italy house prices index +8.3%
4. Denmark house price index +14%
5. Sweden’s house prices index +17.6%

Spain real estate market performance: +24.4%, 12th position

Eurostat Real Estate price 5 Year change to Dec 2022

Here is the full ranking for the last 5 Years for all the European countries

Rank # 1 Luxembourg real estate prices increased by 62.4% over the last 5 years
Rank # 2 Portugal real estate prices increased by 56.0% over the last 5 years
Rank # 3 Croatia real estate prices increased by 55.4% over the last 5 years
Rank # 4 Netherlands real estate prices increased by 53.9% over the last 5 years
Rank # 5 Austria real estate prices increased by 48.0% over the last 5 years
Rank # 6 Germany real estate prices increased by 38.2% over the last 5 years
Rank # 7 Malta real estate prices increased by 32.5% over the last 5 years
Rank # 8 Ireland real estate prices increased by 32.3% over the last 5 years
Rank # 9 Romania real estate prices increased by 26.5% over the last 5 years
Rank # 10 France real estate prices increased by 26.3% over the last 5 years
Rank # 11 Belgium real estate prices increased by 26.1% over the last 5 years
Rank # 12 Spain real estate prices increased by 24.4% over the last 5 years
Rank # 13 Sweden real estate prices increased by 17.6% over the last 5 years
Rank # 14 Denmark real estate prices increased by 14.0% over the last 5 years
Rank # 15 Italy real estate prices increased by 8.3% over the last 5 years
Rank # 16 Finland real estate prices increased by 6.8% over the last 5 years
Rank # 17 Cyprus real estate prices increased by 4.5% over the last 5 years

European real estate markets to December 2022, 10-year evolution

Best Real estate market in Europe – last 10 YEARS

1. Ireland house price index +126.7%
2. Portugal house price index 112.4%
3. Luxembourg house price index 110.0%
4. Netherlands house price index 94.1%
5. Austria house price index 89.5%

Worst Real estate market in Europe – last 10 YEARS

1. Italy house prices index -3%
2. Cyprus house prices index +3.1%
3. Finland house price index +7.8%
4. France’s house prices index +30.2%
5. Belgium house prices index +37.7%

Spain real estate market performance: +49%, 10th position

Eurostat Real Estate price 10-year evolution Dec 2022

Here is the full ranking for the last 10 Years for all the European countries

Rank # 1 Ireland real estate prices increased by 126.7% over the last 10 years
Rank # 2 Portugal real estate prices increased by 112.4% over the last 10 years
Rank # 3 Luxembourg real estate prices increased by 110.0% over the last 10 years
Rank # 4 Netherlands real estate prices increased by 94.1% over the last 10 years
Rank # 5 Austria real estate prices increased by 89.5% over the last 10 years
Rank # 6 Germany real estate prices increased by 68.3% over the last 10 years
Rank # 7 Sweden real estate prices increased by 66.6% over the last 10 years
Rank # 8 Malta real estate prices increased by 63.4% over the last 10 years
Rank # 9 Croatia real estate prices increased by 62.6% over the last 10 years
Rank # 10 Spain real estate prices increased by 49.0% over the last 10 years
Rank # 11 Romania real estate prices increased by 46.2% over the last 10 years
Rank # 12 Denmark real estate prices increased by 41.0% over the last 10 years
Rank # 13 Belgium real estate prices increased by 37.7% over the last 10 years
Rank # 14 France real estate prices increased by 30.2% over the last 10 years
Rank # 15 Finland real estate prices increased by 7.8% over the last 10 years
Rank # 16 Cyprus real estate prices increased by 3.1% over the last 10 years
Rank # 17 Italy real estate prices decreased by -3.0% over the last 10 years

Real estate market in Europe – price evolution over the last 5 years – Table 

Sorted on 1-year change descending

If you want to know more, here is our main page with all these European real estate performance rankings always up to date.

20-year graph of European markets’ performance

This is an interactive chart with all the countries, of course, it is not that easy to check one specific country, we just did it as an artwork :-). As you can see on the chart all the countries have a 100 level in 2015 for their indexes. Here is the page you will find any specific country, one by one: European real estate performance charts over the last 20 years.

 

Here is our non-interactive chart:

European house price indexes

Is the Spanish real estate market in a bubble as of 2023?

In conclusion, in recent years, the Spanish real estate market has become an attractive investment opportunity for both domestic and international investors. With its rich cultural heritage, diverse landscapes, and vibrant economy, Spain has emerged as a promising destination for property buyers. With the average price per square meter in Spain at €1,749 in December 2022, coupled with the country’s strong GDP growth prospects, these factors make the Spanish property market an excellent choice for those looking to invest and diversify their real estate portfolios in Europe.

Not only does Spain offer a competitive real estate market in comparison to other European countries, but it also provides a stable environment for long-term investments. The country’s robust infrastructure, thriving tourism industry, and well-established business sectors contribute to a promising future for investors. As you delve deeper into the Spanish property market, you will discover that now is the perfect time to capitalize on this attractive investment opportunity.

Do you want to check the Spanish real estate market deeper?

• What return will you make on your Spanish Property investment?
• What is the outlook for the Spanish real estate market in 2023?
• Have a look at our quarterly report on the top 20 Spanish cities’ real estate markets
• Check our table on the national real estate market in Spain
• Check our table on the regional real estate markets in Spain

 

Source: Eurostat

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Stéphane

Senior Analyst and Strategist at HTBIS

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