Property in Europe: an overview!

The health crisis brought its share of changes, both positive and negative. As far as the property market is concerned, this post-Covid era has been rather favourable.

Indeed, with the exception of Italy, property prices have risen significantly in the European countries studied by Immoweb and Meilleurs Agents.
In Belgium, the average price per square metre is 2169€.
And which countries are the three most expensive? The United Kingdom (3638€/m²), Germany (3066€/m²) and France (3006€/m²).

Belgium has recorded the second-highest growth in property prices in Europe since the start of the crisis, at +11.8% (+6.4% pre-Covid). Germany holds the record for the largest increase: +23.5% post-crisis compared with +17.6% before.

And what about the capitals?

Brussels is the European capital with the most attractive purchasing power, thanks to its average price of 3329€/m². The United Kingdom has the lowest purchasing power: a two-person British household on a median income can purchase a 12m² property, whereas, using the same criteria, the household could purchase a 66m² property in Brussels.

Although prices remain very high in capital cities, they no longer attract as many people as they did before the health crisis, and many Europeans are looking for greener and more spacious surroundings.
According to Piet Derriks, Managing Director of Immoweb : « With the health crisis, working from home became widespread and was imposed on everyone across Europe, forcing companies to review their working policies. At the same time, successive lockdowns created new expectations among European households. As a result, more and more Europeans turned to cheaper property in suburban areas. ”