LA VALLETTA (MALTA) (MNA/ITALPRESS) – According to a Eurostat study, the average price of a house in the European Union has increased by 48% since 2015.
The highest increase in price has been in Hungary with a staggering 173% increase, and the lowest increase was Finland with just 5%. Malta registered a 53.4% increase in housing prices since 2015. Italy registered one of the lowest rate with 8.3% increase.
The primary factors driving up prices include rising construction costs and mortgage rates, reduced building activity that limit supply, and a growing trend of purchasing properties as income-generating investments.
The renting sector has also been experiencing inflammatory prices with an average rise of 18% from 2010 to 2022 in the EU, due to the increase of short term lets as well as taking houses and flats off the market.
Many Europeans are worried about rising prices, the cost of living, and the overall economic situation. According to the July 2024 Euro-barometer survey, these were the primary reasons that motivated people to vote in the European elections.
In 2021, the European Parliament urged EU countries to recognise adequate housing as a fundamental human right, ensuring equal access to safe, sanitary, and energy-reliable housing. In July 2024, Ursula Von der Leyen was re-elected as President of the European Commission and highlighted housing as a key priority, announcing the creation of a new EU commissioner role dedicated to housing.
Later, in October 2024, MEPs discussed wit(ITALPRESS).
Foto: Agenzia Fotogramma
