Europe: best and worst real estate markets
3 April 2008Magazine Forbes has made the list of the best and worst real estate markets of the Europe for 2007, being based on data about rates of a rise in prices on the real estate in these countries, given by Royal Institution of Chartered Surveyors (RICS) and consulting agency Knight Frank.
Poland is on the first place of rating. The prices for the real estate in this country have grown on 28 %. The cost of one square meter of new apartments in capital, Warsaw, has increased more than twice for the period since 2004 till 2007. However, in 2008 in the country the recession, caused by increase of percent under loans, is predicted.
Further list is represented with such countries: Cyprus (the prices have grown on 15 %), Iceland (+15 %), Norway (+10 %), Sweden (+10 %), the Great Britain (+9 %), Belgium (+7 %), Finland (+6 %), Hungary (+6 %), Switzerland (+5,3 %), Austria (+5,1 %).
France, Italy, the Netherlands, Spain, Portugal, Denmark have also got into the list of the countries, where the real estate has risen in price for the last year.
At the same time, in Estonia and Greece the prices for the real estate in the past year have fallen on 0,5 %, in Germany – on 6 %.
