The Federal Statistical Office of Germany on a quarterly basis published the property price index to show how much it will cost to purchase a house or an apartment. The index represents the price development in Europe by way of comparing development prices for new construction projects and maintenance prices.
Currently, Berlin is a highly popular property market in Europe. Given that the Federal Statistical Office of Germany shows information only on the German market as a whole, other sources of data are usually used for the regional analysis of property prices.
For example, the “Global Residential Cities Index” published by the Knight Frank consulting firm, showed that the highest globally registered price growth on real estate showed Berlin in 2017. Beginning from the end of 2016 and through the end of 2017 real estate prices in Berlin, as was reported, grew by 20.5%. Property prices growth in Berlin exceeded the Turkish Izmir (18.5%) and the Icelandic capital Reykjavik (16.6).
If we look at the period from 2014 up until the second quarter of 2019, the analyses show that the real estate price growth in Berlin by 69%. However, Berlin is just in the middle of the scale, which is lead by Budapest with a 153% growth rate during the same period.
Worth a special mention is Greece. The Greek property market is gradually recovering from the crash it suffered a decade ago. However, many problems are still in place, even in a situation when certain parts of the market were showing growth.