Property Index: Overview of European Residential Markets (15th edition) (Deloitte)

Summary

• Luxembourg remains the most expensive country for purchasing a new home, with average prices reaching €9,160 per square meter.p.3
• Durrës recorded the largest annual increase in new dwelling prices among cities surveyed, rising from €1,330/sqm to €1,650/sqm (+24.1%).p.3
• Romania recorded the strongest increase in average bid prices for residential property, rising by 14.4% between 2024 and 2025.p.11
• Vlorë is the least affordable city in the ranking, where residents must save 21.3 average gross annual salaries to afford a 70 sqm new home.p.17
• Hamburg recorded the strongest rental growth among all surveyed cities, with rents increasing by 23.6% year on year.p.18
• Mortgage rates declined in 22 of the 25 countries analysed during 2025.p.20

Key insights

1. Albania led the survey on housing completions with 9.22 completed dwellings per 1,000 inhabitants, followed by Turkey (7.82) and Ireland (6.64).p.8
2. Bulgaria recorded the strongest year-on-year growth in housing completions, with an increase of 78.9% between 2024 and 2025.p.8
3. Munich has the highest average bid price for a new dwelling among the cities in the chart, at 11,200 €/sqm.p.12
4. Dublin City was the only capital city to record a price decline exceeding 5%, with prices falling by 15.3% compared with the previous year.p.15
5. Only 11 cities required more than 10 average annual salaries to purchase a new dwelling in the 2024 edition; this number increased to 19 cities in 2025.p.16
6. The euro strengthened by 25.76% against the Turkish lira, which makes direct comparisons of Turkish housing prices with other European markets more difficult.p.10
7. Poland is expected to record the strongest GDP growth among EU countries at 3.5%, while Germany is projected to grow by only 0.8%.p.7
8. The Eurozone economy returned to modest growth in 2025, with GDP increasing by 1.5%.p.7