The cost of real estate in Europe increased for the first time in three years

In June 2013 in the European countries for the first time since 2010, there has been growth in property prices, the year the average cost of housing here has increased by 0.7%, according to the online source Property Wire , citing data from Knight Frank international company. The highest annual price increase is noted in Turkey (12.2%), and the most significant decline in value - in Greece (11.5%). Also recorded a drop in property prices in the Netherlands and Hungary - by 8.2% and 8.5% respectively. Now with Greece, Spain and Italy, the average cost of housing by 31%, 29% and 15% lower compared to the peak in real estate markets of these countries. Experts point out that the fall in house prices in Europe due to the tight credit conditions and a growing increase in unemployment. The rise in prices observed in 37 of 55 countries included in the index. In general, in all countries of real estate has risen in price over the year by 2.4% - the highest rate of annual growth since the second quarter of 2010. The largest annual increase in the value of notes in Dubai, where prices have risen over the year by 21.7%. The index shows that the weakest price growth is observed in the European countries. HomesOverseas.ru