Photo: Denis Lovrovic (European UnionI) Rijeka panorama
As in the rest of Europe, the cost of both buying and renting property has gone up in Central & Eastern Europe (CEE). Emerging Europe observes that within the region, the highest increases both for rental and purchase are being seen in Croatia, Slovakia, Poland and Estonia.
One analyst notes that while overall rents had earlier gone down due to the pandemic, now buyers are still interested in the purchase of real estate for investment purposes. That’s bad news for households looking to buy or rent something to dwell in themselves, because wages in CEE are not keeping up with rising rents or housing prices. Lower and middle income households are feeling the brunt of the imbalance, having less access to receiving mortgages.
Observers see little incentive for policymakers to get involved and cool down such “hot” property markets.
Source: Emerging Europe
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