2/08/2007

Poland is European property boom leader

Despite fears of a slowdown within the European property market, house prices remained solid throughout the continent, with Scandinavia and Eastern Europe, particularly Poland, leading the boom.

Statistics released by the Royal Institute of Chartered Surveyors show a growth in house prices in Poland of 33 per cent for 2006, following on from 2005's growth of 28 per cent.

Scandinavia continued to show solid property-market growth, with house prices up 22 per cent in Denmark over the year, 17 per cent in Norway and 11 per cent in Sweden.

There had been fears of a considerable slowdown in prices, particularly within markets considered by some to be over-heated, including the UK, Spain and Ireland.

However, the RICS stated that these latest figures show such predictions to be "off the mark".

The author of the report for 2006, Professor Michael Ball, said: "In the main, Europe's housing markets had another strong year.

The long predicted soft-landings have yet to materialise, with the European Central Bank interest rate rises having little effect in the Euro-zone so far," he added.
Source:realestatetv.tv



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