100+ datasets found
  1. Average price per square foot in new single-family homes U.S. 2000-2023

    • statista.com
    • ai-chatbox.pro
    Updated Jun 20, 2025
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    Statista (2025). Average price per square foot in new single-family homes U.S. 2000-2023 [Dataset]. https://www.statista.com/statistics/682549/average-price-per-square-foot-in-new-single-family-houses-usa/
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    Dataset updated
    Jun 20, 2025
    Dataset authored and provided by
    Statistahttp://statista.com/
    Area covered
    United States
    Description

    The average price per square foot of floor space in new single-family housing in the United States decreased after the great financial crisis, followed by several years of stagnation. Since 2012, the price has continuously risen, hitting *** U.S. dollars per square foot in 2022. In 2024, the average sales price of a new home exceeded ******* U.S. dollars. Development of house sales in the U.S. One of the reasons for rising property prices is the gradual growth of house sales between 2011 and 2020. This period was marked by the gradual recovery following the subprime mortgage crisis and a growing housing sentiment. Another significant factor for the housing demand was the growing number of new household formations each year. Despite this trend, housing transactions plummeted in 2021, amid soaring prices and borrowing costs. In 2021, the average construction cost for single-family housing rose by nearly ** percent year-on-year, and in 2022, the increase was even higher, at close to ** percent. Financing a house purchase Mortgage interest rates in the U.S. rose dramatically in 2022 and remained elevated until 2024. In 2020, a homebuyer could lock in a 30-year fixed interest rate of under ***** percent, whereas in 2024, the average rate for the same mortgage type was more than twice higher. That has led to a decline in homebuyer sentiment, and an increasing share of the population pessimistic about buying a home in the current market.

  2. F

    Housing Inventory: Median Listing Price per Square Feet in the United States...

    • fred.stlouisfed.org
    json
    Updated Jul 10, 2025
    + more versions
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    (2025). Housing Inventory: Median Listing Price per Square Feet in the United States [Dataset]. https://fred.stlouisfed.org/series/MEDLISPRIPERSQUFEEUS
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    jsonAvailable download formats
    Dataset updated
    Jul 10, 2025
    License

    https://fred.stlouisfed.org/legal/#copyright-citation-requiredhttps://fred.stlouisfed.org/legal/#copyright-citation-required

    Area covered
    United States
    Description

    Graph and download economic data for Housing Inventory: Median Listing Price per Square Feet in the United States (MEDLISPRIPERSQUFEEUS) from Jul 2016 to Jun 2025 about square feet, listing, median, price, and USA.

  3. Average sales price of houses in Germany 2012-2024, by city

    • statista.com
    Updated Jun 16, 2025
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    Statista (2025). Average sales price of houses in Germany 2012-2024, by city [Dataset]. https://www.statista.com/statistics/1267270/average-price-of-houses-in-germany-by-city/
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    Dataset updated
    Jun 16, 2025
    Dataset authored and provided by
    Statistahttp://statista.com/
    Area covered
    Germany
    Description

    The average price of detached and duplex houses in the biggest cities in Germany varied between approximately ***** euros and 10,000 euros per square meter in 2024. Housing was most expensive in Munich, where the square meter price of houses amounted to ***** euros. Conversely, Berlin was most affordable, with the square meter price at ***** euros. How have German house prices evolved? House prices maintained an upward trend for more than a decade, with 2020 and 2021 experiencing exceptionally high growth rates. In 2021, the nominal year-on-year change exceeded 10 percent. Nevertheless, the second half of 2022 saw the market slowing, with the annual percentage change turning negative for the first time in 12 years. Another way to examine the price growth is through the house price index, which uses 2015 as a base. At its peak in 2022, the German house price index measured about *** percent, which means that a house bought in 2015 would have appreciated by ** percent. Is housing affordable in Germany? Housing affordability depends greatly on income: High-income areas often tend to have more expensive housing, which does not necessarily make them unaffordable. The house price to income index measures the development of the cost of housing relative to income. In the first quarter of 2024, the index value stood at ***, meaning that since 2015, house price growth has outpaced income growth by about ** percent. Compared with the average for the euro area, this value was lower.

  4. Average price per square meter of houses in Madrid 2023, by district

    • statista.com
    Updated Jan 28, 2025
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    Statista (2025). Average price per square meter of houses in Madrid 2023, by district [Dataset]. https://www.statista.com/statistics/765426/average-price-per-square-meter-of-houses-in-madrid-by-district/
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    Dataset updated
    Jan 28, 2025
    Dataset authored and provided by
    Statistahttp://statista.com/
    Time period covered
    Dec 2023
    Area covered
    Spain
    Description

    Some of the 21 districts of Spain’s capital city are well far off the 2,800 euros per square meter that Spaniards had to pay on average to purchase a home in 2023. The Spanish capital is home to some of the wealthiest districts of Spain, such as the historic Salamanca district, which topped the list at almost 7,000 euros per square meter. Rents in SpainWhilst Madrid’s districts had the highest prices for residential real estate, the Spanish capital was not the most expensive place to rent. Ibiza topped the list of the least affordable properties to rent, with households hypothetically requiring over 162 percent of their full income to pay off the rent. Located in the Andalusian province of Malaga, Marbella ranked second on the list, with over 156 percent of the full household income. Spain: the rebirth of a property marketAfter a long period of time in which Spain’s real estate prices increased sharply, the market was hit by the global financial crisis of 2007, making the Spanish property bubble collapse and damaging home value. It can be seen that real estate prices in Spain initiated a solid recovery in 2015, reaching 131.9 house price index points in 2021 from a lowest point of 96.27 index points recorded in 2013. The property market has made great progress, but it is still far off the rest of its European counterparts, and it is positioned, in fact, at the bottom of the European list of the EMF’s house price index, which is led by Czechia.

  5. F

    Housing Inventory: Median Listing Price per Square Feet in Florida

    • fred.stlouisfed.org
    json
    Updated Jul 10, 2025
    + more versions
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    (2025). Housing Inventory: Median Listing Price per Square Feet in Florida [Dataset]. https://fred.stlouisfed.org/series/MEDLISPRIPERSQUFEEFL
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    jsonAvailable download formats
    Dataset updated
    Jul 10, 2025
    License

    https://fred.stlouisfed.org/legal/#copyright-citation-requiredhttps://fred.stlouisfed.org/legal/#copyright-citation-required

    Area covered
    Florida
    Description

    Graph and download economic data for Housing Inventory: Median Listing Price per Square Feet in Florida (MEDLISPRIPERSQUFEEFL) from Jul 2016 to Jun 2025 about square feet, FL, listing, median, price, and USA.

  6. T

    Spain House Prices

    • tradingeconomics.com
    • ar.tradingeconomics.com
    • +13more
    csv, excel, json, xml
    Updated Apr 15, 2025
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    TRADING ECONOMICS (2025). Spain House Prices [Dataset]. https://tradingeconomics.com/spain/housing-index
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    excel, xml, json, csvAvailable download formats
    Dataset updated
    Apr 15, 2025
    Dataset authored and provided by
    TRADING ECONOMICS
    License

    Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
    License information was derived automatically

    Time period covered
    Mar 31, 1987 - Mar 31, 2025
    Area covered
    Spain
    Description

    Housing Index in Spain increased to 2033 EUR/SQ. METRE in the first quarter of 2025 from 1972.10 EUR/SQ. METRE in the fourth quarter of 2024. This dataset provides the latest reported value for - Spain House Prices - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

  7. F

    Housing Inventory: Median Listing Price per Square Feet in Ohio

    • fred.stlouisfed.org
    json
    Updated Jul 10, 2025
    + more versions
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    (2025). Housing Inventory: Median Listing Price per Square Feet in Ohio [Dataset]. https://fred.stlouisfed.org/series/MEDLISPRIPERSQUFEEOH
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    jsonAvailable download formats
    Dataset updated
    Jul 10, 2025
    License

    https://fred.stlouisfed.org/legal/#copyright-citation-requiredhttps://fred.stlouisfed.org/legal/#copyright-citation-required

    Area covered
    Ohio
    Description

    Graph and download economic data for Housing Inventory: Median Listing Price per Square Feet in Ohio (MEDLISPRIPERSQUFEEOH) from Jul 2016 to Jun 2025 about square feet, OH, listing, median, price, and USA.

  8. China Property Price: YTD Avg: Overall

    • ceicdata.com
    Updated Dec 15, 2024
    + more versions
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    CEICdata.com (2024). China Property Price: YTD Avg: Overall [Dataset]. https://www.ceicdata.com/en/china/nbs-property-price-monthly/property-price-ytd-avg-overall
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    Dataset updated
    Dec 15, 2024
    Dataset provided by
    CEIC Data
    License

    Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
    License information was derived automatically

    Time period covered
    Jan 1, 2024 - Dec 1, 2024
    Area covered
    China
    Variables measured
    Price
    Description

    China Property Price: YTD Avg: Overall data was reported at 9,510.153 RMB/sq m in Mar 2025. This records a decrease from the previous number of 9,547.228 RMB/sq m for Feb 2025. China Property Price: YTD Avg: Overall data is updated monthly, averaging 5,157.474 RMB/sq m from Dec 1995 (Median) to Mar 2025, with 352 observations. The data reached an all-time high of 11,029.538 RMB/sq m in Feb 2021 and a record low of 599.276 RMB/sq m in Feb 1996. China Property Price: YTD Avg: Overall data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under China Premium Database’s Price – Table CN.PD: NBS: Property Price: Monthly.

  9. Average price per square meter of houses in Barcelona 2023, by district

    • statista.com
    Updated Jun 30, 2025
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    Statista (2025). Average price per square meter of houses in Barcelona 2023, by district [Dataset]. https://www.statista.com/statistics/765380/average-price-per-square-meter-of-houses-in-barcelona-by-district/
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    Dataset updated
    Jun 30, 2025
    Dataset authored and provided by
    Statistahttp://statista.com/
    Time period covered
    Dec 2023
    Area covered
    Barcelona, Spain
    Description

    The average price per square meter of houses in the district of Sarrià-Sant Gervasi, Barcelona, amounted to approximately ***** euros in December 2023. During the same time period the value of the square meter in L'Eixample also exceeded ***** euros.

  10. F

    Housing Inventory: Median Listing Price per Square Feet in Texas

    • fred.stlouisfed.org
    json
    Updated Jul 10, 2025
    + more versions
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    (2025). Housing Inventory: Median Listing Price per Square Feet in Texas [Dataset]. https://fred.stlouisfed.org/series/MEDLISPRIPERSQUFEETX
    Explore at:
    jsonAvailable download formats
    Dataset updated
    Jul 10, 2025
    License

    https://fred.stlouisfed.org/legal/#copyright-citation-requiredhttps://fred.stlouisfed.org/legal/#copyright-citation-required

    Area covered
    Texas
    Description

    Graph and download economic data for Housing Inventory: Median Listing Price per Square Feet in Texas (MEDLISPRIPERSQUFEETX) from Jul 2016 to Jun 2025 about square feet, listing, TX, median, price, and USA.

  11. Croatia House Prices Growth

    • ceicdata.com
    Updated Mar 15, 2024
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    Croatia House Prices Growth [Dataset]. https://www.ceicdata.com/en/indicator/croatia/house-prices-growth
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    Dataset updated
    Mar 15, 2024
    Dataset provided by
    CEIC Data
    License

    Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
    License information was derived automatically

    Time period covered
    Jun 1, 2018 - Dec 1, 2023
    Area covered
    Croatia
    Description

    Key information about House Prices Growth

    • Croatia house prices grew 1.8% YoY in Dec 2023, following an increase of 4.1% YoY in the previous half a year.
    • YoY growth data is updated half a yearly, available from Jun 1996 to Dec 2023, with an average growth rate of 3.5%.
    • House price data reached an all-time high of 25.8% in Dec 2007 and a record low of -12.6% in Jun 2010.

    CEIC calculates Houses Price Growth from semiannual Average Price of New Dwellings per Square Meter. Croatian Bureau of Statistics provides Average Price of New Dwellings per Square Meter in EUR. Houses Price Growth prior to H1 2023 is calculated from Average Price of New Dwellings per Square Meter in local currency.

  12. T

    Housing Inventory: Median Listing Price per Square Feet in Virginia

    • tradingeconomics.com
    csv, excel, json, xml
    Updated Jul 27, 2022
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    TRADING ECONOMICS (2022). Housing Inventory: Median Listing Price per Square Feet in Virginia [Dataset]. https://tradingeconomics.com/united-states/housing-inventory-median-listing-price-per-square-feet-in-virginia-fed-data.html
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    excel, csv, json, xmlAvailable download formats
    Dataset updated
    Jul 27, 2022
    Dataset authored and provided by
    TRADING ECONOMICS
    License

    Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
    License information was derived automatically

    Time period covered
    Jan 1, 1976 - Dec 31, 2025
    Area covered
    Virginia
    Description

    Housing Inventory: Median Listing Price per Square Feet in Virginia was 235.00000 U.S. $ in May of 2025, according to the United States Federal Reserve. Historically, Housing Inventory: Median Listing Price per Square Feet in Virginia reached a record high of 235.00000 in May of 2025 and a record low of 131.00000 in December of 2016. Trading Economics provides the current actual value, an historical data chart and related indicators for Housing Inventory: Median Listing Price per Square Feet in Virginia - last updated from the United States Federal Reserve on July of 2025.

  13. Average price per square meter of an apartment in Europe 2025, by city

    • statista.com
    Updated Jun 25, 2025
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    Statista (2025). Average price per square meter of an apartment in Europe 2025, by city [Dataset]. https://www.statista.com/statistics/1052000/cost-of-apartments-in-europe-by-city/
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    Dataset updated
    Jun 25, 2025
    Dataset authored and provided by
    Statistahttp://statista.com/
    Area covered
    Europe
    Description

    Geneva stands out as Europe's most expensive city for apartment purchases in early 2025, with prices reaching a staggering 15,720 euros per square meter. This Swiss city's real estate market dwarfs even high-cost locations like Zurich and London, highlighting the extreme disparities in housing affordability across the continent. The stark contrast between Geneva and more affordable cities like Nantes, France, where the price was 3,700 euros per square meter, underscores the complex factors influencing urban property markets in Europe. Rental market dynamics and affordability challenges While purchase prices vary widely, rental markets across Europe also show significant differences. London maintained its position as the continent's priciest city for apartment rentals in 2023, with the average monthly costs for a rental apartment amounting to 36.1 euros per square meter. This figure is double the rent in Lisbon, Portugal or Madrid, Spain, and substantially higher than in other major capitals like Paris and Berlin. The disparity in rental costs reflects broader economic trends, housing policies, and the intricate balance of supply and demand in urban centers. Economic factors influencing housing costs The European housing market is influenced by various economic factors, including inflation and energy costs. As of April 2025, the European Union's inflation rate stood at 2.4 percent, with significant variations among member states. Romania experienced the highest inflation at 4.9 percent, while France and Cyprus maintained lower rates. These economic pressures, coupled with rising energy costs, contribute to the overall cost of living and housing affordability across Europe. The volatility in electricity prices, particularly in countries like Italy where rates are projected to reach 153.83 euros per megawatt hour by February 2025, further impacts housing-related expenses for both homeowners and renters.

  14. e

    Property prices in the Lot

    • data.europa.eu
    png
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    Thomas Federer, Property prices in the Lot [Dataset]. https://data.europa.eu/data/datasets/5437ea1388ee387cb28f5e7e?locale=en
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    pngAvailable download formats
    Dataset authored and provided by
    Thomas Federer
    License

    Licence Ouverte / Open Licence 1.0https://www.etalab.gouv.fr/wp-content/uploads/2014/05/Open_Licence.pdf
    License information was derived automatically

    Description

    This dataset records the evolution of the price per m2 in the department of Lot all types of housing and municipalities combined. It was built from the information provided by the site immobilier Lot Les Clés du Midi. Thanks to the sales made by the real estate portal to M-1, it is possible to make a history of real estate prices in the department up to X years. This collection of information on sales allows individuals and professionals to have an overview of prices per m2 on the Lotois sector. Monthly, the graph as well as the prices per square meter in the department of Lot are updated to obtain prices per square meter in real time. Buyers also have the possibility to consult the prices according to the city and the type of property.

  15. Average apartment and house prices in France 2024, by city

    • statista.com
    Updated Jan 28, 2025
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    Statista (2025). Average apartment and house prices in France 2024, by city [Dataset]. https://www.statista.com/statistics/744823/square-meter-price-housing-by-type-france/
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    Dataset updated
    Jan 28, 2025
    Dataset authored and provided by
    Statistahttp://statista.com/
    Time period covered
    Oct 2024
    Area covered
    France
    Description

    Paris, Lyon, and Bordeaux are the most expensive cities for residential real estate in France. In Paris, the average square meter price of an apartment was over 9,000 euros in October 2024, while the price for a house was even higher. Apartment prices in Paris went as high as 15,000 euros, depending on the arrondissement.

  16. F

    Real Residential Property Prices for United States

    • fred.stlouisfed.org
    json
    Updated Jun 26, 2025
    + more versions
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    (2025). Real Residential Property Prices for United States [Dataset]. https://fred.stlouisfed.org/series/QUSR628BIS
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    jsonAvailable download formats
    Dataset updated
    Jun 26, 2025
    License

    https://fred.stlouisfed.org/legal/#copyright-citation-requiredhttps://fred.stlouisfed.org/legal/#copyright-citation-required

    Area covered
    United States
    Description

    Graph and download economic data for Real Residential Property Prices for United States (QUSR628BIS) from Q1 1970 to Q1 2025 about residential, HPI, housing, real, price index, indexes, price, and USA.

  17. M

    Texas Home Prices per Square Foot (2016-2025)

    • macrotrends.net
    csv
    Updated Jun 30, 2025
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    MACROTRENDS (2025). Texas Home Prices per Square Foot (2016-2025) [Dataset]. https://www.macrotrends.net/3785/texas-home-prices-per-square-foot
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    csvAvailable download formats
    Dataset updated
    Jun 30, 2025
    Dataset authored and provided by
    MACROTRENDS
    License

    Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
    License information was derived automatically

    Time period covered
    2016 - 2025
    Area covered
    United States, Texas
    Description

    The median listing price per square foot in a given market during the specified month.

    With the release of its September 2022 housing trends report, Realtor.com® incorporated a new and improved methodology for capturing and reporting housing inventory trends and metrics. The new methodology updates and improves the calculation of time on market and improves handling of duplicate listings. Most areas across the country will see minor changes with a smaller handful of areas seeing larger updates. As a result of these changes, the data released since October 2022 will not be directly comparable with previous data releases (files downloaded before October 2022) and Realtor.com® economics blog posts. However, future data releases, including historical data, will consistently apply the new methodology. More details are available at the source's Real Estate Data Library (https://www.realtor.com/research/data/).

    With the release of its November 2021 housing trends report, Realtor.com® incorporated a new and improved methodology for capturing and reporting housing inventory trends and metrics. The new methodology uses the latest and most accurate data mapping of listing statuses to yield a cleaner and more consistent measurement of active listings at both the national and local level. The methodology has also been adjusted to better account for missing data in some fields including square footage. Most areas across the country will see minor changes with a smaller handful of areas seeing larger updates. As a result of these changes, the data released since December 2021 will not be directly comparable with previous data releases (files downloaded before December 2021) and Realtor.com® economics blog posts. However, future data releases, including historical data, will consistently apply the new methodology. More details are available at the source's Real Estate Data Library (https://www.realtor.com/research/data/).

  18. Average residential real estate square meter prices in Europe 2023, by...

    • statista.com
    Updated Jun 20, 2025
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    Statista (2025). Average residential real estate square meter prices in Europe 2023, by country [Dataset]. https://www.statista.com/statistics/722905/average-residential-square-meter-prices-in-eu-28-per-country/
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    Dataset updated
    Jun 20, 2025
    Dataset authored and provided by
    Statistahttp://statista.com/
    Time period covered
    2023
    Area covered
    Europe
    Description

    The average transaction price of new housing in Europe was the highest in Norway, whereas existing homes were the most expensive in Austria. Since there is no central body that collects and tracks transaction activity or house prices across the whole continent or the European Union, not all countries are included. To compile the ranking, the source weighed the transaction prices of residential properties in the most important cities in each country based on data from their national offices. For example, in Germany, the cities included were Munich, Hamburg, Frankfurt, and Berlin. House prices have been soaring, with Sweden topping the ranking Considering the RHPI of houses in Europe (the price index in real terms, which measures price changes of single-family properties adjusted for the impact of inflation), however, the picture changes. Sweden, Luxembourg and Norway top this ranking, meaning residential property prices have surged the most in these countries. Real values were calculated using the so-called Personal Consumption Expenditure Deflator (PCE), This PCE uses both consumer prices as well as consumer expenditures, like medical and health care expenses paid by employers. It is meant to show how expensive housing is compared to the way of living in a country. Home ownership highest in Eastern Europe The home ownership rate in Europe varied from country to country. In 2020, roughly half of all homes in Germany were owner-occupied whereas home ownership was at nearly ** percent in Romania or around ** percent in Slovakia and Lithuania. These numbers were considerably higher than in France or Italy, where homeowners made up ** percent and ** percent of their respective populations.For more information on the topic of property in Europe, visit the following pages as a starting point for your research: real estate investments in Europe and residential real estate in Europe.

  19. g

    Average price per square meter built of the purchase and sale of free...

    • gimi9.com
    Updated Jun 23, 2018
    + more versions
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    (2018). Average price per square meter built of the purchase and sale of free housing in the Basque Country per quarter of registration, according to Historical Territory and type of housing (does it). | gimi9.com [Dataset]. https://gimi9.com/dataset/eu_970f35935ba9420a0bf74e1f8f87663bdcedfbc2/
    Explore at:
    Dataset updated
    Jun 23, 2018
    License

    Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
    License information was derived automatically

    Area covered
    Basque Country
    Description

    The operation Statistics on the sale of real estate allows to know the periodic evolution of the supply and prices of homes, garages and premises in the Basque Country. Your information feeds the system of indicators for monitoring the new and used housing policy, purchase and rental. The tables disseminate the changes recorded in the variable with respect to the same quarter of the previous year, the annual evolution and that of the last three months. The results are disseminated to municipalities over 40,000 inhabitants.More information at https://www.euskadi.eus/estadistica-de-compraventa-de-inmuebles-ecvi/web01-s2ing/es/"/target="blank"> departmental statistical portal.

  20. Kazakhstan House Prices Growth

    • ceicdata.com
    Updated Mar 15, 2025
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    CEICdata.com (2025). Kazakhstan House Prices Growth [Dataset]. https://www.ceicdata.com/en/indicator/kazakhstan/house-prices-growth
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    Dataset updated
    Mar 15, 2025
    Dataset provided by
    CEIC Data
    License

    Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
    License information was derived automatically

    Time period covered
    Mar 1, 2024 - Feb 1, 2025
    Area covered
    Kazakhstan
    Description

    Key information about House Prices Growth

    • Kazakhstan house prices grew 5.9% YoY in Feb 2025, following an increase of 6.7% YoY in the previous month.
    • YoY growth data is updated monthly, available from Nov 2013 to Feb 2025, with an average growth rate of 7.4%.
    • House price data reached an all-time high of 75.6% in May 2022 and a record low of -4.2% in Jan 2024.

    CEIC calculates House Prices Growth from Average Price of Existing Dwellings per Square Meter. The Bureau of National Statistics of the Agency for Strategic Planning and Reforms of the Republic of Kazakhstan provides Average Price of Existing Dwellings per Square Meter in local currency.

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Statista (2025). Average price per square foot in new single-family homes U.S. 2000-2023 [Dataset]. https://www.statista.com/statistics/682549/average-price-per-square-foot-in-new-single-family-houses-usa/
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Average price per square foot in new single-family homes U.S. 2000-2023

Explore at:
Dataset updated
Jun 20, 2025
Dataset authored and provided by
Statistahttp://statista.com/
Area covered
United States
Description

The average price per square foot of floor space in new single-family housing in the United States decreased after the great financial crisis, followed by several years of stagnation. Since 2012, the price has continuously risen, hitting *** U.S. dollars per square foot in 2022. In 2024, the average sales price of a new home exceeded ******* U.S. dollars. Development of house sales in the U.S. One of the reasons for rising property prices is the gradual growth of house sales between 2011 and 2020. This period was marked by the gradual recovery following the subprime mortgage crisis and a growing housing sentiment. Another significant factor for the housing demand was the growing number of new household formations each year. Despite this trend, housing transactions plummeted in 2021, amid soaring prices and borrowing costs. In 2021, the average construction cost for single-family housing rose by nearly ** percent year-on-year, and in 2022, the increase was even higher, at close to ** percent. Financing a house purchase Mortgage interest rates in the U.S. rose dramatically in 2022 and remained elevated until 2024. In 2020, a homebuyer could lock in a 30-year fixed interest rate of under ***** percent, whereas in 2024, the average rate for the same mortgage type was more than twice higher. That has led to a decline in homebuyer sentiment, and an increasing share of the population pessimistic about buying a home in the current market.

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