|Bosnia & H.||5.10%|
Europe: Economic freedom index, 5-year change
Increased economic freedom is strongly associated with high GDP growth, and therefore with rises in residential property prices. Changes in a countrys score on the Heritage Foundations freedom index are calculated by the Global Property Guide to produce a 5-point rating:
- Greatly Improved
- Much Worse
Source: Calculated using figures from The Heritage Foundation and the Wall Street Journal
European statistics. European house price and other economic statistics vary in quality. It is often a surprise to non-Europeans to discover that swathes of this rich, highly developed continent are not covered by good housing statistics.
Northern European countries have generally good house price time-series. In particular, all the Scandinavian countries generate excellent house price statistics. In the Baltics the situation is improving rapidly. Latvia generates an official annual house price time-series, and the realtor Latio publishes a monthly index. Lithuania has no official house price or rents time-series, but the firm Inreal publishes annual prices and rents for Vilnius for a few years. Estonia has high-quality housing statistics, generated by the Statistical Office of Estonia (SOE). Data on house prices, house sales and construction activities, as well as general economics statistics are all available from the SOE.
Central Europe is mixed. German house price statistics are weak. France has very good statistics, the Netherlands has good data, Belgium and Austria have acceptable data. Spain has made giant strides, Portugal is weaker.
Southern Europe tends to have weak statistical data. There is a particular lack of housing statistics in Italy, Greece, and Turkey (though Italy has some private, for-sale, data generators).
Statistics in Eastern Europe are weak. Efforts are being made to change this, for instance Bulgaria began publishing a house price time-series in 2006. Aside from this, the Czech Republic has an official index, and in Poland, REAS Konsulting produces a for-sale index.