EU house prices outpace incomes by 6.8% since 2015

The EU house price-to-income ratio stood 6.8% above its 2015 level in 2025, rising in 17 countries and falling in 10: Portugal up 60.8%, Romania down 42.8%.

The facts

The EU house price-to-income ratio in 2025 stood +6.8% above its 2015 level, Eurostat reported on 9 November 2026.
The ratio rose in 17 EU countries across the decade and fell in the other 10.
Portugal recorded the largest rise at 60.8%, ahead of the Netherlands at 34.3%, Hungary at 26.5%, Czechia at 25.8% and Spain at 24.5%.
Romania's ratio changed by -42.8%, Finland's by -25.2% and Bulgaria's by -16.2%, the three largest moves among the 10 countries where it fell.
Measured against its own long-run average since 2000, the EU ratio sat 7.9% above average in 2007, 6.4% below in 2014, 7.4% above in 2022 and stood at +0.03% in 2025.

What it means for your money

Portuguese homes now cost 60.8% more income than in 2015. Romanian homes cost 42.8% less.
In Portugal, the Netherlands and Hungary prices pulled away from local wages across the decade, and that gap is what the next buyer has to fund.
Glopra's own data puts Portugal at $2,430 per square metre with a bubble risk score of 84 out of 100, the highest of the four risk bands.
Romania, Finland and Bulgaria lead the 10 markets where incomes gained on prices over the decade, which lowers the multiple of local earnings a buyer has to carry.

What to watch

Eurostat states these figures compare price changes with income changes over time and do not rank countries by how expensive homes are relative to income levels in absolute terms.
The ratio covers one dimension of affordability; mortgage financing costs and housing's share of disposable income are measured separately.
The standardised version is an auxiliary indicator in the EU's Macroeconomic Imbalance Procedure scoreboard, so a country far above its own long-run average can draw policy attention.

Sources: Eurostat https://ec.europa.eu/eurostat/en/web/products-eurostat-news/w/ddn-20261109-1