European capitals unequally affected by the downturn in real estate

While in many capitals, the property prices fall ... some still resist the crisis. A survey conducted Era Real Estate from 19 countries reported significant disparities across Europe.

Victim withdrawal of foreign investors, including Russian, Monaco has seen its price tumbled 9% during the first six months of the year, according to Era Immobilier

Leaded by an increase of double-digit unemployment and an oversupply of homes, real estate Spain also continues to crumble. Over the same period, falling property prices rose 10% across the country with declines of nearly 7% in major cities like Madrid or Barcelona.

The Anglo-Saxons are not yet out of the storm: in the first half, London (- 3%) and Dublin (-7%) showed strong declines.

Conversely, some cities are showing resistance. Brussels is the case, which according Era still enjoys a strong local demand. Also include Geneva in Switzerland and Istanbul in Turkey: "Two countries where recent legal developments facilitate home ownership by foreign investors," said Francois Gagnon, president of the European Real Estate Network Era.

According to the real estate network, Paris is still a stronghold ... But if prices remain generally in the capital, this good performance also conceals large disparities between districts.

The most expensive capitals in Europe (*):
Monaco: € 30,000
London: between 10,000 and 12,000 euros
Geneva: 7500 at 8,000 euros per
Milan, Paris: 6000 to 6500 euros

The cheapest cities:
Istanbul: 800 to 900 euros
Budapest: 1200 EUR
Sofia: 2500 EUR

(*) Average price / square meter. Source Era Real Estate