Residential Property Prices in Europe and the US: Official Indices by Country and Metro Area, Returns and Comparison With Major Asset Classes

Residential property compared with stocks, gold and crypto. The figures rest on official price indices for 15 markets.

Indices, not purchase prices. Official price indices track a typical property in each market rather than the price of a specific house. The series are nominal, meaning they are not adjusted for inflation. They also exclude transaction costs, rental income, maintenance and financing, all of which can change an investor's actual return substantially.

Real Estate vs. the Markets

Official residential property price indices compared with the S&P 500, MSCI World, Bitcoin and gold. All series are indexed to 100 as of July 11, 2024, and shown on a logarithmic scale.

Period Jul 11, 2024 to Jun 30, 2026. Positions are picked by the number of recorded sales, not by return. The series are official price indices, not individual sales; purchase costs, taxes and holding costs are not deducted. All markets in detail

Data note 1

Price Index for This Asset Class

No index is computed for this class, deliberately. These series already are official indices built with exactly this method. Computing it again would mean estimating an estimate.

Data note 2

Ranked by Return per Year

15 positions with at least 10 documented sales. Annual return from the first to the most recent period value; real = after inflation over the same period.

Positions by return per year
#PositionPer yearrealYearsRecordsSales/yrGap
1Portugal · Residential Property+5.7%+3.5%18.274––
2Austria · Residential Property+5.4%+3.1%16.266––
3Los Angeles · Metro Area+5.2%–39.6476––
4Sweden · Residential Property+5.0%+2.8%21.286––
5Poland · Residential Property+4.9%+2.7%16.266––
6Miami · Metro Area+4.9%–39.6476––
7United States · Residential Property (Case-Shiller)+4.3%–39.6476––
8New York · Metro Area+4.0%–39.6476––
9Netherlands · Residential Property+3.6%+1.4%21.286––
10European Union · Residential Property+3.4%+1.2%21.286––
11Germany · Residential Property+2.9%+0.7%21.286––
12Euro Area · Residential Property+2.8%+0.6%21.286––
13Spain · Residential Property+2.4%+0.3%20.583––
14France · Residential Property+2.2%+0.1%21.286––
15Italy · Residential Property+0.2%-1.9%16.266––

For context: the median across all 15 covered positions is +4.0% a year. “Gap” is the typical time between two sales — it tells you how long you may wait for a buyer. Returns are gross price changes: premium, commission, grading and storage costs are not deducted.

Data note 3

European Union · Residential Property

168.6 index level · Jun 30, 2026

86 data points86 quarters

1 year +4.7%
3 years +13.8%+4.4% a year
since start +101.8%+3.4% a year

Official price index, 86 data points. Source: Eurostat.

Euro Area · Residential Property

158.8 index level · Jun 30, 2026

86 data points86 quarters

1 year +3.8%
3 years +10.7%+3.5% a year
since start +79.9%+2.8% a year

Official price index, 86 data points. Source: Eurostat.

Germany · Residential Property

153.5 index level · Jun 30, 2026

86 data points86 quarters

1 year +0.6%
3 years +1.3%+0.4% a year
since start +82.3%+2.9% a year

Official price index, 86 data points. Source: Eurostat.

France · Residential Property

125.5 index level · Jun 30, 2026

86 data points86 quarters

1 year -0.8%
3 years -4.7%-1.6% a year
since start +57.3%+2.2% a year

Official price index, 86 data points. Source: Eurostat.

Spain · Residential Property

200.6 index level · Jun 30, 2026

83 data points83 quarters

1 year +12.1%
3 years +36.5%+10.9% a year
since start +62.2%+2.4% a year

Official price index, 83 data points. Source: Eurostat.

Italy · Residential Property

121.0 index level · Jun 30, 2026

66 data points66 quarters

1 year +4.0%
3 years +11.2%+3.6% a year
since start +3.6%+0.2% a year

Official price index, 66 data points. Source: Eurostat.

Netherlands · Residential Property

222.6 index level · Jun 30, 2026

86 data points86 quarters

1 year +4.3%
3 years +23.0%+7.2% a year
since start +112.9%+3.6% a year

Official price index, 86 data points. Source: Eurostat.

Austria · Residential Property

175.4 index level · Jun 30, 2026

66 data points66 quarters

1 year +5.1%
3 years +6.5%+2.1% a year
since start +133.7%+5.4% a year

Official price index, 66 data points. Source: Eurostat.

Portugal · Residential Property

301.4 index level · Jun 30, 2026

74 data points74 quarters

1 year +16.5%
3 years +47.2%+13.8% a year
since start +176.0%+5.7% a year

Official price index, 74 data points. Source: Eurostat.

Poland · Residential Property

229.2 index level · Jun 30, 2026

66 data points66 quarters

1 year +6.3%
3 years +31.0%+9.4% a year
since start +119.1%+4.9% a year

Official price index, 66 data points. Source: Eurostat.

Sweden · Residential Property

139.3 index level · Jun 30, 2026

86 data points86 quarters

1 year +4.8%
3 years +4.6%+1.5% a year
since start +181.7%+5.0% a year

Official price index, 86 data points. Source: Eurostat.

United States · Residential Property (Case-Shiller)

336.7 index level · Aug 1, 2026

476 data points476 months

1 year +2.1%
3 years +8.1%+2.6% a year
since start +428.4%+4.3% a year

Official price index, 476 data points. Source: S&P CoreLogic Case-Shiller (FRED).

New York · Metro Area

354.7 index level · Aug 1, 2026

476 data points476 months

1 year +6.2%
3 years +22.0%+6.8% a year
since start +376.6%+4.0% a year

Official price index, 476 data points. Source: S&P CoreLogic Case-Shiller (FRED).

Los Angeles · Metro Area

447.4 index level · Aug 1, 2026

476 data points476 months

1 year +1.4%
3 years +7.1%+2.3% a year
since start +654.1%+5.2% a year

Official price index, 476 data points. Source: S&P CoreLogic Case-Shiller (FRED).

Miami · Metro Area

454.7 index level · Aug 1, 2026

476 data points476 months

1 year +4.2%
3 years +7.7%+2.5% a year
since start +563.8%+4.9% a year

Official price index, 476 data points. Source: S&P CoreLogic Case-Shiller (FRED).

Data note 1

Updated