{"format":"alysly-page/1","url":"https://alysly.com/assets/real-estate/","json":"https://alysly.com/json/assets/real-estate/index.json","lang":"en-US","title":"Real Estate as an Investment: Price Trends Compared – Alysly","description":"Residential property prices in Europe and the US: official indices per country and metro area, returns and a comparison against the S&P 500, MSCI World…","modified":"2026-08-01T00:00:00Z","alternates":[{"lang":"de-DE","url":"https://alysly.com/de/assets/immobilien/","json":"https://alysly.com/json/de/assets/immobilien/index.json"}],"about":"Machine-readable version of the page at url. It contains the text, tables and key figures published there, but not the interactive charts and tools.","breadcrumb":[{"name":"Assets","url":"https://alysly.com/assets/"},{"name":"Real Estate as an Investment: Price Trends Compared","url":"https://alysly.com/assets/real-estate/"}],"content":[{"type":"heading","level":1,"text":"Residential Property Prices in Europe and the US: Official Indices by Country and Metro Area, Returns and Comparison With Major Asset Classes"},{"type":"paragraph","text":"Residential property compared with stocks, gold and crypto. The figures rest on official price indices for 15 markets."},{"type":"paragraph","text":"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."},{"type":"heading","level":2,"text":"Real Estate vs. the Markets"},{"type":"paragraph","text":"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.","links":[{"text":"S&P 500","href":"https://alysly.com/markets/indices/sp500/"},{"text":"MSCI World","href":"https://alysly.com/markets/indices/msci-world/"},{"text":"Bitcoin","href":"https://alysly.com/markets/crypto/bitcoin/"},{"text":"gold","href":"https://alysly.com/markets/metals/gold/"}]},{"type":"list","ordered":false,"items":[{"text":"Spain Residential Property History and sales Spain +26.0% S&P 500 +24.0% MSCI World +34.0% Bitcoin +2.0% Gold +54.0%","links":[{"text":"Spain Residential Property History and sales","href":"https://alysly.com/assets/real-estate/#re-es"}]},{"text":"New York Metro Area History and sales New York +12.0% S&P 500 +24.0% MSCI World +34.0% Bitcoin +2.0% Gold +54.0%","links":[{"text":"New York Metro Area History and sales","href":"https://alysly.com/assets/real-estate/#re-us-nyc"}]},{"text":"Germany Residential Property History and sales Germany +4.0% S&P 500 +24.0% MSCI World +34.0% Bitcoin +2.0% Gold +54.0%","links":[{"text":"Germany Residential Property History and sales","href":"https://alysly.com/assets/real-estate/#re-de"}]},{"text":"United States Residential Property (Case-Shiller) History and sales United States +3.0% S&P 500 +24.0% MSCI World +34.0% Bitcoin +2.0% Gold +54.0%","links":[{"text":"United States Residential Property (Case-Shiller) History and sales","href":"https://alysly.com/assets/real-estate/#re-us"}]},{"text":"France Residential Property History and sales France 0.0% S&P 500 +24.0% MSCI World +34.0% Bitcoin +2.0% Gold +54.0%","links":[{"text":"France Residential Property History and sales","href":"https://alysly.com/assets/real-estate/#re-fr"}]}]},{"type":"paragraph","text":"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","links":[{"text":"All markets in detail","href":"https://alysly.com/assets/real-estate/"}]},{"type":"paragraph","text":"Data note 1","href":"#dn-1"},{"type":"heading","level":2,"text":"Price Index for This Asset Class"},{"type":"paragraph","text":"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."},{"type":"paragraph","text":"Data note 2","href":"#dn-2"},{"type":"heading","level":2,"text":"Ranked by Return per Year"},{"type":"paragraph","text":"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."},{"type":"table","caption":"Positions by return per year","columns":["#","Position","Per year","real","Years","Records","Sales/yr","Gap"],"rows":[["1",{"text":"Portugal · Residential Property","href":"#re-pt"},"+5.6%","+3.4%","18.2","74","–","–"],["2",{"text":"Austria · Residential Property","href":"#re-at"},"+5.2%","+2.9%","16.2","66","–","–"],["3",{"text":"Los Angeles · Metro Area","href":"#re-us-lax"},"+5.2%","–","39.6","476","–","–"],["4",{"text":"Sweden · Residential Property","href":"#re-se"},"+4.9%","+2.7%","21.2","86","–","–"],["5",{"text":"Miami · Metro Area","href":"#re-us-mia"},"+4.9%","–","39.6","476","–","–"],["6",{"text":"Poland · Residential Property","href":"#re-pl"},"+4.8%","+2.6%","16.2","66","–","–"],["7",{"text":"United States · Residential Property (Case-Shiller)","href":"#re-us"},"+4.3%","–","39.6","476","–","–"],["8",{"text":"New York · Metro Area","href":"#re-us-nyc"},"+4.0%","–","39.6","476","–","–"],["9",{"text":"Netherlands · Residential Property","href":"#re-nl"},"+3.5%","+1.3%","21.2","86","–","–"],["10",{"text":"European Union · Residential Property","href":"#re-eu"},"+3.3%","+1.1%","21.2","86","–","–"],["11",{"text":"Germany · Residential Property","href":"#re-de"},"+2.8%","+0.6%","21.2","86","–","–"],["12",{"text":"Euro Area · Residential Property","href":"#re-ea"},"+2.7%","+0.5%","21.2","86","–","–"],["13",{"text":"Spain · Residential Property","href":"#re-es"},"+2.5%","+0.4%","20.5","83","–","–"],["14",{"text":"France · Residential Property","href":"#re-fr"},"+2.1%","0.0%","21.2","86","–","–"],["15",{"text":"Italy · Residential Property","href":"#re-it"},"+0.2%","-1.9%","16.2","66","–","–"]]},{"type":"paragraph","text":"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."},{"type":"paragraph","text":"Data note 3","href":"#dn-3"},{"type":"heading","level":2,"text":"European Union · Residential Property"},{"type":"paragraph","text":"168.6 index level · Jun 30, 2026"},{"type":"paragraph","text":"86 data points 86 quarters"},{"type":"facts","items":[{"label":"1 year","value":"+4.7%"}]},{"type":"paragraph","text":"3 years +13.8% +4.4% a year"},{"type":"paragraph","text":"since start +101.8% +3.3% a year"},{"type":"paragraph","text":"Official price index, 86 data points. Source: Eurostat."},{"type":"heading","level":2,"text":"Euro Area · Residential Property"},{"type":"paragraph","text":"158.8 index level · Jun 30, 2026"},{"type":"paragraph","text":"86 data points 86 quarters"},{"type":"facts","items":[{"label":"1 year","value":"+3.8%"}]},{"type":"paragraph","text":"3 years +10.7% +3.5% a year"},{"type":"paragraph","text":"since start +79.9% +2.7% a year"},{"type":"paragraph","text":"Official price index, 86 data points. Source: Eurostat."},{"type":"heading","level":2,"text":"Germany · Residential Property"},{"type":"paragraph","text":"153.5 index level · Jun 30, 2026"},{"type":"paragraph","text":"86 data points 86 quarters"},{"type":"facts","items":[{"label":"1 year","value":"+0.6%"}]},{"type":"paragraph","text":"3 years +1.3% +0.4% a year"},{"type":"paragraph","text":"since start +82.3% +2.8% a year"},{"type":"paragraph","text":"Official price index, 86 data points. Source: Eurostat."},{"type":"heading","level":2,"text":"France · Residential Property"},{"type":"paragraph","text":"125.5 index level · Jun 30, 2026"},{"type":"paragraph","text":"86 data points 86 quarters"},{"type":"facts","items":[{"label":"1 year","value":"-0.8%"}]},{"type":"paragraph","text":"3 years -4.7% -1.6% a year"},{"type":"paragraph","text":"since start +57.3% +2.1% a year"},{"type":"paragraph","text":"Official price index, 86 data points. Source: Eurostat."},{"type":"heading","level":2,"text":"Spain · Residential Property"},{"type":"paragraph","text":"200.6 index level · Jun 30, 2026"},{"type":"paragraph","text":"83 data points 83 quarters"},{"type":"facts","items":[{"label":"1 year","value":"+12.1%"}]},{"type":"paragraph","text":"3 years +36.5% +10.9% a year"},{"type":"paragraph","text":"since start +62.2% +2.5% a year"},{"type":"paragraph","text":"Official price index, 83 data points. Source: Eurostat."},{"type":"heading","level":2,"text":"Italy · Residential Property"},{"type":"paragraph","text":"121.0 index level · Jun 30, 2026"},{"type":"paragraph","text":"66 data points 66 quarters"},{"type":"facts","items":[{"label":"1 year","value":"+4.0%"}]},{"type":"paragraph","text":"3 years +11.2% +3.6% a year"},{"type":"paragraph","text":"since start +3.6% +0.2% a year"},{"type":"paragraph","text":"Official price index, 66 data points. Source: Eurostat."},{"type":"heading","level":2,"text":"Netherlands · Residential Property"},{"type":"paragraph","text":"222.6 index level · Jun 30, 2026"},{"type":"paragraph","text":"86 data points 86 quarters"},{"type":"facts","items":[{"label":"1 year","value":"+4.3%"}]},{"type":"paragraph","text":"3 years +23.0% +7.2% a year"},{"type":"paragraph","text":"since start +112.9% +3.5% a year"},{"type":"paragraph","text":"Official price index, 86 data points. Source: Eurostat."},{"type":"heading","level":2,"text":"Austria · Residential Property"},{"type":"paragraph","text":"175.4 index level · Jun 30, 2026"},{"type":"paragraph","text":"66 data points 66 quarters"},{"type":"facts","items":[{"label":"1 year","value":"+5.1%"}]},{"type":"paragraph","text":"3 years +6.5% +2.1% a year"},{"type":"paragraph","text":"since start +133.7% +5.2% a year"},{"type":"paragraph","text":"Official price index, 66 data points. Source: Eurostat."},{"type":"heading","level":2,"text":"Portugal · Residential Property"},{"type":"paragraph","text":"301.4 index level · Jun 30, 2026"},{"type":"paragraph","text":"74 data points 74 quarters"},{"type":"facts","items":[{"label":"1 year","value":"+16.5%"}]},{"type":"paragraph","text":"3 years +47.2% +13.8% a year"},{"type":"paragraph","text":"since start +176.0% +5.6% a year"},{"type":"paragraph","text":"Official price index, 74 data points. Source: Eurostat."},{"type":"heading","level":2,"text":"Poland · Residential Property"},{"type":"paragraph","text":"229.2 index level · Jun 30, 2026"},{"type":"paragraph","text":"66 data points 66 quarters"},{"type":"facts","items":[{"label":"1 year","value":"+6.3%"}]},{"type":"paragraph","text":"3 years +31.0% +9.4% a year"},{"type":"paragraph","text":"since start +119.1% +4.8% a year"},{"type":"paragraph","text":"Official price index, 66 data points. Source: Eurostat."},{"type":"heading","level":2,"text":"Sweden · Residential Property"},{"type":"paragraph","text":"139.3 index level · Jun 30, 2026"},{"type":"paragraph","text":"86 data points 86 quarters"},{"type":"facts","items":[{"label":"1 year","value":"+4.8%"}]},{"type":"paragraph","text":"3 years +4.6% +1.5% a year"},{"type":"paragraph","text":"since start +181.7% +4.9% a year"},{"type":"paragraph","text":"Official price index, 86 data points. Source: Eurostat."},{"type":"heading","level":2,"text":"United States · Residential Property (Case-Shiller)"},{"type":"paragraph","text":"336.7 index level · Aug 1, 2026"},{"type":"paragraph","text":"476 data points 476 months"},{"type":"facts","items":[{"label":"1 year","value":"+2.1%"}]},{"type":"paragraph","text":"3 years +8.1% +2.6% a year"},{"type":"paragraph","text":"since start +428.4% +4.3% a year"},{"type":"paragraph","text":"Official price index, 476 data points. Source: S&P CoreLogic Case-Shiller (FRED)."},{"type":"heading","level":2,"text":"New York · Metro Area"},{"type":"paragraph","text":"354.7 index level · Aug 1, 2026"},{"type":"paragraph","text":"476 data points 476 months"},{"type":"facts","items":[{"label":"1 year","value":"+6.2%"}]},{"type":"paragraph","text":"3 years +22.0% +6.8% a year"},{"type":"paragraph","text":"since start +376.6% +4.0% a year"},{"type":"paragraph","text":"Official price index, 476 data points. Source: S&P CoreLogic Case-Shiller (FRED)."},{"type":"heading","level":2,"text":"Los Angeles · Metro Area"},{"type":"paragraph","text":"447.4 index level · Aug 1, 2026"},{"type":"paragraph","text":"476 data points 476 months"},{"type":"facts","items":[{"label":"1 year","value":"+1.4%"}]},{"type":"paragraph","text":"3 years +7.1% +2.3% a year"},{"type":"paragraph","text":"since start +654.1% +5.2% a year"},{"type":"paragraph","text":"Official price index, 476 data points. Source: S&P CoreLogic Case-Shiller (FRED)."},{"type":"heading","level":2,"text":"Miami · Metro Area"},{"type":"paragraph","text":"454.7 index level · Aug 1, 2026"},{"type":"paragraph","text":"476 data points 476 months"},{"type":"facts","items":[{"label":"1 year","value":"+4.2%"}]},{"type":"paragraph","text":"3 years +7.7% +2.5% a year"},{"type":"paragraph","text":"since start +563.8% +4.9% a year"},{"type":"paragraph","text":"Official price index, 476 data points. Source: S&P CoreLogic Case-Shiller (FRED)."},{"type":"paragraph","text":"Data note 1","href":"#dn-1"},{"type":"paragraph","text":"Updated Aug 1, 2026"},{"type":"heading","level":2,"id":"note-legend-h","text":"Data Notes"},{"type":"paragraph","text":"All calculations run automatically and are not investment advice."},{"type":"list","ordered":true,"items":[{"id":"dn-1","text":"Real auction prices of Pokémon cards graded PSA 10, Rolex references and selected classic-car models, condensed into period medians; residential property via official price indices. Comparisons are indexed to 100 against the S&P 500, MSCI World, Bitcoin and gold on a logarithmic scale."},{"id":"dn-2","text":"Matched-model index from price pairs of the same standardized good, quarterly, base 100 at the first quarter. Not computed from medians."},{"id":"dn-3","text":"Annual return from the first to the latest period value, only for positions with at least ten records; real = after inflation over the same period."}]},{"type":"paragraph","text":"Data and methodology: Alysly · Responsible for content: Alexander Bock","links":[{"text":"Alysly","href":"https://alysly.com/methodology/"},{"text":"Alexander Bock","href":"https://alysly.com/about/"}]},{"type":"paragraph","text":"View all data notes","href":"https://alysly.com/notes/"}],"structured_data":[{"@context":"https://schema.org","@graph":[{"@type":"Organization","@id":"https://alysly.com/#org","name":"Alysly","url":"https://alysly.com/","logo":{"@type":"ImageObject","url":"https://alysly.com/img/icon-512.png","width":512,"height":512},"description":"Free analysis tools for traders and long-term investors. 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