House prices in Europe have surged dramatically over the last decade, reaching levels that many analysts now describe as dangerously overvalued. According to a new European Commission report, property values in several countries have risen well beyond their real market value, driven by tourism, short-term rentals, investor demand, and slow construction.
One southern European country stands out as the most overvalued housing market in the European Union, but it’s not the only country facing severe affordability pressures. Click on to see where house prices have surged the most.