AVENA
Live Data · 38cities · Updated daily

Is your city in a
property bubble?

38European cities rated by price, growth, and risk. Composite bubble score 0–100. Refreshed daily. Source-verified.

Bubble Territory
5
Overheating
9
Warming
11
Healthy
13

All 30 cities ranked.

Sorted by bubble score · highest first
#CityPrice/m²YoYBubble ScoreAffordabilityP/I RatioStatus
1🇱🇺LuxembourgLuxembourg€12.5k-1.4%
91
15/10019.8xBubble›
2🇩🇪MunichGermany€9,800+4.2%
89
22/10016.2xBubble›
3🇨🇭ZurichSwitzerland€14.2k+2.8%
88
28/10011.3xBubble›
4🇳🇱AmsterdamNetherlands€7,500+5.8%
85
24/10014.9xBubble›
5🇫🇷ParisFrance€11.2k+1.2%
82
19/10018.5xBubble›
6🇩🇪FrankfurtGermany€7,200+3.1%
78
31/10012.8xOverheating›
7🇦🇹ViennaAustria€6,100-2.1%
72
35/10011.5xOverheating›
8🇮🇪DublinIreland€5,900+3.7%
71
29/10012.4xOverheating›
9🇩🇪HamburgGermany€6,500+1.5%
69
34/10011.9xOverheating›
10🇸🇪StockholmSweden€7,800-3.5%
68
33/10012.1xOverheating›
11🇨🇿PragueCzech Republic€4,600+5.2%
67
32/10013.5xOverheating›
12🇩🇰CopenhagenDenmark€6,900+2.4%
65
37/10010.8xOverheating›
13🇩🇪BerlinGermany€5,800-1.8%
64
36/10011.7xOverheating›
14🇵🇹LisbonPortugal€5,100+5.4%
63
30/10013.1xOverheating›
15🇮🇹MilanItaly€5,200+6.3%
61
40/10010.2xWarming›
16🇵🇹CascaisPortugal€5,200+5.8%
60
25/10014.2xWarming›
17🇪🇸BarcelonaSpain€4,800+7.9%
58
38/10010.5xWarming›
18🇪🇸MarbellaSpain€4,500+11.2%
58
30/10012.8xWarming›
19🇫🇷NiceFrance€5,500+4.8%
58
28/10013.5xWarming›
20🇵🇱WarsawPoland€3,200+9.1%
56
44/1008.8xWarming›
21🇵🇹PortoPortugal€3,800+4.8%
55
35/10011.2xWarming›
22🇭🇷SplitCroatia€3,000+12.8%
55
35/10011.5xWarming›
23🇪🇸MalagaSpain€3,100+12.5%
54
41/1009.6xWarming›
24🇪🇸MadridSpain€4,200+6.1%
52
42/1009.3xWarming›
25🇫🇷LyonFrance€5,100-0.6%
51
39/1009.8xWarming›
26🇭🇺BudapestHungary€2,800+8.4%
49
46/1008.2xHealthy›
27🇫🇮HelsinkiFinland€5,400-4.2%
48
41/1009.1xHealthy›
28🇪🇪TallinnEstonia€3,500+3.9%
47
43/1008.7xHealthy›
29🇬🇷AthensGreece€2,600+11.2%
45
43/1009.4xHealthy›
30🇧🇪BrusselsBelgium€3,900+1.8%
44
52/1007.6xHealthy›
31🇱🇹VilniusLithuania€2,900+6.7%
43
49/1007.8xHealthy›
32🇮🇹RomeItaly€4,100+2.1%
42
48/1008.9xHealthy›
33🇪🇸ValenciaSpain€2,400+10.8%
41
54/1007.1xHealthy›
34🇷🇴BucharestRomania€2,100+7.6%
38
55/1006.9xHealthy›
35🇵🇹FaroPortugal€2,800+6.5%
38
48/1008.5xHealthy›
36🇪🇸AlicanteSpain€1,900+10.5%
35
55/1006.2xHealthy›
37🇨🇾NicosiaCyprus€2,000+6.5%
30
52/1007.2xHealthy›
38🇵🇹NazarePortugal€1,800+8.2%
28
58/1005.8xHealthy›
Methodology

How we score.

The Avena Bubble Score(0–100) is a composite index reflecting how stretched a city's housing market is relative to fundamentals.

  • 40%Price-to-Income Ratio
    How many years of local median income to buy a median flat
  • 30%YoY Price Acceleration
    Speed of price growth compared to long-term trend
  • 15%Credit Growth Proxy
    Mortgage lending growth relative to GDP
  • 15%Affordability Gap
    Rent-to-own spread adjusted for local rates
Reference

Risk scale.

0 – 30Healthy
Prices are in line with incomes and historical norms.
30 – 50Warming
Growth is above trend. Monitor closely.
50 – 70Overheating
Prices are significantly detached from fundamentals.
70 – 100Bubble Territory
Extreme risk. Correction likely within 12–24 months.
Sources

Data provenance.

Data is sourced from Eurostat housing price indices, ECB credit and monetary statistics, national land registries, and Avena Terminal proprietary transaction feeds. Prices reflect median asking prices for existing apartments in the city proper (not metro area). The bubble score is recalculated daily and the methodology is fully documented on our methodology page. For academic citations, see how to cite.

Share

Spread the signal.

Think someone should see their city's score?

Share on XShare on LinkedIn
Sources: Eurostat · ECB · National Land Registries