|Top 5 cities - Europe
- Moscow, Russia (4th)
- Geneva, Switzerland (5th)
- Zurich, Switzerland (7th)
- Oslo, Norway (15th)
- Bern, Switzerland (16th)
In Europe, price increases have been moderate, affected primarily by higher gasoline prices and VAT increases in a number of countries.
Due to the strong demand and declining vacancies, rents have been picking up slightly over the past few months in Paris. The market is moderately healthy, and a growth trend is expected to continue in the coming months.
Residential rental rates have continued decreasing over the past six months due to the financial downturn in Greece. Currently there is a quite good choice of accommodation on the market as the supply has increased. The basket of goods and services has increased, partly because of the raising of the VAT, which occurred in both March 2010 and June 2010.
Residential rentals are increasing with higher demand. The beginning of the year was relatively quiet, which is typical, but then the market started to rise due to the rising number of expatriates coming to Oslo.
The lease market in Sweden is extremely limited. Some residential rental prices in Stockholm, mostly houses, have been increasing over the past months as the real estate rental market is facing strong demand.
London, United Kingdom
We observed an increase in the cost of the Mercer basket of goods and services in London, and there was a VAT increase at the beginning of the year. Residential rental prices have continued increasing over the past months due to the economic recovery in London. This can largely be attributed to a strong demand for rentals.