How have housing markets changed?
Russia’s invasion of Ukraine has had noteworthy effects on many of Europe’s rental markets, as nationals and expatriates fled both Ukraine and Russia. Companies were quick off the mark to relocate staff where possible.
Which rental markets are effected?
Poland saw the first and largest numbers to arrive at all borders. Subsequently rents spiked across the country with supply dwindling almost overnight.
Armenia saw rents surge as demand was fierce for anything of good quality.
Czechia, Georgia, Hungary, Kazakhstan, and Slovakia all saw rents significantly increase, which added pressure to some already tight markets recovering from COVID-19 slumps.
As the war rages on rental markets are likely to further increase into 2023. Our onsite sources advise all clients and assignees to be patient and flexible. In general, availability is very low, bordering on non-existent in some cases.
Our surveyors are reporting back from around the world with the latest data points for housing, cost of living and tax. AIRINC researches more than 150 locations each quarter. Reach out to us with any questions and take a look at our most recent data points report.