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Rent inflation in the euro area

Author

Listed:
  • Arioli, Rodolfo
  • Bobeica, Elena
  • Roma, Moreno
  • Soudan, Michel

Abstract

This box describes recent developments in housing rents in the euro area, also comparing them with developments in the United States. In the post-COVID period, increases in euro area rents have been moderate, despite a notable pick-up since mid-2022. This stands in contrast to the United States, where rent inflation has been a key driver of the post-pandemic inflation surge. Such differences are linked not only to measurement issues, but also to structural features of the housing market and regulatory specificities. Rent regulation is more prevalent in the euro area, where such institutional features have so far acted as a brake on rent rises. JEL Classification: E31, R21, R31

Suggested Citation

  • Arioli, Rodolfo & Bobeica, Elena & Roma, Moreno & Soudan, Michel, 2023. "Rent inflation in the euro area," Economic Bulletin Boxes, European Central Bank, vol. 7.
    • Handle: RePEc:ecb:ecbbox:2023:0007:7
    Note: 2382002
    as

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    File URL: https://www.ecb.europa.eu//pub/economic-bulletin/focus/2023/html/ecb.ebbox202307_07~d55c0f2d23.en.html
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    More about this item

    Keywords

    core inflation; euro area; Rents; United States;
    All these keywords.

    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • R21 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Housing Demand
    • R31 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Housing Supply and Markets

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