Three charts showing the best countries in Europe in which to buy a second home

 
Billy Ehrenberg
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The PIIGS have all suffered and have seen varying fortunes since the crisis began (Source: Getty)

The Eurozone crisis was an economic nightmare for many, not least the property sector, with prices falling across the continent.

And while there are signs of growth across the bloc, prices in many countries are still low, according to Eurostat, the statistical body of the EU.

The Eurozone and European Union (EU) has returned to growth after a double-dip house-price slump.

The EU’s big powers, the UK, Germany, France, have had varying fortunes.

While the UK’s economy is strengthening and taking house prices up with it, Germany has seen more muted growth while France, which is struggling to meet EU deficit targets, is yet to see its house prices return to growth.

The Piigs (Portugal, Ireland, Italy, Greece, and Spain) have all suffered and have seen varying fortunes since the crisis began. Ireland’s prices have been soaring after dropping by as much as -20.5 per cent in the third quarter of 2009. Price growth is now above 16 per cent.

Spain and Portugal both have growing prices too, but they are both climbing from a low base with property prices going through the floor, particularly in the former.

Greece hasn’t given useable data to Eurostat since 2011.

There are clearly signs of a return, but as the charts show, the challenges for Europe's property sector are not over yet.

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