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Euro area rent developments: insights from the CES

Author

Listed:
  • Bates, Colm
  • Höynck, Christian
  • Kouvavas, Omiros
  • Rusinova, Desislava
  • Zimmermann, Larissa

Abstract

The ECB Consumer Expectations Survey (CES) provides regular and timely information on household rent expenditure. This information has been used to analyse developments and to construct an indicator for rent growth that is largely free of composition effects from respondents entering or leaving the panel of survey respondents. Combined with the rich micro data from the CES, this new indicator allows for a detailed analysis of rent growth and its drivers. According to this novel CES-based indicator, rent growth in the euro area peaked in the third quarter of 2023. It then declined but has remained above 3% up to the third quarter of 2024. Given the ease with which rent adjustments can be made, rent growth per square metre has been more than proportionally driven by new rental contracts. JEL Classification: C43, E31, E51

Suggested Citation

  • Bates, Colm & Höynck, Christian & Kouvavas, Omiros & Rusinova, Desislava & Zimmermann, Larissa, 2025. "Euro area rent developments: insights from the CES," Economic Bulletin Boxes, European Central Bank, vol. 2.
    • Handle: RePEc:ecb:ecbbox:2025:0002:5
    Note: 1087208
    as

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    More about this item

    Keywords

    rent growth; rent indexation;

    JEL classification:

    • C43 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Index Numbers and Aggregation
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • E51 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Money Supply; Credit; Money Multipliers

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