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This year, Paris and Munich are the most expensive European cities when it comes to real estate prices, according to a study published by the Deloitte.

According to their data, buyers of a new apartment in Munich pay an average of 10,500 euros per square meter, and in Paris an average price is 13,462 euros, while prices in London, Oslo and Frankfurt are around 8,400 euros.

On the other hand, in the Bulgarian cities of Varna and Burgas on the Black Sea, which were also included in the analysis of real estate prices in 68 large cities from 23 European countries, new apartments can be found for an average of around 900 euros per square meter.

The analysis also shows that prices of construction have increased throughout Europe, and interrupted supply chains and shortages of construction materials have increased the risk in planning and executing construction projects.

An additional problem is inflation and a lack of workers, which further raises prices, but as the report concludes, rising interest rates could slow down demand and price growth.

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