London and Paris most expensive cities in EU. - According to a real estate survey carried out by the Deloitte, London and Paris had, for a second year in a row, the highest real estate prices and remained the most expensive cities in the European Union. Deloitte also underlined the widening variations in the different countries' real estate markets. The study was conducted in June 2013 and focuses on 2012 in 12 EU countries: Austria, Belgium, Czech Republic, Denmark, France, Germany, Hungary, Italy, Netherlands, Poland, United Kingdom and Russia. Its figures are based on real estate stock available; property size measured in square metres, average accommodation surface area, respective prices and per capita mortgage debt rates. The results indicate sharp growth in residential real estate prices, particularly in the United Kingdom (13.5%), Russia (11.1%) and Germany (9.1%). France has experienced moderate growth of the order of 2.5%, like Austria (4.8%) and Belgium (3.1%). On the other hand, falls have been experienced in the Netherlands (-6.9%), Spain (-6.2%) and Italy (-3.6%). Unsurprisingly, the United Kingdom holds the record of the highest prices. London remains the most expensive city in Europe, with an average cost of €10,000 per square metre (an average of €6,000 for Greater London), followed by France or rather Paris, which has an average square metre price of €8,300 (compared to an average of €5,500 in the Ile de France). Munich is the most expensive city in Germany, with an average per square metre price of €5,000 in 2012. Obviously, the least expensive countries are still those in Central and Eastern Europe, with average prices of around €1,200 per square metre in Budapest, for example, and €1,656 in Warsaw. The survey also confirms the significant contrast between Eastern and Western Europe, which was already noted in 2011. Finally, Munich and Moscow are the two cities were prices are 3 to 4 times higher than the national average. In London, Paris, Berlin, Frankfurt, Hamburg and Prague, the levels are more than double. (IL/transl.fl)