July 10, 2018

House prices up by 4.5% in the euro area and up by 4.7% in the EU

According to the latest report published by Eurostat, the statistical office of the European Union, “House prices, as measured by the House Price Index, rose by 4.5% in the euro area and by 4.7% in the EU in the first quarter of 2018 compared with the same quarter of the previous year.”

Additionally, the report mentioned that in comparison to the fourth quarter of 2017, in the first quarter of 2018 house prices in the euro area and in EU rose by 0.6% and 0.7% respectively.

House price developments in the EU Member States

Notably, in the first quarter of 2018, the highest annual increases in house prices were recorded in Latvia (+13.7%), Slovenia (+13.4%), Ireland (+12.3%) and Portugal (+12.2%), while prices fell in Sweden and Italy (both -0.4%) as well as in Finland (-0.1%).

However, in the previous quarter, the highest increases were observed in Latvia (+7.5%), Hungary and Slovenia (both +4.4%) as well as in Portugal (+3.7%). On the other hand, Malta (-4.7%), Cyprus (-1.8%) and Sweden (-0.8%) recorded the largest decreases.

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