Property prices across Europe have soared in the last 12 months, according to housing price figures released by Eurostat.
House prices, as measured by the Eurostat House Price Index, rose by 4 per cent in both the euro area and the EU in the first quarter of 2019 compared with the same quarter of the previous year. However, since the fourth quarter of 2018, prices have risen by a more modest 0.3 per cent.
Among the EU member states for which data is available, the highest annual increases in house prices in the first quarter of 2019 were recorded in Hungary (11.3 per cent), Czech Republic (9.4 per cent) and Portugal (9.2 per cent). Italy was the only country to see a property price decrease during this period, with Eurostat reporting falls of -0.8 per cent.
Of the 29 countries for which Eurostat gathered data, 20 saw price increases which outstripped the European average.
On a quarter by quarter basis, the highest increases were recorded in Hungary (3.7 per cent), Portugal (3.6 per cent) and Croatia (3.5 per cent). Property price decreases were observed in Malta (-4.2 per cent), the United Kingdom (-1.3 per cent), Ireland (-1 per cent), Finland (-0.8 per cent), Italy (-0.5 per cent) and Germany (-0.3 per cent).
Article published 12th July 2019