October 7, 2021
According to Eurostat, the statistical office of the European Union, house prices for the second quarter of 2021 experienced its highest annual increase since the fourth quarter of 2006 in the euro area, and since the third quarter of 2007 in the EU. It was noted, “In the second quarter of 2021, house prices, as measured by the House Price Index, rose by 6.8% in the euro area and by 7.3% in the EU compared with the same quarter of the previous year.” Additionally, house prices rose by 5.7% in the euro area and 6.1% in the EU during the first quarter of 2021. However, in comparison to the first quarter of 2021, house prices rose by 2.6% in the euro area and 2.7% in the EU in the second quarter of 2021.
House price developments in the EU Member States
Eurostat further stated, among the Member States for which data are available, the highest annual increases in house prices in the second quarter of 2021 were recorded in Estonia (+16.1%), Denmark (+15.6%) and Czechia (+14.5%), while prices fell only in Cyprus (-4.9%). In comparison with the previous quarter, the highest increases were recorded Latvia (+6.7%), Slovenia (+4.5%) and Austria (+4.2%).
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