June 9, 2021
According to Eurostat, the statistical office of the European Union, house prices for the first quarter of 2021 experienced its highest annual increased since 2006 in the euro area and 2007 in the EU. It was noted, “In the first quarter of 2021, house prices, as measured by the House Price Index, rose by 5.8% in the euro area and by 6.1% in the EU compared with the same quarter of the previous year.” Additionally, house prices rose by 5.6% in the euro area and 5.8% in the EU during the fourth quarter of 2020. However, in Comparison to the fourth quarter of 2020, house prices rose by 1.3% in the euro area and 1.7% in the EU in the first 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 first quarter of 2021 were recorded in Luxembourg (+17.0%), Denmark (+15.3%), Lithuania (+12.0%), Czechia (+11.9%) and the Netherlands (+11.3%), while prices decreased only in Cyprus (-5.8%).
In comparison with the previous quarter, “the highest increases were recorded in Estonia (+6.6%), Denmark (+5.8%) and Lithuania (+5.0%), while decreases were observed only in Cyprus (-5.8%), Malta (-1.6%) and Slovakia (-1.2%).” Eurostat reported.
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