House prices in the Euro Area and the European Union increased 4.2 and 4.5%, respectively, in the last quarter of 2017. Portugal had the second largest annual increase (10.5%) of the Euro Area.
House prices in the Euro Area increased 4.2% in the last quarter of 2017, according to data published this Wednesday by Eurostat. As for the European Union, the increase was greater: it ascended to 4.5%. Portugal was the second Member State of the Euro Area with the largest annual increase, with prices rising by 10.5%, only behind Ireland, which had 11.8% increases.
These amounts were determined using the House Price Index, which revealed a 4.2% increase in the Euro Area and 4.5% in the European Union in the last quarter of last year, in comparison to the homologous period. In comparison to the previous quarter, prices increased 0.9% in the Euro Area and 0.7% in the European Union.
Annual rate of change for the Euro Area and the EU house prices
As for the annual evolution of each Member State, Ireland registered the largest increase in the Euro Area in 2017, with prices growing 11.8%. Behind Ireland stands Portugal, the second largest increase, with housing values growing 10.5%. In Italy, house prices had the largest fall of the year (0.3%).
In comparison to the previous quarter, the largest increases were registered in Slovenia (3.7%), in Croatia (3.2%) and Cyprus (2.7%). On the other hand, the largest decreases in prices took place in Sweden (2.8%), in Denmark (1.7%), Belgium (0.4%) and Finland (0.3%). In Portugal, the indicator grew 1.2% from the third to the fourth quarter of 2017.