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House prices and rents in the EU show significant trends that vary across the country, according to new official data.
ADVERTISEMENTHouse prices and rents in Europe increased by 0.8% in the third quarter of 2023 compared to the second quarter of the same year, according to new data released by Eurostat.
For rents, this reflects a 3.0% increase compared to the third quarter of 2022. However, for house prices, there has been a decrease of -1.0% during the same period.
House prices more than doubled in some EU countries
From 2010 to the third quarter of 2023, there was a 48% increase in house prices and a 22% rise in rents across Europe.
Over this period, there were significant changes in European housing markets.
House prices more than tripled in Estonia (210%) and more than doubled in Hungary (185%), Lithuania (158%), Latvia (141%), Austria (123%), Czechia (122%), and Luxembourg (107%), where the average asking price for residential properties for sale was €12,089 per square metre in December.
Greece (-14%), Italy (-8%), and Cyprus (-2%), however, experienced decreases.
On the rental front, 26 EU countries saw increases, with Estonia (218%), Lithuania (170%), and Ireland (100%) leading the way. The exception was Greece, where rent prices decreased by 20%.
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