Eurostat: Housing Prices in Portugal Rise at Twice the European Average

18 January 2019

Slovenia saw the highest price increase in Europe during the third quarter of 2018. Meanwhile, housing prices in Sweden and Italy declined.

House prices in the eurozone and the European Union (EU) increased by 4.3% in the third quarter of 2018 compared to the same period last year, with the increase in Portugal almost double the average (8.5%). Eurostat published the data on Friday.

According to the EU’s statistics office, the highest increases (vis-a-vis the third quarter of 2017) were in Slovenia (+15.1%), the Netherlands (+10.2%) and Ireland (+9.1%), with two countries suffering year-on-year decreases: Sweden (-2.1%) and Italy (-0.8%).

Compared to the second quarter of 2018, housing prices rose by 1.6% in the euro area and by 1.5% in the EU as a whole. The highest increases were observed in the Netherlands (+3.3%), Malta (+3.1%) and Croatia (+2.8%), while prices fell in Italy (-0.8%), Romania (-0.7%), Finland (-0.4%), Slovakia (-0.3%) and Hungary (-0.2%).

In Portugal, the price of housing increased by 8.5% compared to the third quarter of 2017 and 1% compared to the period between April and June. In the year-on-year comparison, prices in Portugal rose by almost double the European average.

Original Story: Público / Lusa

Photo: Enric Vives-Rubi

Translation: Richard Turner