Spain Ranks Third in EU in 2013 Rock Bottom Housing Prices

11/04/2014 – Expansion

According to statistics agency Eurostat, Spain ranked the third in the European Union as the country experiencing the most abrupt housing prices slump in the last quarter of 2013. In annual terms, the decline showed 6.3%.

Spanish score was only beaten by Croatia (-14.4%) and Cyprus (-9.4%).

What is more, Spain was the second country belonging to the EU where prices fell most in quarterly terms. Between the third and the fourth quarter of 2013, the decrease post 1.3%. The first ranked Hungary (-1.8%) and then Denmark and Italy (both -1.2%).

In entire European Union, prices dropped by 0.1% in year-on-year and by 0.3% in quarterly terms.

Among all the 18 countries from the euro zone, the rate fell by 1.4% in annual terms and by 0.7% between third and fourth quarter.

On the other side, the countries where the prices rose most during a year were Estonia (+15.6%), Latvia (+7.9%) and Sweden (+7%).

The biggest increase between the third and the fourth quarter of 2013 was seen in Latvia (+2.7 %), in Estonia and Lithuania (in both +2.6 %) and in Ireland (+2.5 %).



Original article: Expansión

Translation: AURA REE