Eurostat: EU residential housing prices increased by 10% in Q2 2022

In Q2 2022, real estate prices rose by 9.3% in the euro area and 9.9% in the European Union year-on-year.

The biggest price increase was recorded in Estonia which is more 27%. It is followed by the Czech Republic and Hungary which have price increases of more than 22%. The lowest rates were registered in Cyprus, Finland, and Denmark where the price increase does not exceed 3%.

Compared to Q1 2022, the housing prices in the EU and euro area increased significantly. Estonia and Lithuania lead the list (growth up 8.0% and 5.9%, respectively). Latvia and Slovakia recorded the same price increase (5.5%). The smallest price rise was observed in Sweden (0.5%), Finland (1.3%) and Belgium (1.3%).

In addition, Eurostat has published data on house purchase prices for the period from 2010 to Q2 2022. During this period, real estate prices in the EU have risen by more than 48%.

Since 2010, prices have nearly tripled in Estonia and Hungary (196.3% and 167.9%, respectively). However, property prices have fallen in several countries: Greece (22.5%), Italy (8.5%) and Cyprus (5.8%). The property costs in Greece still haven’t returned to the peak of 2008, but the prices are growing since 2017.

In terms of rental properties, prices rose by 1.7% in Q2 2022 year-on-year. Between 2010 and the Q2 2022, rental prices in the EU and euro area increased by 17.6%.

Source: Eurostat