According to the latest data of the Statistical Service of EU Eurostat, in the first quarter of 2015, property prices in the Eurozone rose by 0.9% in the EU countries – by 2.5%. This tells the portal Property Wire.
In comparison with the same period last year, growth in the cost of housing in the Euro area was 0.3% and in the EU at 0.6%.
The situation on the real estate markets of different countries was very heterogeneous. The largest price increase in the first quarter of 2015 was marked in Ireland (+16,8%), Sweden (+11.6 percent), Hungary (+9.7%) and the UK (+8.5 percent). And, on the contrary, the strongest decline in the value of housing in the first quarter of 2015 compared to the same period of 2014 were recorded in Latvia (-5,8%), Italy (3.3 percent), France (-1,6%) and Slovenia (of 1.4%).
The highest dynamics of growth of housing prices demonstrated Romania, where the cost of real estate grew by 4.1% in the first quarter of 2015 compared to the fourth quarter of 2014. It is followed by Sweden (+3,9%), Hungary (+3.7 per cent) and Denmark (+3.5 percent). On the contrary, during this period prices fell the most in Belgium, Cyprus and Croatia in all three countries the cost of housing fell by 2.8%.
The Spanish market, according to a report by Eurostat, shows stability. In the first quarter compared with the same period average prices in the country increased by 1.6%. During the year they have steadily increased every quarter but slightly decreased by 0.5% in the first quarter of 2015 compared to the fourth quarter of 2014. Approximately the same situation is typical for the real estate market of Portugal, according to Eurostat data.
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