News and Events

Housing on the rise in the Eurozone: house prices rise highest in 14 years

House prices soared 5.4% in a year (in the fourth quarter of 2020 compared to the same period) in the Eurozone, the largest increase since 2006.

09/04/2021

It is not only in Portugal that the price of houses has been rising in recent times, including in times of pandemic Covid-19. In the Eurozone, year-on-year growth of 5.4%was seen in the fourth quarter of 2020, the largest increase in the last 14 years, i.e. since 2006. In the European Union (EU) the average increase compared to the same quarter of 2019 was higher, 5.7%. In Portugal, the homologous growth was 8.6%. At issue are data released on Thursday (8 April 2021) by Eurostat.

According to the European statistics office, the annual rise in house prices accelerated between October and December, compared to in the third quarter of 2020: 4.9% in the Eurozone and 5.3% in the EU.

The largest year-on-year increases in house prices in the fourth quarter of 2020 occurred in Luxembourg (16.7%), Denmark (9.8%) lithuania (9.4%). Portugal, with the aforementioned 8.6%, appears in the7th position of the ranking.

In the chain comparison, i.e. in the fourth quarter of 2020 compared to the previous quarter, house prices rose by 1.4% in the Eurozone and 1.3% in the EU, after increasing by 1.3% and 1.4% respectively.

The largest quarterly increases took place in Cyprus and Luxembourg (both 4.7%), Lithuania (3.9%) Estonia (3.8%). Portugal appears in 10th place on the list, with an increase of 2.1%.

Source: Idealista News

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