Budapest, Hungary – Housing and property prices rose at their fastest pace in Hungary and the Czech Republic at the beginning of this year.
According to Eurostat, the EU’s statistical office, the highest annual increases in housing prices in the first quarter of 2019 were recorded in Hungary (+11.3% compared to one year ago) and the Czech Republic (+9.4%).
This is two to three times faster than the EU average of +4% year-on-year, as measured by the House Price Index that takes into account price variations of all types of residential properties purchased by households throughout the year.
Housing property prices also significantly increased in Portugal (+9.2%), Slovenia (+8.4%), the Netherlands (+8.2%), Croatia (+7.4%) and Bulgaria (+7.3%).
With property prices growing by 8.1% in the first quarter of 2019 compared to the same period last year, Poland reports the sixth fastest-growing housing prices in the EU.
Property prices increased by ‘only’ 5.7% in Slovakia, still well above the European average.
Hungary also reported the highest increase compared to the previous quarter (+3.7%), ahead of Portugal and Croatia – compared to only +1.9% in Poland and Slovakia, and +1.7% in Czechia.
Italy was the only EU country where property prices decreased over the past year (-0.8%).
Last year, Central European countries already had among the fastest-growing property prices in the EU.