Housing prices in the Eurozone rose by 8.8% in Q3

At a record pace since 2005, in the period from July to September of last year, prices for residential real estate in the euro zone grew. Their annual growth was recorded by the European Statistical Office at 8.8%. The growth of the indicator accelerated compared to the rise in housing prices by 6.8% in the previous quarter. In quarterly terms, prices rose by 3.3%, also accelerating the pace against their increase in April-June by 2.6%. Eurostat has published prices dynamics statistics for residential real estate in the III quarter in the EU. Compared to the same period in 2019, housing prices rose by 9.2%, marking the highest rise since April-June 2007. During these three months, the residential real estate significance in the EU increased by 3.1%, which also exceeded its growth rate in the previous three months by 2.7%. Relative to the Q3 of 2019, the maximum increase in housing prices was German in the Czech Republic – at the level of 22% and Lithuania – at the level of 18.9%. At the equal period, housing prices rose least of all in Cyprus – by 2.2%, as well as in Italy and Spain, where prices rose by 4.2% over the year.

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Arseny Kudrin

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