Portugal has the 5th biggest increase in house prices in the European Union

Between July and September last year, there was a decrease in housing prices, measured by the Housing Price Index, registering a fall of 2.1% in the euro zone and 1.0% in the European Union in relation to the same period of the previous year.
These are the data released by Eurostat this Wednesday.

Compared to the second quarter of 2023, there was an increase in housing prices, with an increase of 0.3% in the euro zone and 0.8% in the European Union during the third quarter of 2023. Portugal remains in the group of 16 countries where house prices for sale increased between the summer of 2022 and the summer of 2023, recording a growth of 7.6%.

This increase places Portugal in fifth place among the European Union countries with the biggest increase, only surpassed by Croatia (10.9%), Poland (9.3%), Bulgaria (9.2%) and Lithuania (8.7%). %).
In the Euro Zone, our country occupies fourth position among the countries with the highest increases. Among the Member States for which data is available, ten recorded an annual decrease in house prices in the third quarter of 2023, while 16 recorded an annual increase.

According to Eurostat data, the biggest declines were observed in Luxembourg (-13.6%), Germany (-10.2%) and Finland (-7.0%), while the biggest increases were seen in Croatia (+10.9%), Poland (+9.3%) and Bulgaria (+9.2%).

Compared to the previous quarter, prices decreased in seven Member States, remained stable in one (Italy) and increased in eighteen Member States. The biggest decreases were recorded in Luxembourg (-6.3%), Finland (-2.7%) and Germany (-1.4%), while the biggest increases were recorded in Poland (+4.5%), Romania (+3.4%) and Denmark (+3.1%). Also in Portugal, houses became 1.8% more expensive between these two moments.

Source: Vida Imobiliária