Houses were 5% more expensive in the European Union during the second quarter, but Portugal exceeded this figure by showing an increase of 7.8%.
House prices rose by 5.2% in the European Union (EU) and 5% in the Eurozone in the second quarter, but several Member States have exceeded this tendency. This was the case in Portugal which, according to Eurostat, even in a period marked by the pandemic, saw houses become 7.8% more expensive, representing the 5th highest evolution observed in European territory.
Between April and June, house prices increased mainly in Luxembourg (13.3%), Poland (10.9%), Slovakia (9.7%) and Croatia (8.3%). Behind Portugal appears an increase of 7.8%. On the contrary, there were two countries where prices actually fell: Hungary (-5.6%) and Cyprus (-2.9%).
If the analysis is compared with the first quarter of the year, when prices rose by 1.5% in the EU and 1.7% in the Eurozone, Portugal was below the European average with an increase of only 0.8%.
Compared to the first three months of the year, the largest increases were seen in Luxembourg (4.4%), Italy (3.1%) and Austria (2.5%), while Hungary (-7.4%), Estonia (-5.8%) and Latvia (-2.3%), Bulgaria (-1.1%) and Ireland (-0.1%) recorded declines in these indicators.