House prices in Portugal in Q1 show sixth largest YoY increase in EU
In Portugal, prices were up 1.3% on the quarter and 8.7% on the year - the sixth highest year-on-year increase in the EU.
Prices for residential property in Portugal in the first quarter of the year showed the sixth largest year-on-year increase in the European Union, at 8.7%, according to figures from Eurostat released on Wednesday that show prices rose 0.4% in the euro zone and 0.8% in the EU as a whole.
According to data from Eurostat, the EU’s statistical service, year-on-year increases in house prices slowed in both the euro zone and EU from the rate in the fourth quarter of last year, when the rates were 3.0% and 3.6% respectively.
As compared to the previous quarter, prices were down 0.9% in the euro zone and 0.7% in the EU as a whole.
On a year-on-year basis, six EU member states recorded declines in house prices: Sweden (-6.9%), Germany (-6.8%), Denmark (-6.2%), Finland (-5.1%), Luxembourg (-1.5%) and the Netherlands (-0.1%).
In the remaining 21 EU countries, prices rose, most notably in Croatia (14.0%), Lithuania (13.1%) and Bulgaria (9.5%).
In the quarterly comparison, prices fell in 11 member states, notably in Luxembourg (-4.1%), Germany (-3.1%) and Finland (-1.8%).
The largest quarter-on-quarter rises, meanwhile, were in Denmark (2.5%), Hungary (2.2%), Croatia and Cyprus (2.0% each).
In Portugal, prices were up 1.3% on the quarter and 8.7% on the year – the sixth highest year-on-year increase in the EU.
