The FINANCIAL -- In the third quarter of 2020, house prices, as measured by the House Price Index, rose by 4.9% in the euro area and by 5.2% in the EU compared with the same quarter of the previous year. In the second quarter of 2020 house prices rose by the same annual rates, 4.9% and 5.2% respectively. These figures come from Eurostat, the statistical office of the European Union.
Compared with the second quarter of 2020, house prices rose by 1.3% in the euro area and 1.4% in the EU in the third quarter of 2020.
House price developments in the EU Member States
Among the Member States for which data are available, the highest annual increases in house prices in the third quarter of 2020 were recorded in Luxembourg (+13.6%), Poland (+10.9%) and Austria (+8.9%), while prices fell in Cyprus (-1.4%) and Ireland (-0.8%).
Compared with the previous quarter, the highest increases were recorded in Hungary (+5.2%, see note under the table), Denmark (+4.2%) and Latvia (+3.7%), while decreases were observed in Cyprus (-4.8%), Romania (-2.6%), Italy (-2.5%) and Croatia (-0.6%).