House prices in Euro area up 5 per cent
House prices, as measured by the House Price Index, rose by 5.0% in the euro area and by 5.2% in the EU compared with the same quarter of the previous year.
In the first quarter 2020 house prices rose by 5.1% and 5.6% respectively. These figures come from Eurostat, the statistical office of the European Union.
Compared with the first quarter of 2020, house prices rose by 1.7% in the euro area and 1.5% in the EU in the second quarter of 2020.
Among the Member States for which data are available, the highest annual increases in the second quarter of 2020 were recorded in Luxembourg (+13.3%), Poland (+10.9%) and Slovakia (+9.7%), while prices fell in Hungary (-5.6%) and Cyprus (-2.9%).
Compared with the previous quarter, the highest increases were recorded in Luxembourg(+4.4%), Italy (+3.1%) and Austria (+2.5%), while decreases were observed in Hungary (-7.4%), Estonia (-5.8%), Latvia (-2.3%), Bulgaria (-1.1%) and Ireland(-0.1%).
Source: Cyprus Property News