In Portugal: house prices show sixth annual increase in EU

The data are for the first quarter of 2023. According to data released today by Eurostat, residential real estate prices in Portugal posted the sixth largest annual increase in the European Union at 8.7% in the first quarter of the year. In comparison, prices rose just 0.4% in the eurozone and 0.8% in the EU as a whole. According to the EU statistical office, annual house price growth slowed in the eurozone and the EU compared to the fourth quarter of last year, when the figures were 3.0% and 3.6% respectively.

On an annualized basis, house prices fell in six EU countries: Sweden (-6.9%), Germany (-6.8%), Denmark (-6.2%), Finland (-5.1%), Luxembourg (-1.5%) and the Netherlands (-0.1%). Prices increased in the remaining 21 EU countries, especially in Croatia (14.0%), Lithuania (13.1%) and Bulgaria (9.5%).

In the quarterly comparison, prices fell in 11 Member States, especially in Luxembourg (-4.1%), Germany (-3.1%) and Finland (-1.8%). The largest quarterly increases, meanwhile, were registered in Denmark (2.5%), Hungary (2.2%), Croatia and Cyprus (2.0% each). In Portugal, prices rose 1.3% for the quarter and 8.7% for the year - the sixth largest annual increase in the EU.

Source:

LUSA