In the third quarter of 2021, house prices, as measured by the House Price Index, rose by 8.8% in the euro area
and by 9.2% in the EU compared with the same quarter of the previous year. This is the highest annual increase
for the euro area since 2005 when house prices started to be collected, and since the second quarter of 2007 for
the EU. In the second quarter of 2021, house prices rose by 6.8% and 7.4% respectively. These figures come from
Eurostat, the statistical office of the European Union.
Compared with the second quarter of 2021, house prices rose by 3.3% in the euro area and by 3.1% in the EU in
the third quarter of 2021.
House price developments in the EU Member States
In contrast to previous quarters, all Member States for which data are available showed an annual increase in
house prices in the third quarter of 2021 and, for half of them, this increase exceeded 10%. The lowest increases
were registered in Cyprus (+2.2%) and Italy and Spain (+4.2% each). The highest increases were recorded in
Czechia (+22.0%), Lithuania (+18.9%), Estonia (+17.3%) and The Netherlands (+16.8%).
Compared with the previous quarter, prices increased in all Member States. The lowest increases were registered
in Romania (+0.1%), Finland (+0.2%) and Denmark (+0.3%). The highest increases were recorded in Czechia
(+7.3%), The Netherlands (+5.9%), Lithuania (+5.4%) and Ireland (+5.1%).
