Portugal was one of the countries where house prices rose the most in the fourth quarter of 2022 in the European Union (EU). With a year-on-year growth of 11.3%, i.e. compared to the last three months of 2021, Portugal is second only to Croatia, Estonia, Hungary and Lithuania in the table of the largest increase in housing.
Data released on Tuesday by Eurostat show that house prices in Portugal rose by 1.1% from October to December compared to the previous quarter. In Croatia, which leads the ranking, the increase in house prices was 17.3% compared to the same period last year.
Despite the increase, the rate of growth of national prices slowed down in the fourth quarter compared to previous quarters, with growth of 3.8% in the first quarter, 3.1% in the second and 2.9% in the third, still according to information released this Tuesday the European Bureau of Statistics.
Between October and December 2022, the largest price decline since the fourth quarter of 2008 was recorded in the euro area, falling by 1.7%, the same is happening in the EU from the first quarter of 2009, a fall of almost 2%. .
During the period under review, the house price index decreased in 15 of the 27 EU Member States compared to the previous quarter, while in the rest it increased. The main growth was observed in Croatia (4.7%), Romania (2.5%) and Lithuania (1.9%), and the largest pullback was observed in Denmark with a fall of 6.5%, in Germany (5%) and Cyprus, where prices fell by 4%.
Author: Raquel Oliveira
Source: CM Jornal
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