In the third quarter of last year, house prices in Latvia increased by 12.7% year-on-year, which is a faster increase than in the European Union (EU) and the euro area on average, according to data on 26 bloc member states published on Friday by Eurostat.
Faster annual growth in house prices was recorded in the Czech Republic (+ 22%), Lithuania (+ 18.9%), Estonia (+ 17.3%), the Netherlands (+ 16.8%), Luxembourg (+ 13.4%), as well as in Austria and Slovenia (+ 12.9% in both countries).
Overall, house prices rose in the third quarter on an annual basis in all EU Member States for which data are available.
In the EU Member States, house prices rose by 9.2% on an annual basis in July-September, and by 8.8% in the euro area. On a quarterly basis, house prices rose by 3.1% on average in the third quarter in the EU and by 3.3% in the euro area.
In quarterly terms, house prices also rose in the third quarter in all countries, with the fastest growth in the Czech Republic (+ 7.3%), the Netherlands (+ 5.9%), Lithuania (+ 5.4%) and Ireland (+ 5.1%). . In Latvia, house prices increased by 4%, but in Estonia – by 3.4%.
Data for Greece are not available.