Poland saw the biggest increase in house prices in the European Union in the first quarter of 2024, new data from Eurostat has found, with house prices in the country rising by 18.0% compared to the same period the previous year.
Other countries to show a notable increase in house prices in the first quarter were Bulgaria (+16.0%), Lithuania (+9.9%), Croatia (+9.1%) and Estonia (+7.8%).
Of the countries for which house price data is available, nineteen EU members saw house prices increase year-on-year, while seven showed a decrease.
The biggest decreases were seen in Luxembourg (-10.9%), Germany (-5.7%) and France (-4.8%), the data showed.
Compared with the fourth quarter of 2023, i.e. the previous quarter, prices decreased in eight Member States and increased in eighteen Member States. The largest falls were registered in Denmark (-2.5%), France (-2.1%), and Slovakia (-1.7%), while the highest increases were recorded in Bulgaria (+7.1%), Hungary (+5.1%), and Poland (+4.3%).
Across the European Union
Across the EU, house prices rose by 1.3% in the first quarter, compared to Q1 2023, while within the euro area specifically, house prices saw a 0.4% decline.
Compared with the fourth quarter of 2023, house prices in Q1 2024 rose by 0.4% in the EU and fell by 0.1% in the euro area, Eurostat said.
House price increases by EU member, Q1 2024 (year-on-year)
| Rank | Country | House Price Increase (%) |
|---|---|---|
| 1 | Poland | 18.0 |
| 2 | Bulgaria | 16.0 |
| 3 | Lithuania | 9.9 |
| 4 | Croatia | 9.1 |
| 5 | Estonia | 7.8 |
| 6 | Hungary | 7.1 |
| 7 | Portugal | 7.0 |
| 8 | Malta | 6.7 |
| 9 | Spain | 6.4 |
| 10 | Ireland | 6.3 |
| 11 | Slovenia | 6.3 |
| 12 | Romania | 5.5 |
| 13 | Latvia | 3.7 |
| 14 | Netherlands | 3.6 |
| 15 | Belgium | 3.1 |
| 16 | Italy | 1.7 |
| 17 | Czechia | 1.2 |
| 18 | Denmark | 1.2 |
| 19 | Cyprus | 1.1 |
| 20 | Sweden | -1.6 |
| 21 | Austria | -2.2 |
| 22 | Slovakia | -3.0 |
| 23 | Finland | -4.3 |
| 24 | France | -4.8 |
| 25 | Germany | -5.7 |
| 26 | Luxembourg | -10.9 |
