Once again, in Q4 2021, the Czech Republic registered the strongest house price growth within the EU, both in a year-on-year (25.8%) and a quarter-on-quarter (5.7%) comparison, well above the EU averages of 10% and 2.1%, respectively, according to Eurostat’s house price index.
In Q4 2021, all of the V4 countries registered an annual housing price growth above the EU average. On a quarterly basis, however, Hungary recorded a growth rate that was smaller than the EU average.
Long term increase continues
Rents and house prices in the EU have continued their steady increase in the fourth quarter of 2021, going up by 1.3% and 10.0% respectively, compared with the fourth quarter of 2020. Over the period 2010 until the fourth quarter of 2021, rents increased by 16% and house prices by 42%.
When comparing the fourth quarter of 2021 with 2010, house prices increased more than rents in 19 EU Member States. House prices increased in 24 EU Member States and decreased in three, with the highest rises in Estonia (+156%), Hungary (+128%) and Luxembourg (+124%). Decreases were observed in Greece (-23%, see notes), Italy (-12%) and Cyprus (-9%).
When comparing the fourth quarter of 2021 with 2010 for rents, prices increased in 25 EU Member States and decreased in two, with the highest rises in Estonia (+171%), Lithuania (+113%) and Ireland (+74%). Decreases were recorded in Greece (-25%) and Cyprus (-1%).
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