Rents and house prices in the EU continued to increase in the third quarter of 2022, going up by 2.1 % and 7.4 %, respectively, compared with the third quarter of 2021.
This information comes from data on rents and house prices published by Eurostat today. The article presents a handful of findings from the more detailed Statistics Explained article on housing price statistics.
House prices and rents in the EU followed a similar increasing path between 2010 and the second quarter of 2011. However, after this quarter, house prices and rents have evolved differently. While rents increased steadily throughout this period up to the third quarter of 2022, house prices fluctuated considerably, and since the first quarter of 2015 have been on an upward trend.
After a sharp decline between the second quarter of 2011 and the first quarter of 2013, house prices remained more or less stable between 2013 and 2014. After a rapid rise in early 2015, house prices increased faster than rents.
From 2010 until the third quarter of 2022, rents increased by 18 % and house prices by 49 %.
House prices more than doubled in Estonia, Hungary, Luxembourg, Lithuania, Latvia, Czechia and Austria
When comparing the third quarter of 2022 with 2010, house prices increased more than rents in 19 EU Member States.
Over this period, house prices increased in 24 EU Member States and decreased in three. They more than doubled in Estonia (+199 %), Hungary (+174 %), Luxembourg (+140 %), Lithuania (+137 %), Latvia (+134 %), Czechia (+133 %) and Austria (+130 %). Decreases were observed in Greece (-22 %, see methodological notes), Italy (-9 %) and Cyprus (-0.3 %).
When comparing the third quarter of 2022 with 2010 for rents, prices increased in 26 EU Member States and decreased in one, with the highest rises in Estonia (+233 %) and Lithuania (+151 %). Decreases were recorded in Greece (-24 %).
For more information
- Statistics Explained article on housing price statistics – house price index
- Database on housing price and sales
- Thematic section on housing prices and sales
Methodological notes:
- House prices: data from Bank of Greece, 2021 instead of Q3 2022.
- Switzerland: data for house prices not available.