House prices and rents went up in Q2 2024

In the second quarter of 2024, house prices in the EU increased by 1.9% and rents by 0.7% compared with the first quarter of 2024.

Compared with the second quarter of 2023, house prices went up by 2.9%, while rents increased by 3.0%. 

This information comes from data on house prices and rents published by Eurostat today. This article presents findings from the more detailed Statistics Explained article on housing price statistics.

House prices and rents in the EU followed a similar pattern between 2010 and the second quarter of 2011 but have since evolved differently. While rents have increased steadily, house prices have followed a more variable pattern, combining periods of decline followed by rapid increases. Between 2010 and the second quarter of 2024, house prices increased by 52% and rents by 25%.

Source datasets: prc_hpi_q and prc_hicp_midx

House prices more than doubled in 9 EU countries since 2010 

When comparing the second quarter of 2024 with 2010, among the EU countries for which data are available, house prices increased more than rents in 20 countries. House prices more than tripled in Estonia (+232%) and Hungary (+218%) and have more than doubled in Lithuania (+178%), Latvia (+146%), Czechia (+131%), Austria (+111%), Portugal (+106%), Luxembourg (+103%) and Bulgaria (+102%). House prices did not change in Cyprus and decreased in Italy (-5%).  

For the same period, rents increased in 26 EU countries, with the highest rises registered in Estonia (+203%), Lithuania (+178%), Ireland (+106%) and Hungary (+104%). The only decrease in rent prices was recorded in Greece (-18%). 

Source datasets: prc_hpi_a, prc_hpi_q, prc_hicp_aind, prc_hicp_midx