House prices, including purchases of both new-build and existing houses and flats, have fluctuated significantly since 2006. Annual growth rates in the EU were around 8 % in 2006 and 2007, followed by a fall of 4 % in 2009 as a result of the financial crisis. Prices started growing again in 2014.
Overall, house prices rose 11 % in the EU between 2010 and 2017 and 6 % in the euro area. Among the Member States, the highest increases during this period were recorded in Estonia (+73 %), Sweden (+56 %), Austria (+49 %), Latvia (+47 %) and Luxembourg (+40 %), and the largest decreases in Spain (-17 %), Italy (-15 %) and Cyprus (-9 %).
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