House prices, including purchases of both new and existing houses and flats, have fluctuated significantly since 2006 with annual growth rates in the EU of 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, between 2010 and 2018, house prices grew in total by 15 % in the EU and by 11 % in the euro area. Among the Member States, the highest increases during this period were observed in Estonia (+83 %), Latvia (+61 %), Austria (+56 %), Sweden (+55 %) and Luxembourg (+50 %), and the largest decreases in Italy (-17 %), Spain (-12 %) and Cyprus (-8 %).
Do you want to know more about how the housing market and a large range of other economic topics have changed since the start of the millennium? Go and have a look at the new digital publication The European economy since the start of the millennium!
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