Rents up by 15.3%, house prices by 30.9% since 2010 - Products Eurostat News

null Rents up by 15.3%, house prices by 30.9% since 2010

08/07/2021

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Logo Statistics Explained

Rents and house prices in the EU have continued their steady increase in the first quarter of 2021, going up by 0.4 % and 2.2 %, respectively, compared to the fourth quarter 2020.

Between 2010 and the second quarter of 2011, house prices and rents in the EU followed similar paths. Since the second quarter of 2011, they have followed very different paths: while rents increased steadily throughout the period up to the first quarter of 2021, house prices have fluctuated significantly.

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. Then, there was a rapid rise in early 2015, since when house prices have increased at a much faster pace than rents.

Over the period 2010 until the first quarter of 2021, rents increased by 15.3% and house prices by 30.9%.

Line chart with 2 lines: development of house prices and rents in the EU from 1st quarter 2010 to first quarter 2021, index value is 100 in Q1 2010

Data source: prc_hpi_q, prc_hicp_midx

Estonia records highest increases for house prices and rents since 2010

When comparing the first quarter of 2021 with 2010, house prices increased more than rents in 17 EU Member States. House prices increased in 23 Member States and decreased in four, with the highest rises in Estonia (+126.8%) and Luxembourg (+108.2%). Decreases were observed in Greece (-28.1%, see note), Italy (-14.4%), Cyprus (-8.9%) and Spain (-4.8%).

For rents, the pattern was different. When comparing the first quarter of 2021 with 2010, prices increased in 25 EU Member States and decreased in two, with the highest rises in Estonia (+140.4%), Lithuania (+108.6%) and Ireland (+63.3%). Decreases were recorded in Greece (-25.2%) and Cyprus (-3.8%).

Bar chart: house prices and rents, changes between first quarter 2010 and 1st quarter 2021, in percentages, EU and EFTA countries, including values for the EU as a whole and euro area

Data source: prc_hpi_a, prc_hpi_q, tipsho20, prc_hicp_aind, prc_hicp_midx

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