Eurostat has published statistics on changes in housing prices in the EU for the third quarter of 2023

  • 29
The dynamics differ when comparing the results with the third quarter of 2022 or the second quarter of 2023.

What has happened

In the third quarter of 2023, both house prices and rents in the EU increased by 0.8% compared to the second quarter of 2023, according to Eurostat. Compared to the third quarter of 2022, house prices in the EU decreased by 1.0% and rents increased by 3.0%.

The background

House prices and rents in the EU followed a comparable growth trajectory between 2010 and the second quarter of 2011. After this quarter, home prices and rents evolved differently. While rents rose steadily throughout this period until the second quarter of 2023, home prices fluctuated significantly.

After sharp declines in the second quarter of 2011 and the first quarter of 2013, house prices remained more or less stable between 2013 and 2014. A rapid growth followed in early 2015, and until the third quarter of 2022, home prices increased faster than rents. Since the fourth quarter of 2022, home prices fell for two consecutive quarters before rising again in the second and third quarters of 2023.

From 2010 to the third quarter of 2023, home prices have increased by 48% and rents have risen by 22%.


When comparing the third quarter of 2023 with 2010, house prices rose more than rents in 18 of the 27 EU countries.

During this period, housing prices more than tripled in Estonia (+210%) and more than doubled in Hungary (+185%), Lithuania (+158%), Latvia (+141%), Austria (+123%), Czech Republic (+122%) and Luxembourg (+107%). Declines were observed in Greece (-14%), Italy (-8%) and Cyprus (-2%).

Rents increased in 26 EU countries, with the largest increases in Estonia (+218%), Lithuania (+170%) and Ireland (+100%). The only decrease in rental prices was recorded in Greece (-20%).

Please read also: The EU has agreed to simplify employment rules for third-country nationals

Source: Eurostat

Photo by Christian Lue on Unsplash

Quoting conditions of Prian.info materials

Share the link:
Tags: Market Analysis, Investment, Real Estate

Read also

Rental rates in Greece "eat" about 35% of the tenants’ income
Economists believe that the acceptable limit is 30%.
Rental rates for student accommodation in Greece are soaring
The sharp increase in rents has extended to the countryside
Bloomberg has named major problems of the German real estate market
Developers are the ones in most immediate danger of insolvency.
Parisians are no longer fleeing the capital. Demand for homes in Île-de-France is falling
House prices in the region are declining due to the end of the lockdown, rising interest rates,...
Parisians long to earn on short-term rentals during the Olympics
Many residents of the French capital are planning to move into their country houses, leaving...
Greece is going to tighten the conditions of the popular investment program
The move aims to combat the crisis in the real estate market.

Interesting to read