Housing Prices in Europe
In the fourth quarter of 2023, housing prices decreased by 1.2% in the euro area and increased by 0.2% in the EU, according to Agerpres.
Annual Trends
Among EU member states with available data, seven reported annual decreases in housing prices in the first quarter of 2024, while 19 reported annual increases. The most significant decline was seen in Luxembourg (10.9%), Germany (5.7%), and France (4.8%), while the most significant growth was observed in Poland (18%), Bulgaria (16%), and Lithuania (9.9%).
Romania reported a 5.5% increase in the first quarter of 2024, following a 3.7% growth in the last three months of 2023.
Quarterly Comparison
Compared to the previous quarter, housing prices decreased by 0.1% in the euro area and increased by 0.4% in the EU in the period from January to March 2024. Prices declined in eight EU member states and increased in 18. The most significant decline was in Denmark (2.5%), France (2.1%), and Slovakia (1.7%).
Economic Growth in Eastern Europe
Bulgaria, Hungary, and Poland have experienced the most significant growth in Eastern Europe, with Bulgaria leading at 7.1%, followed by Hungary at 5.1% and Poland at 4.3%.
Romania’s Economic Performance
Romania reported a growth of 1.3% in the first quarter of 2024, following a 1.5% increase in the last three months of 2023. Despite the lower growth rate compared to its neighbors, Romania’s economy continues to show positive signs of development.