House prices up in Romania in Q1 but at a lower rate than in the EU

House prices increased by 3.3% year-on-year in Romania in the first quarter of the year, according to data released by Eurostat, the statistical office of the European Union (EU). By comparison, house prices rose by 4% in both the euro area and the EU in the first quarter of 2019 compared with the same quarter of the previous year.

Among the EU Member States, the highest annual increases in house prices in the first three months of the year were recorded in Hungary (+11.3%), Czechia (+9.4%) and Portugal (+9.2%), while prices fell in Italy (-0.8%).

Compared with the previous quarter, the highest increases were recorded in Hungary (+3.7%), Portugal (+3.6%) and Croatia (+3.5%), while decreases were observed in Malta (-4.2%), the United Kingdom (-1.3%), Ireland (-1.0%), Finland (-0.8%), Italy (-0.5%) and Germany (-0.3%), Eurostat said.

In the euro area and the EU, the quarter-on-quarter increase was 0.3%. In Romania, the growth was below the EU average - 0.1%.

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