House prices, as measured by the House Price Index, rose by 4.2% in the euro area and by 4.5% in the EU in the fourth quarter of 2017 compared with the same quarter of the previous year. Compared with the third quarter of 2017, house prices rose by 0.9% in the euro area and by 0.7% in the EU in the fourth quarter of 2017.
In Cyprus house prices increased by 2.7% compared to the third quarter and by 2.5% compared to the fourth quarter of 2016. These figures come from Eurostat, the statistical office of the European Union.
Among the Member States for which data are available, the highest annual increases in house prices in the fourth quarter of 2017 were recorded in Ireland (+11.8%), Portugal (+10.5%) and Slovenia (+10.0%), while prices fell in Italy (-0.3%). Compared with the previous quarter, the highest increases were recorded in Slovenia (+3.7%), Croatia (+3.2%) and Cyprus (+2.7%), while decreases were observed in Sweden (-2.8%), Denmark (-1.7%), Belgium (-0.4%) and Finland (-0.3%).