Context and Publisher Information
The document titled "Housing price statistics - House Price Index" presents data from the European Commission, specifically compiled by Eurostat, which is responsible for providing statistical information to the institutions of the European Union. The latest data was uploaded on October 2, 2025, and reflects housing price trends in the euro area and European Union for Q1 2025.
Key Housing Price Trends
In Q1 2025, house prices in the euro area increased by 5.4% compared to the same quarter in 2024, while in the European Union, prices rose by 5.7%. This article outlines the House Price Index (HPI), illustrating trends in residential property prices, which include flats, detached houses, and terraced houses, regardless of their previous ownership or final use. The report indicates that after a decline between Q2 2011 and Q1 2013, house prices stabilized from 2013 to 2014, followed by significant increases starting in early 2015.
Quarterly and Annual Growth Rates
The HPI reveals that house prices increased at a faster rate than rents until Q3 2022. However, there were declines in prices during Q4 2022 and Q1 2023 before a resurgence in growth occurred from Q1 2024 to Q1 2025. The annual growth rates reached a maximum of +10.0% for the euro area in Q1 2022 and a minimum of -2.6% in Q1 2013. In Q1 2025, the annual growth rate for the euro area was +5.4%, while it was +5.7% for the EU.
Regional Variations in Housing Prices
Among EU countries, only Finland experienced an annual decrease in house prices in Q1 2025, with a decline of -1.9%. Conversely, notable increases were observed in Portugal (+16.3%), Bulgaria (+15.1%), and Croatia (+13.1%). The report also highlights that 22 EU countries saw price increases compared to the previous quarter.
Implications for Housing Market Dynamics
The HPI serves as a vital tool for analyzing housing market dynamics and can be used alongside other macroeconomic statistics to derive indicators that reflect market conditions. A notable example is the deflated HPI, which accounts for consumer price inflation and offers insights into real market trends. The analysis indicates that between 2010 and 2014, house prices exhibited a decreasing trend relative to inflation, but from 2015 onward, they began to rise faster than inflation.
Long-Term Trends in Prices and Rents
From 2010 to Q1 2025, house prices in the EU increased by 57.9%, while rents rose by 27.8%. The first quarter of 2025 saw rents increase by 3.2% and house prices by 5.7% compared to the same period in 2024. Notably, house prices more than tripled in Hungary and Estonia over this period, while Italy was the only country to experience a decrease in prices.
Weights and Methodology
The HPI for the euro area and EU aggregates is calculated as a weighted average of national HPIs, with weights based on GDP and HPI from the previous year. Eurostat publishes separate indices for newly built and existing dwellings, reflecting differences in price evolution. The methodology focuses on actual transactions and excludes non-market prices, emphasizing the importance of market dynamics in sustainable housing discussions.
This comprehensive overview of housing price statistics provides valuable insights into trends that can inform discussions about sustainable housing practices across Europe.