House prices grew 15 % in the EU, 11 % in the euro area and dropped by 8% in Cyprus between 2010-2018

House prices, including the purchase of both new and existing houses and flats, have fluctuated significantly since 2006 with annual growth rates in the EU of around 8 % in 2006 and 2007, followed by a fall of 4 % in 2009 as a result of the financial crisis. Prices started growing again in 2014, according to data relased on Wednesday by Eurostat.

It said overall, between 2010 and 2018, house prices grew in total by 15 % in the EU and by 11 % in the euro area. Among the Member States, the highest increases during this period were observed in Estonia (+83 %), Latvia (+61 %), Austria (+56 %), Sweden (+55 %) and Luxembourg (+50 %), and the largest decreases in Italy (-17 %), Spain (-12 %) and Cyprus (-8 %).

Source: Cyprus News Agency