Post by account_disabled on Mar 12, 2024 6:47:15 GMT
The price of housing in the European Union registered a drop of 0.7% in the first quarter of 2023 in the first quarter of the year compared to the previous three months, when it had fallen 1.4%, thus chaining two consecutive quarters down for the first time since early 2013, according to data published by Eurostat.
In the case of the euro zone, house prices recorded an average drop of 0.9% between January and March , compared to a decrease of 1.7% in the fourth quarter of 2022, thus registering consecutive quarterly declines for the first time. from the first quarter of 2025 and the fourth quarter of 2014.
Among the Twenty-seven, prices decreased Cambodia Telegram Number Data quarterly in 11 Member States. The largest increases were recorded in Denmark (+2.5%), Hungary (+2.2%), as well as Croatia and Cyprus (both +2%). The biggest falls were recorded in Luxembourg (-4.1%), Germany (-3.1%) and Finland (-1.8%).
The pressure on housing prices coincides with the tightening of credit conditions as a result of the cycle of interest rate increases by the European Central Bank (ECB), which has raised the price of money by up to 4% . after having applied eight consecutive rate increases since July 2022.
Compared to the first quarter of last year, house prices in the eurozone increased by 0.4%, after the year-on-year increase of 3% in the fourth quarter 2022, while among the Twenty-seven houses became more expensive by 0.8%, compared to the increase of 3.6% year-on-year in the last quarter of last year.
The largest annual house price increases were recorded in Croatia (+14%), Lithuania (+13.1%) and Bulgaria (+9.5%), while prices fell in Sweden (-6.9% ), Germany (-6.8%), Denmark (-6.2%), Finland (-5.1%), Luxembourg (-1.5%) and the Netherlands (-0.1%).
In the case of Spain, house prices experienced an increase of 0.7% in the first quarter of 2023 compared to the previous three months, when it fell 0.8%, while compared to the same interval in 2022 Housing became more expensive by 3.5%.
In the case of the euro zone, house prices recorded an average drop of 0.9% between January and March , compared to a decrease of 1.7% in the fourth quarter of 2022, thus registering consecutive quarterly declines for the first time. from the first quarter of 2025 and the fourth quarter of 2014.
Among the Twenty-seven, prices decreased Cambodia Telegram Number Data quarterly in 11 Member States. The largest increases were recorded in Denmark (+2.5%), Hungary (+2.2%), as well as Croatia and Cyprus (both +2%). The biggest falls were recorded in Luxembourg (-4.1%), Germany (-3.1%) and Finland (-1.8%).
The pressure on housing prices coincides with the tightening of credit conditions as a result of the cycle of interest rate increases by the European Central Bank (ECB), which has raised the price of money by up to 4% . after having applied eight consecutive rate increases since July 2022.
Compared to the first quarter of last year, house prices in the eurozone increased by 0.4%, after the year-on-year increase of 3% in the fourth quarter 2022, while among the Twenty-seven houses became more expensive by 0.8%, compared to the increase of 3.6% year-on-year in the last quarter of last year.
The largest annual house price increases were recorded in Croatia (+14%), Lithuania (+13.1%) and Bulgaria (+9.5%), while prices fell in Sweden (-6.9% ), Germany (-6.8%), Denmark (-6.2%), Finland (-5.1%), Luxembourg (-1.5%) and the Netherlands (-0.1%).
In the case of Spain, house prices experienced an increase of 0.7% in the first quarter of 2023 compared to the previous three months, when it fell 0.8%, while compared to the same interval in 2022 Housing became more expensive by 3.5%.