Hungary has the most significant increase in housing prices in the entire EU!

A recent survey reveals that house prices rose all across Europe. However, the most significant annual growth could be examined in Hungary.

According to the most recent Eurostat survey, house prices rose by 4.2 % in both the euro area and the EU. Experts looked at data from the second quarter of 2019 and they compared it with the second quarter of 2018. They were examining housing price statistics. The article describes the house price index (HPI) in the euro area and the EU. Data is presented both at a European and at Member State level. Data from Hungary is provided by the Hungarian Central Statistical Office.

On average, housing prices increased by 1.6% in the EU and by 1.7% in the euro area compared to last year’s data.

If we look at the quarterly growth rate, prices increased the most significantly in Latvia (5.6%), Luxemburg (5.1%) and Cyprus (4.2%). In contrast, the quarterly growth rate in Hungary was 1.6%.

However, Hvg pointed out that if we look at the annual growth rate in all 28 member states, it can be seen that

housing prices increased the most significantly in Hungary; by 14%. Hungary is followed by Luxemburg (11.4%) and Croatia (10.4%).

Housing prices decreased in only one member state; in Italy by 0.2%.

Photo: https://ec.europa.eu/

The numbers are not surprising. Daily News Hungary recently reported that the average price of renting a flat in tBudapest was around 160,000 HUF (460 EUR) this September, which is a 7% increase since last year. While the average square metre price of new flats reached 900,000 HUF (2,700 EUR) in Budapest this summer. The most expensive district is still the fifth.

Source: https://ec.europa.eu/; www.hvg.hu