EU's highest annual house price rise in Q2 recorded in Estonia

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Photo: Aldo Luud / Õhtuleht

House prices remained stable in the euro area and rose by 1.7 percent in the European Union in the second quarter of 2014, with the highest annual rise recorded in Estonia, it appears from data released by Eurostat on Thursday.

Compared with the second quarter of 2013, house prices in Estonia were 14.5 percent higher this year. Next came Ireland and Britain with annual increases of 12.5 percent and 10.2 percent, respectively. The largest decreases were observed in Slovenia and Italy where prices fell by respectively 9.8 percent and 4.8 percent.

Quarter on quarter, prices rose by 0.9 percent in the euro area and by 1.4 percent across the EU. The sharpest quarterly growth of 6.8 percent was recorded in Ireland. House prices decreased the most in quarterly comparison in Slovenia and Romania, by respectively 2.6 percent and 1.3 percent.