House prices in Romania rose by 3.3 pct in Q1 2016, says Eurostat

Newsroom 12/07/2016 | 14:39

Romania records one of the highest increases in house prices, with a raise of 3.3 percent compared to the previous quarter of the year, as revealed by an Eurostat study released on Tuesday.

In comparison to the same quarter of the same year, the study shows Romania registered a house price increase of 2.6 percent.

The house price rise in the European Union hit 4 percent in the first quarter of 2016 compared with the same quarter of the previous year.

The highest annual increase in house prices in the first quarter of 2016 among the European Union members were recorded in Hungary, with a 15.2 percent rise. Austria is on the second place with 13.4 percent, while Sweden registered a house price increase of 12.5 percent.

Italy and Cyprus were the only two countries to register falls in the house prices in the first quarter of 2016, each hitting a -1.2 percent drop.