Romania's house prices rose 5.6 pct y/y in Q4 2017, more than EU average

Romania’s house prices rose 5.6 pct y/y in Q4 2017, more than EU average

House prices in Romania increased by 5.6 percent year-on-year in the last quarter of 2017, more than the European Union average, Eurostat data show.

Year-on-year house prices’ growth in Romania slowed in the fourth quarter, from 7.2 percent in the second quarter and 6.2 percent in the third quarter of 2017.

Compared with the third quarter of 2017, house prices in Romania grew by 1.2 percent in the fourth quarter.

“House prices, as measured by the House Price Index, rose by 4.2% in the euro area and by 4.5% in the EU in the fourth quarter of 2017 compared with the same quarter of the previous year,” EU’s statistical branch said in a press release.

Among the EU member states, the highest annual increases in house prices in the last quarter of 2017 were recorded in Ireland (+11.8 percent), Portugal (+10.5 percent) and Slovenia (+10 percent), while prices fell only in Italy (-0.3 percent), according to Eurostat.