House prices in Romania slow down decrease in Q3 2015

Newsroom 21/01/2016 | 11:16

After a significant hike in prices during the first quarter of 2015 over the previous one (up 3.5 percent), prices dropped by 1.2 percent in Q2, then slowed down to a 0.9 percent decrease in the third quarter, according to data from Eurostat.

Across the European Union, falls were observed in Hungary (5.9 percent), Slovenia (3.5 percent) and Estonia (1.9 percent).

At the other end, the highest quarterly increases were recorded in Malta (6.2 percent), Ireland (4.5 percent), Austria (4.1 percent), Sweden and the United Kingdom (both up 3.9 percent).

Annual evolution showed a different path for house prices in Romania, trending upwards throughout the year. In Q3, as compared to the same period of the previous year, prices registered a 3 percent rise.

Among member states for which data are available, the highest y-o-y increases in house prices in the third quarter of 2015 were recorded in Sweden (13.7 percent), Austria (9.3 percent), Ireland (8.9 percent) and Denmark (7.2 percent). Falls were observed in Latvia (7.6 percent), Croatia (3.0 percent), Italy (2.3 percent) and France (1.2 percent).

House prices refer to prices of all residential properties purchased by households (flats, detached houses, terraced houses, etc.).

Natalia Martian

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