Czech Property Prices are the Second Fastest Growing in EU After Hungary

According to the newest Eurostat data regarding the first quarter of 2019, Czech Republic has the second fastest growing property prices in Europe, with a 9.2% increase since 2018. Photo credit: Zenon Moreau.

Czech Rep., Jul 15 (JS) – On July 10, Eurostat released data regarding the pricing of houses in Europe. The average price of properties rose by 4% in the EU in the first quarter of 2019 since last year, as measured by the House Price Index.

The House Price Index (HPI) measures the price changes of all residential properties purchased by households (flats, detached houses, terraced houses, etc.), both newly built and existing, independently of their final use and independently of their previous owners.

Comparing data from the first quarter of 2018 and 2019, Czechia’s house prices have been growing by 9.2%, being second only to Hungary’s sharp 11.3% increase. Last year, the rise in the price of property in the Czech Republic was lower, sitting at 7.5% – the seventh fastest growing in Europe in 2018.

Other fast growing prices this year were recorded in Portugal (9.2%), Slovenia (8.4%) and the Netherlands (8.2%), while Italy was the only country whose house prices decreased over the year, with an average of -0.8%.

The newer data confirms that the trend started in 2015, with a constant increase in the price of housing in the EU area that does not seem to be stopping.