Housing prices in Latvia have increased by 9.1% in the fourth quarter of 2022 compared to the corresponding period a year ago, which is a faster increase than the average in the European Union (EU) and the eurozone, according to the data published by the EU statistical office “Eurostat” for the 26 member states of the bloc.
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The fastest annual increase in house prices was registered in Croatia (+17.3%), Estonia (+16.9%), Hungary (+16.5%), Lithuania (+16%) and Bulgaria (+13.4%).
In general, housing prices increased in the fourth quarter year-on-year in 22 EU member states for which data are available, but decreased in Denmark (-6.5%), Sweden (-3.7%), Germany (-3.6%) and Finland (- 2.3%).
In EU member states, housing prices rose by 3.6% on average in October-December, and by 2.9% in the eurozone. In quarterly terms, housing prices in the EU decreased by 1.5% on average in the fourth quarter, and by 1.7% in the eurozone.
In terms of the quarter, housing prices increased in 15 member states of the bloc, the fastest increase was in Croatia (+4.7%), Romania (+2.5%) and Lithuania (+1.9%), the biggest decrease was recorded in Denmark (-6.5%) , in Germany (-5%) and Cyprus (-4%), while in Italy they remained unchanged. Housing prices in Latvia decreased by 0.2%, while in Estonia they increased by 0.2%.
No data available for Greece.