The price of houses in Portugal rose 13.2% in the second quarter of this year, compared to the same period last year. An increase of 3.3 percentage points compared to that registered in the European Union as a whole. According to data published by Eurostat, house prices rose by 9.9% in the Community area and 9.3% in the Eurozone, year on year.

In comparison with the previous quarter, house prices rose by 2.3% both in the euro area and in the EU countries as a whole. In Portugal, prices rose 3.1% over the first three months of the year.

Biggest price increases

Although the Portuguese are experiencing a more significant increase in house prices compared to the European average, it is not in Portugal that the most significant rises have been recorded. In year-on-year terms, the biggest increases were recorded in Estonia (+27.4%), Czech (+23.1%) and Hungary (+22.8%).

Eurostat underlines that “in all Member States for which data are available, there was an increase in house prices in the second quarter – and in 16 of them, the increases were more than 10%”, as is the case of Portugal.

Smallest increases

At the other extreme, Cyprus (+2%), Finland (+2.2%) and Denmark (+2.8%) registered the most modest increases in this indicator.

If the comparisons are made with the previous quarter, it is possible to perceive that the countries facing a greater increase in inflation in terms of the real estate market were felt in Estonia (+8%), Lithuania (+5.9%) as well as in Latvia and Slovakia (both with increases of +5.5%).