House prices in Austria have risen faster than in the EU
Austria was again well above the EU average: According to the house price index (HPI), the increase in the 19 euro countries was 6.8 percent and in the entire EU-27 7.3 percent, as Eurostat announced on Thursday. This is the highest annual increase in the euro area since the fourth quarter of 2006 and in the EU since the third quarter of 2007.
Compared to the first quarter of 2021, house prices rose by 2.6 percent in the euro area and by 2.7 percent in the EU in the second quarter of 2021. In Austria the increase was 4.2 percent. Real estate in Estonia (plus 16.1 percent), Denmark (plus 15.6 percent) and the Czech Republic (plus 14.5 percent) recorded the big annual price surge, while the only decline was again recorded in Cyprus (minus 4.9 percent) became. No data were available for Greece.
Latvia (plus 6.7 percent), Slovenia (plus 4.5 percent) and Austria (plus 4.2 percent) reported the highest increases compared to the previous quarter. No EU country reported a fall in prices here.
The house price index measures the price development of all residential properties (new and old buildings) purchased by households, regardless of their final use and their previous owners. The data are not seasonally adjusted.