Portugal: House prices rise 7.1pct in Q3 2020, above EU average – Eurostat

House prices rose 4.9% in the euro area and 5.2% in the EU in the third quarter of 2020 compared with the same period last year, with Portugal rising above the average (7.1%), according to Eurostat.

According to the European statistical office, house prices, as measured by the House Price Index, rose by 1.3% in the euro area and 1.4% in the EU compared with the second quarter of 2020, with Portugal showing an increase below average (0.5%).

Among the Member States for which data are available, the largest year-on-year increases in house prices in the third quarter of 2020 were seen in Luxembourg (13.6%), Poland (10.9%) and Austria (8.9%), the only decreases being in Cyprus (-1.4%) and Ireland (-0.8%).

Compared to the previous quarter, the largest increases were recorded in Hungary (5.2%), Denmark (4.2%) and Latvia (3.7%), while there were chain decreases in house prices in Cyprus (-4.8%), Romania (-2.6%), Italy (-2.5%) and Croatia (-0.6%).