Housing Prices Up By 4.5% In Malta As Euro Area Numbers Drop
Housing prices were up 4.5% in Malta during the last quarter, as compared with the same quarter of last year, according to figures released from Eurostat.
On the other hand, compared to the previous quarter, Malta’s housing prices still saw an increase, but this time of 1.5%.
Meanwhile, housing prices within the euro area experienced a 1.7% drop and a 1.1% drop in the EU compared with the same quarter of the previous year.
In the first quarter of 2023, house prices rose by 0.4% and 0.8% in the euro area and the EU, respectively. This is the first annual decrease since the first quarter of 2014.
Compared with the first quarter of 2023, house prices rose by 0.1% in the euro area and by 0.3% in the EU in the second quarter of 2023.
Among the Member States for which data is available, nine showed an annual decrease in house prices in the second quarter of 2023, and seventeen showed an annual increase.
The largest falls were registered in Germany (-9.9%), Denmark (-7.6%) and Sweden (-6.8%), while the highest increases were recorded in Croatia (+13.7%), Bulgaria (+10.7%) and Lithuania (+9.4%).
Compared with the previous quarter, prices decreased in eleven Member States and increased in fifteen Member States. The largest falls were registered in Slovakia (-3.9%), Luxembourg (-2.7%), and Hungary (-1.7%), while the highest increases were recorded in Latvia (+5.1%), Bulgaria (+4.3%) and Estonia (+3.8%).
What do you make of these new figures?
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