According to Eurostat, prices of homes in the EU rose by 9.9% on an annual basis in the second quarter of this year. The price increase was 9.3% for the euro zone. Both numbers are lower than for the first quarter, when home prices rose by, respectively, 10.4% and 9.8%.
Estonia experienced the fastest second-quarter increase in home prices, with 27.4%. It was the third quarter in a row for which Estonian home prices rose more than 20% year-to-year.
The second-highest increase took place in Czechia, where home prices in Q2 of this year were 23.1% higher than in Q2 of 2021. Czech home prices have been rising by more than 20% per year for at least four quarters.
Hungarian home prices rose by 22.8%, marking three consecutive quarters with increases at more than 20% per year.
Lithuania also experienced 20+% annual home-price inflation. At 22.1%, the second-quarter number was the highest in at least four quarters.
The lowest increases took place in Cyprus (2.0%), Finland (2.2%), and Denmark (2.8%). In Finland and Denmark, the second-quarter figure was the lowest in a year, also marking the third quarter in a row with decelerating home-price inflation.
Eurostat also reports home-price inflation on a quarter-to-quarter basis. At 8%, Estonia had the fastest-rising home prices from the first to the second quarter of this year. The second-quarter increase was the highest quarter-to-quarter home-price inflation rate since at least Q3 of 2021 (3.4%).
Lithuania came in second with a quarter-to-quarter increase of 5.9%, followed by Latvia and Slovakia at 5.5%.
Swedish home prices increased the slowest from Q1 to Q2: with 0.5%, Sweden was the only country below 1%.
Eurostat does not report home-price inflation numbers for Greece.
