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House price jump in Portugal

apartmentsEstonia experienced the largest rises in house prices across the European Union’s 28 member countries. Prices there rose by 14.5% during the April to June period this year.

Ireland followed with the second strongest increases, registering 12.5% growth.

Britain’s 10.2% increase in the same period meant it had the third biggest increase.

Portugal saw a 5.9% jump in those three months when compared to the same period in 2013. This put Portugal in eighth position, well ahead of both Spain with its price rises of just 0.8% and France where property values dropped 1.1% over the period.

The figures from Eurostat were national ones, with no breakdown provided for regions.

The three-month increase in values in Portugal were well ahead of increases seen in Denmark (4%), Luxembourg (3.8%), the Netherlands and Norway (both 1.3%)

Property prices fell in eight EU countries during the period. In addition to France, lower prices were noted in Italy (down by 4.8%), Cyprus (1.5%) and Belgium (0.8%).

On average, prices in the EU are still well below their pre-crisis peak in 2007, but higher than the doldrums of mid-2009.

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