European rents up 15%, house prices by 28.6% since 2010
Irish house prices rose in line with the EU average of 28.9% over the past decade, according to figures published today by Eurostat, the EU’s statistical agency.
The figures measure price and rent movements from 2010 until the fourth quarter of 2020.
However, rental prices in Ireland rose by 61.8% over the same period. That was the third highest increase in the EU.
The EU average increase in rents was 14.9%.
House prices on average fell across the EU from 2011 to 2013 and were stable until 2015 when they began to rise “rapidly”, according to Eurostat.
The steepest increases were in Estonia (112.8%) Luxembourg (99.8%) and Hungary (90.6%). Germany saw house prices increase by just over 70%.
Prices fell in four EU countries – Greece (-28.1%) Italy (-15.2%) Spain (-5.2%) and Cyprus (-3.4%).
Rent increases were highest in Estonia (143.5%) Lithuania (109.2%) and Ireland (61.8%).
Rents fell in just two countries – Greece and Cyprus.