Hungary's house price growth among the highest in Europe
Compared with the previous quarter, the highest increases were recorded in Latvia (+7.5 percent), Hungary and Slovenia (both +4.4 percent)
Hungarian house price growth is among one of the highest in Europe, it has been revealed.
According to official data released by Eurostat, house prices rose by 4.7 percent in the EU in the first quarter of 2018, year-on-year, and by 0.7 percent compared to the previous quarter.
According to BBJ, Eurostat measured the house prices based on the House Price Index (HPI), which shows the price changes of all residential properties purchased by households.
Compared with the fourth quarter of 2017, average Q1 2018 house prices rose by 0.6 percent in Europe and by 0.7 percent across the whole of the EU.
Compared with the previous quarter, the highest increases were recorded in Latvia (+7.5 percent), Hungary and Slovenia (both +4.4 percent), as well as in Portugal (+3.7 percent). Decreases were registered in Malta (-4.7 percent), Cyprus (-1.8 percent) and Sweden (-0.8 percent).
Year on year, the highest annual increases in house prices in the first quarter of 2018 were recorded in Latvia (+13.7 percent), Slovenia (+13.4 percent), Ireland (+12.3 percent) and Portugal (+12.2 percent). Hungary recorded a price growth rate of 11.5 percent.