Housing prices in Latvia grow more rapidly than average prices in the EU

Housing prices in Latvia went up more rapidly in Q4 2023 when compared to the same period of the year prior. Prices grew by 1%, which is more rapid than the average housing price growth in the EU, according to data published by Eurostat for 26 member states.
The fastest year-on-year increase in housing prices was recorded in Poland (13%), Bulgaria (10.1%), Croatia (9.5%) and Lithuania (8.3%). In Estonia, house prices went up by 5.8%.
In general, housing prices in Q4 2023 went up in 18 EU member states for which data is available. The most rapid drop, however, was in Luxembourg (-14.4%), Germany (-7.1%) and Finland (-4.4%).
In EU member states, the average annual housing prices increased by 0.2% in October, while in Eurozone they decreased by 1.1%. On a quarterly basis, housing prices in the EU fell by 0.3% on average in the fourth quarter and by 0.7% in Eurozone.
In quarter-on-quarter terms, housing prices went down in 11 member states of the bloc, with the sharpest drop observed in France (2.7%), Latvia (2.5%), as well as Denmark and Sweden (2.3% in both), with the largest increases recorded in Poland (4.8%), Croatia (3.4%) and Ireland (3%), while in Italy they remained unchanged. In Lithuania, housing prices increased by 1.5% and in Estonia by 2.1%.
No data is available for Greece.