Portugal house prices hit record high in EU

Portugal’s house prices are on the rise, Eurostat reported on Thursday. According to Eurostat, after finishing strongly in Q1 2021, house price growth has maintained momentum through Q2 witnessing a record year-on-year growth of 6.8% in the euro area and 7.3% in the European Union (EU).

The European statistics office further reported that this is the highest increase since Q4 of 2006 in the euro area and in the EU since Q3 of 2007.

The report indicates that in 11 member states, house prices increased by more than 10% year-on-year, with Estonia (16.1%), Denmark (15.6%) and the Czech Republic (14.5%) recording the largest increases and Cyprus having the only decline (-4.9%).

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