In Portugal, prices for residential property were up 8.5% in the quarter on the same period of 2017, while in both the euro area and the EU the year-on-year increase was 4.3%.

As against the second quarter, housing prices in the euro area in the third quarter were up 1.6% and in the EU by 1.5%. In Portugal they were up 1.0%.

According to Eurostat, the biggest year-on-year increases in the third quarter were in Slovenia (15.1%), the Netherlands (10.2%) and Ireland (9.1%). Just Sweden (-2.1%) and Italy (-0.8%) saw prices drop.