According to data from the European statistical service, the year-on-year rise in house prices slowed down in both zones, after an increase of 3.0% in the eurozone and 3.6% in the EU, in the fourth quarter of 2022.

In the chain variation, the price of houses fell, between January and March, 0.9% in the eurozone and 0.7% in the EU.

In a year-on-year comparison, six Member States recorded declines in house prices: Sweden (-6.9%), Germany (-6.8%), Denmark (-6.2%), Finland (-5.1%), Luxembourg (-1.5%) and the Netherlands (-0.1%).

In the remaining 21 EU countries, the indicator rose, with emphasis on Croatia (14.0%), Lithuania (13.1%) and Bulgaria (9.5%).

In the quarterly comparison, house prices fell in 11 Member States, with emphasis on Luxembourg (-4.1%), Germany (-3.1%) and Finland (-1.8%).

The biggest increases were recorded in Denmark (2.5%), Hungary (2.2%), Croatia and Cyprus (2.0% each).

In Portugal, the indicator advanced 8.7% year-on-year – the sixth highest among the 27 countries – and 1.3% compared to the fourth quarter of 2022.