European house prices continued to fall over the second quarter of 2023, making it the first annual decrease since the first quarter of 2014, a report from EU statistics office Eurostat showed on Tuesday.
House prices in the second quarter fell by 1.7% in the euro area, and by 1.1% in the European Union. Compared with the first quarter, prices rose by 0.1% in the euro area, and by 0.3% in the EU, the office said.
Eurostat data shows Germany recorded the sharpest annual decrease over the quarter, at -9.9%, followed by Denmark at -7.6%, and Sweden at -6.8%. Croatia registered the largest increase at +13.7%, followed by Bulgaria at +10.7%, and Lithuania at +9.4%.
In comparison with the first quarter of 2023, the largest falls were registered in Slovakia, Luxembourg and Hungary, while the highest increases were recorded in Latvia, Bulgaria and Estonia.
(Reporting by Nathan Vifflin, editing by Ed Osmond)