As changing real estate prices in European countries in 2013

The average price for residential property in the Euro-zone falls. In the third quarter of 2013, the drop was 1.3% .

These data were published by the official statistical Agency of the European Union.

However, it is interesting to see what is the situation with changes in property prices in different countries of Europe.

The highest growth of average prices for residential property in 2013 was in Estonia, where prices for residential property grew by 11.1%. Followed by Luxembourg with prices rising to 6.5% , but this applies only to the growth of apartments in Luxembourg. Next is Latvia with price growth of 6.2%.

The strong decrease of prices for residential real estate saw Croatia , where prices fell by 16.9%, followed by Cyprus with prices falling 8% and then Spain with prices falling 6.4%.

In the UK and Ireland, Good growth in home prices recorded in recent quarters. In Ireland by 4.1% and in the UK 2.5%. On an annual basis, property prices in the UK increased by 3.6% and in Ireland by 3.7% on average in the country.

In recent quarters slowed down the decline in Spain – if in the second quarter, there was a drop of 5.1% compared to the first quarter, in the third quarter, the fall in prices was only 0.8% compared with the second.

A noticeable improvement of the situation with real estate in Portugal. In the third quarter of 2013, the decline in prices was 0.4%, whereas in the second it was 0.9% in the first and 3.2% .

In France, housing prices could reverse the downtrend and began to rise in the 3rd quarter of 2013. In the first quarter, falling 1.2%, the second decline slowed to 0, 2% in the third quarter as France finally saw prices rise 1.2%

Housing prices also climbed in Sweden and Iceland. In Sweden prices have risen by 1.8% over the quarter and by 5.8% per year.

In Norway, the observed price fluctuations. The residential property prices in Norway rose strongly at the end of 2012, 7.4%, but in 2013 price growth slowed in Q3 2013, prices began to fall, as a result, now the annual growth of 2013 was only 2.1%.

Thus, the only two countries where there is a stable long-term growth trend in property prices is the UK and Ireland.

® Alice Morgan 24.01.2013 g.

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