House prices and rents went up in Q2 2024

Eurostat reports that in the second quarter of 2024, house prices in the EU increased by 1.9% and rents by 0.7% compared with the first quarter of 2024. 

Compared with the second quarter of 2023, the price of houses went up by 2.9%, while rents increased by 3.0%.

House prices and rents in the EU followed a similar pattern between 2010 and the second quarter of 2011 but have since evolved differently. While rents have increased steadily, the price of houses have followed a more variable pattern, combining periods of decline followed by rapid increases. Between 2010 and the second quarter of 2024, house prices increased by 52% and rents by 25%.

House prices have more than doubled in 9 EU countries since 2010  

When comparing the second quarter of 2024 with 2010, among the EU countries for which data are available, the price of houses increased more than rents in 20 countries. House prices more than tripled in Estonia (+232%) and Hungary (+218%) and have more than doubled in Lithuania (+178%), Latvia (+146%), Czechia (+131%), Austria (+111%), Portugal (+106%), Luxembourg (+103%) and Bulgaria (+102%). The price of houses did not change in Cyprus and decreased in Italy (-5%).  

For the same period, rents increased in 26 EU countries, with the highest rises registered in Estonia (+203%), Lithuania (+178%), Ireland (+106%) and Hungary (+104%). The only decrease in rent prices was recorded in Greece (-18%).