House prices and rents went up in Q3 2024

In the third quarter of 2024, house prices in the EU went up by 3.8%, while rents increased by 3.2% compared with the third quarter of 2023.

Compared with the second quarter of 2024, house prices increased by 1.4% and rents by 0.9%.

This information comes from data on house prices and rents published by Eurostat today. This article presents the main findings from the more detailed Statistics Explained article on housing price statistics.

House prices and rents in the EU followed a similar behaviour between 2010 and the second quarter of 2011 but have since evolved differently. While rents have increased steadily, house prices have followed a more variable pattern, combining periods of decline followed by rapid increases. Between 2010 and the third quarter of 2024, house prices in the EU increased by 54.1% and rents by 26%.

Source datasets: prc_hpi_q and prc_hicp_midx

As regards national data, when comparing the third quarter of 2024 with 2010, house prices increased more than rents in 20 of the EU countries for which data are available. Over the same period, house prices more than tripled in Hungary and Estonia (both +230%) and have more than doubled in Lithuania (+181%), Latvia (+154%), Czechia (+135%), Austria (+114%), Portugal (+113%), Bulgaria (+110%) and Luxembourg (+103%). Italy was the only country where house prices decreased during this period (-4%).  

During the same period, rents increased in 26 EU countries, with the highest rises registered in Estonia (+216%), Lithuania (+183%), Ireland (+109%) and Hungary (+108%). Greece was the only country where rent prices decreased (-16%).

Source datasets: prc_hpi_a, prc_hpi_q, prc_hicp_aind, prc_hicp_midx