Prices in the Eurozone and the European Union are rising, but at a progressively slower pace.
Source: Freepik
Author: Redaction
According to data published last Friday 5 July by Eurostat, house prices in Portugal are showing no signs of falling, continuing to rise above the average for the Eurozone and the European Union (EU), which, despite also continuing to rise, are progressively slower.
Between January and March this year, the Portuguese market saw year-on-year growth of 7 per cent, still above the average of 1.4 per cent recorded in the EU countries, and still far from the 0.4 per cent correction felt in the 20 member countries of the Eurozone. However, despite having risen sharply, house prices in Portugal are beginning to show signs of slowing down, with the quarter-on-quarter change standing at just 0.6 per cent, compared to 1.3 per cent in the previous quarter. Year-on-year growth, on the other hand, was 7 per cent, compared to 7.8 per cent in the final quarter of last year.
The figures may correspond to a turning point in the market, after large rises had been experienced and, according to Eurostat, following Portugal, with a year-on-year price increase of 18 per cent, are Bulgaria and Lithuania, with increases of 18 per cent and 16 per cent respectively.
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