In the first quarter of 2025, house prices in the euro area and European Union rose by 1.3% and 1.4% respectively compared to the previous quarter. Portugal stood out with the second largest increase at 4.8%.
Looking at year-over-year changes, 25 EU member states saw annual increases in house prices, while only one – Finland – recorded a decrease (-1.9%). The largest annual gains were in Portugal (16.3%), Bulgaria (15.1%) and Croatia (13.1%).
Comparing the first quarter of 2025 to the previous quarter, prices decreased in 4 member states and increased in 22. The biggest quarterly drops were in Slovenia (-2.0%), Luxembourg (-1.2%) and Finland (-1.0%), while Hungary (5.2%), Portugal (4.8%) and Croatia (4.5%) saw the largest increases.
So in summary, Portugal emerged as a standout performer, with house prices rising significantly both quarter-over-quarter and year-over-year, far outpacing the broader EU trends. This highlights the strength of Portugal’s housing market relative to other member states during this period.
We’ll continue to monitor these housing market developments across the EU and provide updates as new data becomes available. Let me know if you have any other questions!
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