House prices in Romania, the third highest decrease in EU in 2015

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The house prices in Romania, as measured by the House Price Index, have registered the third largest decrease among the EU Member States, Eurostat, the statistical office of the European Union, reveals. New build housing prices in Romania fell by 1.6 percent in 2015.

The highest annual decreases in house prices in 2015 were recorded in Latvia (7.7 percent), followed by Croatia (6.2 percent), Italy (1.5 percent), and Cyprus (1.4 percent).

In the rest of European countries, the prices have risen and the biggest advance was registered in Ireland, 25.5 percent, followed by Denmark with an increase of 11.7 percent and Estonia with 11.1 percent.

As regards the existing housing prices in Romania, they increased by 3.4 percent in 2015, placing Romania in the middle ranking. While in Italy the old housing prices have depreciated by 3.1 percent, in Sweden they increased by 14.8 percent.

According to the same Eurostat data, house prices rose by 3.4 percent in the euro area and by 4.3 percent in the EU in the third quarter of 2016 compared with the same quarter of the previous year. Compared with the second quarter of 2016, house prices rose by 1.3 percent in the euro area and by 1.5 percent in the EU in the third quarter of 2016.

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