Home costs and rents elevated between Q2 and Q3 2023

Within the third quarter of 2023, each home costs and rents within the EU elevated by 0.8% in contrast with the second quarter of 2023.

In contrast with the third quarter of 2022, home costs within the EU decreased by -1.0%, whereas rents elevated by 3.0%. 

This data comes from knowledge on rents and home costs printed by Eurostat right now. This text presents a handful of findings from the extra detailed Statistics Defined article on housing value statistics.

Home costs and rents within the EU adopted a comparable growing path between 2010 and the second quarter of 2011. After this quarter, home costs and rents advanced in a different way. Whereas rents elevated steadily all through this era as much as the second quarter of 2023, home costs fluctuated significantly. 

Supply datasets: prc_hpi_q and prc_hicp_midx

After a pointy decline between the second quarter of 2011 and the primary quarter of 2013, home costs remained kind of secure between 2013 and 2014. A fast rise adopted in early 2015, and home costs elevated sooner than rents till the third quarter of 2022. Because the fourth quarter of 2022, home costs fell for 2 quarters in a row earlier than rising once more within the second and third quarter of 2023.

Home costs greater than doubled in Estonia, Hungary, Lithuania, Latvia, Austria, Czechia, and Luxembourg

Between 2010 and the third quarter of 2023, home costs elevated by 48% and rents by 22%.

When evaluating the third quarter of 2023 with 2010, home costs elevated greater than rents in 18 out of the 27 EU nations. 

Supply datasets: prc_hpi_a, prc_hpi_q, tipsho20, prc_hicp_aind, prc_hicp_midx

Over this era, home costs greater than tripled in Estonia (+210%) and greater than doubled in Hungary (+185%), Lithuania (+158%), Latvia (+141%), Austria (+123%), Czechia (+122%) and Luxembourg (+107%). Decreases have been noticed in Greece (-14%, see methodological notes), Italy (-8%) and Cyprus (-2%).

Rents elevated in 26 EU nations with the very best rises in Estonia (+218%), Lithuania (+170%) and Eire (+100%). The one lower in lease costs was recorded in Greece (-20%).