Housing prices in Latvia rise faster than EU average
In the first quarter of this year, housing prices in Latvia increased by 10.9% compared to the same period last year, significantly outpacing the average growth in the European Union.
Housing Price Growth in Latvia
According to the latest Eurostat data, housing prices in Latvia rose by 10.9% year-on-year in the first quarter of this year. This growth is considerably faster than the EU average of 5.1% and the eurozone average of 4.7%.
Comparison with Other EU Countries
Even steeper annual increases were recorded in Portugal (+17.8%), Bulgaria (+14.8%), Slovakia (+14.4%), Lithuania (+11.9%), and Hungary (+11.2%). Estonia saw a 5.9% rise. Overall, housing prices increased in 25 EU member states for which data are available, while Finland was the only country to see a decline, with a 2% drop.
Quarterly Changes
Compared to the previous quarter, housing prices in Latvia rose by 1.2% in the first quarter, matching the EU average. The strongest quarterly growth was in Bulgaria (+6.2%), Portugal (+3.8%), and Slovakia (+3.6%). Estonia saw a 3.4% increase, Lithuania 3.3%. A quarterly price decline was observed in four countries: Belgium and Finland (both -0.8%), France (-0.6%), and Hungary (-0.5%).
