ECONOMY FINANCE&BANKING

Romania, Hungary, Austria top Q1, 2016 increases in house prices in EU

House prices in Romania went up 3.3 percent in Q1, 2016 from the previous quarter, the third highest increase in the European Union, according to data released on Tuesday by the Eurostat statistics office of the EU.
Compared with the fourth quarter of 2015, house prices rose by 0.4 percent in the euro area and by 0.7 percent in the EU in the first quarter of 2016.
The highest increases were recorded in Hungary (+5.2 percent), Austria (+4.2 percent) and Romania (+3.3 percent), and the largest decreases in Cyprus (-3.4 percent) and Malta (-2.8 percent).
House prices in Romania in the first three months of 2016 were up 2.6 percent y-o-y, while in the European Union they were up 4 percent and 3 percent in the Eurozone.
Among the member states for which data are available, the highest annual increases in house prices in the first quarter of 2016 were recorded in Hungary (+15.2 percent), Austria (+13.4 percent) and Sweden (+12.5 percent), while falls were observed in Italy and Cyprus (both -1.2 percent).

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