Property markets booming across EU

Property prices across EU member states have grown by as much as 14% in the last year according to data released by Eurostat.

The data collected by the statistical office of the European Union compared Q1 2018 prices to the same period last year. Topping the growth list were Latvia (13.7%), Slovenia (13.4%), Ireland (12.3%) and Portugal (12.2%). Of 30 countries, just four recorded negative growth; Italy and Sweden at -0.4%, Norway at -1.1% and Finnish property prices dropping slightly by 0.1%.

UK house price growth stood at 4.4%, slightly behind the EU average of 4.7% and the Euro area average of 4.5%.

Compared to Q4 2017, prices in the EU increased 0.7% with averages across the Euro area boosted by 0.6%.

Dublin ranks amongst top performing EU cities

property market dublin

Data released by Savills earlier this year recorded Dublin as the second-fastest price growth city in the EU, topped only by Amsterdam, as a result of low supply and growing demand.

Read more: Manchester ranked as the best city to be a landlord in the UK

Propping the high-performing cities list was Brussels with 4.3% growth last year, followed by Berlin (6.5%), Paris (8.3%), Dublin (12.3%) and then Amsterdam (20.9%).

Despite coming in seventh on the list, London still offers the most expensive market, averaging £740 per square foot compared to £165 in Brussels, £630 in Paris and £270 in Berlin.