Quarterly housing price drop in Latvia greatest in EU

Take note – story published 8 years ago

The price of housing in Latvia has dropped by 5.8 percent in the first quarter of 2015, comparing with the same period last year. It is the highest drop in housing prices seen in the EU, according to Eurostat data. In comparison with the previous quarter, they grew by 0.8 percent.

Only six member states saw housing price decreases. The runner-ups Italy and France saw prices drop by 3.3 and 1.6 percent respectively.

Overall, housing prices grew by 2.5 percent in the EU on a year-to-year basis.

Meanwhile, the price of goods and services related to housing - that is, actually owning a house - have increased by 4.8 percent since last year.

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