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In Q3 2021, house prices in the European Union were on average 9.2 percent up on the same quarter one year previously. The Netherlands recorded the sharpest increase after the Czech Republic (22.0 percent), Lithuania (18.9 percent) and Estonia (17.3 percent). In all countries of the EU, house prices went up. The increase exceeded 10 percent in half of these countries.

House price index, Q3 2021
Czech Republic 22.0
Lithuania 18.9
Estonia 17.3
Netherlands 16.8
Iceland 13.7
Luxembourg 13.4
Slovenia 12.9
Austria 12.9
Latvia 12.7
Hungary 12.6
Germany 12.0
Sweden 11.3
Ireland 10.6
Denmark 10.3
Portugal 9.9
European Union 9.2
Croatia 9.0
Poland 8.9
Norway 8.9
Bulgaria 8.7
Belgium 8.2
Slovakia 8.0
France 7.1
Romania 5.9
Malta 5.9
Finland 5.0
Italy 4.2
Spain 4.2
Cyprus 2.2
Source: CBS, Eurostat

House price growth larger and larger

The house price index includes transaction prices of both new and existing owner-occupied dwellings. At 16.8 percent, the price increase for owner-occupied dwellings was once again larger than in the previous quarter. This has been the case for six consecutive quarters. The average transaction price of new-build homes was 12.4 percent higher. Existing owner-occupied houses were on average 17.5 percent more expensive, representing the largest year-on-year increase in almost 21 years.

Price development of owner-occupied dwellings
2017 Q1 6.8 6.1
2017 Q2 7.7 6.3
2017 Q3 7.6 6.2
2017 Q4 8.2 10.2
2018 Q1 9.0 11.5
2018 Q2 8.8 11.7
2018 Q3 9.2 16.3
2018 Q4 9.0 10.2
2019 Q1 7.9 9.5
2019 Q2 7.2 16.0
2019 Q3 6.3 6.3
2019 Q4 6.2 8.7
2020 Q1 6.6 4.6
2020 Q2 7.5 4.2
2020 Q3 8.1 10.2
2020 Q4 8.8 8.7
2021 Q1 10.3 16.8
2021 Q2 13.0 13.1
2021 Q3 17.5 12.4
Source: CBS, Kadaster

Record number of new-build transactions

In Q3 2021, altogether 8,036 newly constructed dwellings were sold. This is the highest number of new-build transactions in a third quarter since measurements started in 2015. During the first nine months of 2021, a total of 23,621 new-build homes were sold. This was also the highest number over this period since the start of measurements.

New-build transactions
2021 6792 8793 8036
2020 6521 8001 7084 10740
2019 5745 6370 5818 6998
2018 6151 7068 6153 8757
2017 6789 7535 6722 10161
2016 5569 6840 6550 8779
2015 5031 6651 6350 8353
Source: CBS, Kadaster

The figures on new-build dwellings presented in this news release are provisional and subject to revision.

Source of original article: Statistics Netherlands (CBS) (www.cbs.nl).
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