THE CASE PRICE MAP IN ITALY AND THE REST OF THE EU
Based on the data published by Eurostat, it is possible to show the variation in house prices in European Union countries from 2006 to 2017. The analysis also focuses on the comparison between the EU and Italy, the only member of the Union where in the last year there was a further decline in housing values.
The decline in house prices in the Union began in 2009 after a series of generalized increases. A decline of 4.4%, followed by two years (2010 and 2011) characterized by a tendential stability. Prices return to rise in 2014 (+ 1.6%) and 2015 (+ 2.7%), while in the last two years the increase has been around 4%.
In Italy, according to Eurostat, the downward trend in house prices starts in 2012 when it is -2.5%, followed by -6.5 (2013), -4.7 (2014), -3.8 (2015) ), 0.0 (2016) and -0.8% (2017). The last year our country registers the only negative sign in the European panorama. Positive changes in the rest of the member countries, led by Iceland (+ 19.5%), the Czech Republic (11.7%), Ireland (10.9%) and Portugal (9.2%).
House prices in the first quarter of 2018
The first data for 2018, ie those of the first quarter, seem to confirm this trend. In the euro area, values in the first part of the year grew by 4.7% in the EU and by 4.5% in the euro area, compared to the same period last year. On a cyclical basis, then in comparison to the fourth quarter of last year, the price of homes grew by 0.6% in the euro area and 0.7% in the EU.
The highest increase in annual terms was recorded in Lithuania (+ 13.7%), Slovenia (+ 13.4%), Ireland (+ 12.3%) and Portugal (+ 12.2%), while values decreased in Sweden and Italy (both -0.4%) and to a lesser extent in Finland (-0.1%).
Eurostat confirms the data of the Italian National Institute of Statistics.
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