Luxembourg had the second highest rise in housing prices in the EU27 when comparing the second quarter of 2020 to 2010.
Eurostat data published on Wednesday show that in the same timeframe, across the member states housing prices on average went up by 25%, while rents rose by 14.2%.
Topping the list for housing price hikes during that timespan was Estonia (100.5%), followed by Luxembourg, Latvia (+77.3%) and Austria (+75.9%). On the other hand, decreases were observed in only four countries, namely Greece (-31%), Italy (-13.2%), Spain (-5.6%) and Cyprus (-3%).
In its report, Eurostat added that although house prices and rents followed a similar path between 2010 and Q2 2011, this was no longer the case as of Q3 2011, which saw substantial fluctuations in housing prices while rents steadily rose.