Housing prices in Europe are rising: where apartments have become more expensive in 2026

In the second quarter of 2026, housing in the EU became 4.7% more expensive year-on-year, while in Portugal it increased by 16.5%. Prices rose faster than inflation in many countries, but in some states the market went down. In Spain, high prices did not stop Ukrainians from buying housing. This was reported by Euronews with reference to Eurostat data.

Where housing prices grew the fastest in the second quarter of 2026

The largest annual increase among 29 European countries was recorded in Portugal at 16.5%, followed by Bulgaria with 15.5% and Lithuania with 14.3%. Slovakia, Croatia, Spain, Romania, Latvia, and Hungary also noted significant increases.

In Denmark, prices increased by 9.4%, in Slovenia by 9.1%, and in the Czech Republic by 8.6%. Poland showed a growth of 6.3%. For comparison, overall in the EU, housing prices rose by 4.7%, while inflation was 3.2%.

The dynamics are influenced by the scarcity of supply, household incomes, mortgage rates, and demand. Expert Mikk Kalmet from Global Property Guide explained to Euronews that in Portugal the demand exceeds supply, particularly in Lisbon, Porto, and popular coastal areas. In Sofia, prices are supported by rising incomes and demand for real estate as an investment.

In which European countries have housing prices decreased

In Finland, housing became 2.7% cheaper year-on-year, in Luxembourg by 2.2%, and in France by 0.8%. Among the reasons are slower economic growth, buyer caution, and the impact of high mortgage rates. In Germany, prices increased only by 0.6%, and in Italy by 4%.

Taking inflation into account, the real price growth in the EU was 1.5%. In Portugal, this figure reached 12.1%. Conversely, in Luxembourg, real prices fell by 6.4%, in France by 3.2%, and in Germany by 2%.

The European market does not move according to a single script: a lack of housing and active demand raise prices in some countries, while a weak economy and expensive loans hold them back in others. The high cost also complicates purchases: for example, in Prague, people save for years for an apartment. The differences between national markets and the availability of housing are also illustrated by the comparison of prices in Ukraine and Poland.