European House Prices in 2026: Where Costs Are Rising Fastest - and Where They Are Not

The Broad EU Picture

According to Eurostat, house prices across the European Union rose 5.1% in Q1 2026 compared with the same quarter a year earlier. Across the euro area, the increase was 4.7% over the same period.

That overall figure covers all residential property types - flats, detached houses, terraced houses and others - whether newly built or existing. Of the EU countries for which Eurostat data are available, 25 recorded annual price increases in Q1 2026 and 1 recorded a decrease.

For anyone weighing up a move for work, the national-level spread matters as much as the EU average.

Countries Where Prices Are Rising the Fastest

Among countries with available data, three recorded by far the largest annual increases in Q1 2026:

• Portugal: +17.8%
• Bulgaria: +14.8%
• Slovakia: +14.4%

The momentum in those markets also showed up in the quarter-on-quarter comparison. Bulgaria led with +6.2%, followed by Portugal at +3.8% and Slovakia at +3.6%. Across the EU as a whole, 22 countries saw prices rise on a quarterly basis.

Looking at Q1 2026 against the full-year 2025 average, Portugal again recorded the largest gain (+10.3%), followed by Bulgaria (+9.4%) and Slovakia (+9.1%).

Countries Where Prices Are Flat or Falling

Finland was the only EU country where house prices fell on an annual basis in Q1 2026.

Comparing Q1 2026 with the 2025 annual average, Finland saw prices fall 1.8% and France recorded a smaller decline of 0.5%. Those were the only two countries in the available data where prices moved downward over that period.

On a quarterly basis, 4 countries saw prices fall in Q1 2026: Belgium and Finland both recorded -0.8%, France -0.6% and Hungary -0.5%.

In 2025, house prices grew more slowly than consumer price inflation in 6 EU countries: France, Luxembourg, Austria, Romania, Finland and Sweden.

How Rents Are Moving

Rents tell a different story than purchase prices, and for those relocating for work, both matter.

Between the 2025 annual average and Q1 2026, house prices across the EU rose 2.9% while rents rose 1.8% over the same period. In 19 out of 26 EU countries with available data, house prices outpaced rents.

Rent increases varied sharply by country. Croatia recorded the steepest rise at +21.9%, followed by Bulgaria at +6.4%. At the other end, rents in Slovenia fell 0.9%, while Finland saw no change.

The Longer Context

The current growth phase follows a period of correction. EU house price growth peaked at +10.7% on an annual basis in Q1 2022 before declining sharply. By Q2 2023 the annual rate had turned negative. Since 2024, prices have risen again, reaching 5.1% for the EU and 4.7% for the euro area in Q1 2026.

In real terms - after accounting for consumer price inflation - EU house prices rose 3.1% above inflation in 2025. That follows a steep real-terms decline: in 2023, deflated house prices fell by 6.9% on an annual basis.

All figures are sourced from Eurostat's House Price Index. Data are not available for all EU countries in every period referenced here.