Despite pandemic, Poland has 2nd fastest housing price growth in EU

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The price of housing in Poland has grown by 10.9 percent compared to 2019, the second highest annual growth rate in all of the European Union, according to data from Eurostat.

In the second quarter of 2020, the price of houses in the eurozone overall grew by five percent and by 5.2 percent in the entire EU compared to the second quarter of 2019. The price growth was measured using the House Price Index. In the first quarter of 2020, prices increased by 5.1 percent in the Eurozone and 5.6 percent in the EU as a whole.

The highest annual growth in prices for property in the second quarter was recorded in Luxembourg, where the price of houses increased by 13.3 percent. The second highest increase was seen in Poland at 10.9 percent. Slovakia came third with a 9.7 percent increase.

In some EU states, the price of houses decreased in over the course of the last year. According to Eurostat, compared to Q2 of 2019, the price of property in Hungary was cheaper by 5.6 percent in Q2 2020 and 2.9 percent cheaper in Cyprus.