Hungary recorded the strongest growth
Hungary reached the highest House Price Index value in 2025, with prices more than tripling compared with 2015.
House prices across Europe
Housing market growth, regional differences and recent corrections
House prices are one of the most visible economic indicators for households, investors and policymakers. This page tracks the House Price Index across European countries from 2016 to 2025, using Eurostat annual data where 2015 equals 100.
The time series shows how residential property prices changed over the past decade. Values above 100 indicate prices above their 2015 level, while higher values show stronger cumulative growth. The latest map and table provide a snapshot of where house prices have risen most sharply and where growth has been more limited.
Explore the data
Key insights
Central and Eastern Europe saw rapid increases
Hungary, Lithuania, Bulgaria, Czechia, Croatia and Estonia recorded some of the strongest house price increases since 2016.
Some markets corrected after 2022
Luxembourg, Finland, Germany, Sweden and France recorded lower 2025 values than their recent peaks.
Key comparisons
Selected highlights from the Eurostat House Price Index dataset, 2016–2025. The index is set to 2015 = 100.
Extended analysis
1) House price growth differs sharply across Europe
The latest data show large differences in cumulative house price growth. In 2025, the highest House Price Index values were recorded in Hungary (366.6), Portugal (263.9), Iceland (263.1), Lithuania (258.1) and Bulgaria (249.2).
At the other end of the ranking, the lowest 2025 values were recorded in Finland (98.9), Italy (116.2), France (127.3), Sweden (133.4) and Belgium (144.9).
2) The fastest increases came from Central and Eastern Europe
Between 2016 and 2025, the largest index-point increases were recorded in Hungary (+253.2), Portugal (+156.7), Iceland (+153.3), Lithuania (+152.7), Bulgaria (+142.2) and Czechia (+138.2).
This pattern highlights how rapidly housing markets changed in several countries where prices were still relatively low compared with older high-price markets. In many cases, strong income growth, urban demand, mortgage conditions and investment activity contributed to faster price increases.
3) Percentage growth tells a similar story
The strongest percentage growth between 2016 and 2025 was also recorded in Hungary (+223.3%), followed by Portugal (+146.3%), Lithuania (+144.9%), Iceland (+139.7%) and Bulgaria (+132.9%).
Because the index is anchored to 2015, these values show cumulative house price growth rather than yearly inflation. A value of 200 means that prices are roughly twice their 2015 level.
4) Several markets cooled after recent peaks
Not all countries reached their highest value in 2025. The largest decline from peak to 2025 was recorded in Luxembourg (-23.5 index points), followed by Finland (-12.7), Germany (-11.4), Sweden (-5.8) and France (-4.5).
These declines show that the post-2022 period did not affect all markets in the same way. Some countries continued to rise, while others experienced corrections after earlier price peaks.
5) Stability differs as much as growth
Volatility also varies strongly across countries. Measured by standard deviation over 2016–2025, the most volatile paths were recorded in Hungary (79.4), Lithuania (51.3), Iceland (50.9), Portugal (47.9) and Czechia (46.3).
The most stable house price paths were recorded in Finland (3.8), Italy (5.9), Sweden (10.1), France (11.0) and Belgium (14.5).
How to read this indicator
The House Price Index measures changes in residential property prices, including both newly built and existing dwellings. Values are indexed to 2015 = 100. A value of 150 means that prices are 50% higher than in 2015, while a value below 100 means that prices are below their 2015 level. The indicator tracks price changes, not housing affordability. Affordability also depends on income, interest rates, rents, taxation and household costs. Comparable data were not available for Liechtenstein, Greece and Switzerland in the dataset used here.