Good news for buyers? Prices drop in Germany, France and more.

Homeowners across Europe are facing uncertain times as house prices take a dip. New data from Eurostat, the EU’s official statistics agency, reveals that house prices across the euro area fell by 0.4% in the first three months of 2024.

This downward trend follows a larger drop of 1.2% in the last quarter of 2023.

Where are prices falling the most?

Looking across the continent, some countries stand out with particularly large drops in house prices:

• Luxembourg takes the lead with a significant decrease of 10.9%
• Germany follows closely behind, with prices down by 5.7%
• France also experienced a notable fall, with prices down 4.8%

What about those rising prices?

While many countries saw falling prices, it wasn’t all downwards trends. Some countries bucked the trend and experienced significant price increases:

• Poland takes the crown for the largest increase, with an 18% jump in house prices.
• Bulgaria isn’t far behind, recording a 16% surge
• Lithuania witnessed a healthy 9.9% increase

What does this mean for you?

Whether you’re a seasoned homeowner or a first-time buyer, these figures are important to understand. Here’s the takeaway:

For Sellers: It’s crucial to stay informed about market trends in your area. While some areas might see price dips, others might remain stable or even experience growth.

For Buyers: This could be a window of opportunity! Falling prices in certain countries might make it a good time to grab your dream home for less.

Keep an eye out for future updates on the ever-changing housing market.