European house prices fall for first time in a decade

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European house prices fell for the first time in a decade last year, as strong growth in the property markets of some eastern and southern countries was masked by declines in many northern EU states.

Residential property prices fell 0.3 per cent in the EU in 2023 and 1.1 per cent in the eurozone, according to data from Eurostat on Thursday.

Germany’s housing market was one of the worst hit with a decline of 8.4 per…