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1/31/13

European Housing Market: Dutch house price drop third biggest in EU since crisis began

Spain and Ireland are the only two countries in Europe where house prices have fallen more sharply than in the Netherlands over the past four years, according to Dutch national statistics agency CBS.

After reaching a peak in 2008, Dutch and Spanish house prices have been going down every year, but in Europe as a whole, prices have stabilised, the CBS told news agency ANP. The drop in Spain is around 7% a year, in the Netherlands 4%.

New figures from European statistics office Eurostat on Thursday show house prices across the EU went down an average 2.5% in the third quarter of last year, compared with the year-earlier period.

The drop in the Netherlands was 8.7%, in Spain 15% and Ireland almost 10%. By contrast, house prices in Norway and Estonia rose nearly 8.5%.

Read more: DutchNews.nl - Dutch house price drop third biggest in EU since crisis began

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