Eurozone house prices decreased at a faster rate in the first quarter, data released by Eurostat showed on Thursday.
The house price index fell 2.2 percent year-on-year, following a 1.7 percent slump in the fourth quarter of 2012. Spain registered the biggest decrease with prices falling 12.8 percent. Portugal and the Netherlands followed with declines of 7.3 percent and 7.2 percent, respectively.
Quarter-on-quarter, euro area house prices dropped 1 percent, which was double the 0.5 percent fall seen in the final three months of last year.
In the EU, house prices were lower by 1.4 percent on an annual basis, following a 1 percent decrease in the previous quarter. Sequentially, prices dropped 0.6 percent, after a 0.5 percent fall in the fourth quarter.
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