House prices across euro area countries rose by 9.4% on an annual basis in the final three months of 2021, according to Eurostat.
This compares to an annual rate of 8.8% in the third quarter.
The comparable figures for the 27 countries in the European Union were 10% in the fourth quarter of 2021 compared to 9.3% in the third quarter.
This is the highest annual rate across the euro area since 2005, which is when Eurostat first began compiling house price data across member states.
15 countries, including Ireland, showed growth rates above 10%. Cyprus was the only member state where prices fell, by 5.3%.
The highest increases were recorded in Czechia (+25.8%), Estonia (+20.4%) and Lithuania (+19.8%).
Prices in Ireland rose by 13.9% in the fourth quarter of last year compared to a rate of 10.6% in the third quarter.
Eurostat also compared house price and rental costs over time.
It found that house prices in the EU fell in the aftermath of the financial crisis between 2011 and 2013. They were stable until 2014 and then from early 2015 there was a "rapid rise" in prices.
Eurostat noted that house prices have risen faster than rents since.
On average across the EU, when comparing the fourth quarter of 2021 to 2010, house prices have risen by 42% while rents have risen by 16%.
However, in Ireland, rents jumped by 74% over the same period. This was the third highest rate in the EU and compares to an increase in house prices over the same period of just under 50%.
The highest increases in prices were recorded in Estonia (+156%), Hungary (+128%) and Luxembourg (+124%). Decreases were recorded in Greece (-23%), Italy (-12%) and Cyprus (-9%).
Increases in rents were highest in Estonia (+171%), Lithuania (+113%) and Ireland (+74%).
