APARTMENT PRICES IN THE EU AND THE EUROZONE INCREASED GREATLY, IN CROATIA MORE THAN THE AVERAGE

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The prices of apartments in the EU and the Eurozone increased strongly, but in Croatia their growth was above the European average, according to the report of the European statistical institute, Eurostat.

On an annual basis, real estate prices in the EU increased by 10.5 percent in the first three months of this year, the highest since the end of 2006. At the end of 2021, they increased by 10.1 percent.

In the Eurozone, prices jumped 9.8 percent in the first quarter, the strongest since Eurostat began publishing data in 2005. In the last quarter of last year, they increased by 9.4 percent.

All EU countries whose data were available to Eurostat recorded annual price growth in the first quarter, in 17 of them the growth rate was double-digit.

Residential real estate in the Czech Republic rose in price by 24.7 percent. Followed by Estonia with 21 percent and Hungary with 20.6 percent.

In Croatia, residential real estate prices in the first quarter of this year were 13.5 percent higher than in the same period last year. In the previous quarter, they grew by 9.1 percent on an annual basis.

Cyprus had the most modest price increase, 1.1 percent. Finland and Italy follow, where real estate prices rose by 4.3 and 4.6 percent, respectively. Eurostat did not have data for Greece.

Acceleration in Croatia

The three-month comparison shows a stable increase in prices in the EU in the period from January to March, by 2.1 percent.

In the Eurozone, growth slowed slightly, from 1.9 percent in the last three months of last year to 1.7 percent at the beginning of the year, writes B92 Biz.

All member states had a price increase at the quarterly level, and the strongest was in Estonia, where they jumped by 7.1 percent. Hungary and Bulgaria follow, with real estate prices rising by 6.7 and 5.2 percent, respectively, according to hrportfolio.hr.

In Croatia, the prices of residential real estate in the first quarter of this year increased by five percent compared to the last quarter of 2021, when they increased by 2.5 percent.

The mildest growth in real estate prices on a quarterly basis is in Malta, by 0.4 percent. Cyprus and Germany follow, where they increased by 0.5 and 0.8 percent, respectively.

Source: hrportfolio.hr