Real estate prices in Croatia are growing significantly more than in the rest of the EU: a record jump was recorded last year, here's how much the price of 'squares' has risen this year

In the second quarter, Croatia was among the group of European Union countries with the highest growth in real estate prices on an annual basis, significantly higher than the European average, a Eurostat report showed on Wednesday.

Residential property prices in the European Union rose 5.2 percent in the second quarter compared to the same period last year, Eurostat calculated.

As a result, their growth weakened slightly compared to the first three quarters of this year, when they jumped 5.6 percent, the strongest since the end of 2007.

In the eurozone, real estate prices rose by 5.0 percent. Their growth also weakened slightly compared to the first three quarters of this year, when, according to revised data, they jumped 5.1 percent, the strongest since the beginning of 2007.

Among EU countries, residential real estate prices rose the most, by 13.3 percent. They are followed by Poland with 10.9 percent, Slovakia with 9.7 percent and Croatia with 8.3 percent. In the first three months of this year, real estate prices in Croatia rose by 9.1 percent.

They jumped 10.4 percent in the second quarter of last year, the most since joining the EU.

In the second quarter, Hungary recorded a 7.4 percent year-on-year decline in residential property prices, according to a provisional estimate by Eurostat, Estonia, by 5.8 percent, Latvia, by 2.3 percent, Bulgaria, by 1.1 percent, and Ireland. , by 0.1 percent.

QUARTERLY GROWTH IN THE EU AND EURO AREA STRONGEST IN THE YEAR

Compared to the previous three months, residential property prices in the EU rose by 1.5 percent in the second quarter, the strongest since the second quarter of last year, according to Eurostat calculations.

In the first three months of this year, they rose 1.3 percent, according to revised data.

In the euro area, the growth of residential real estate prices accelerated strongly, to 1.7 percent, which is also the highest rate of their growth since the second quarter of 2019.

They rose 1.0 percent in the first quarter of this year, with Eurostat also slightly revising the first estimate.

Among EU countries, residential property prices rose the most in the period from April to June, by 4.4 percent compared to the first three months of this year. They are followed by Italy with a price increase of 3.1 percent, and Austria with 2.5 percent.

In Croatia, residential real estate prices rose 1.8 percent in the second quarter compared to the previous quarter, when they rose 2.7 percent.

Only Hungary, down 5.6 percent, according to a provisional Eurostat estimate, and Cyprus, down 5.6 percent, fell on a quarterly basis.

Source: Slobodna Dalmacija