Croatia Above EU Average in Housing Price Growth

In Croatia in the first quarter of 2020, housing prices increased by 9.1 compared to the same period last year, which is a stronger growth than the Union average, according to the latest data from the European statistical office.  

On an annual basis, property prices in the EU and the eurozone increased by 5.5 and five percent, respectively, in the first quarter of this year. In the previous quarter, they rose by 4.9 percent in the EU and 4.5 percent in the eurozone.

Among EU countries, the strongest annual price increase was recorded in Luxembourg, at 14 percent. This is followed by Slovakia with 13.1 percent, Estonia with 11.5 percent, Poland with 11.3 percent, and Portugal with 10.3 percent.

In Croatia, housing prices in the first quarter of this year were 9.1 percent higher than in the same period last year. In the previous quarter, prices increased 10 percent on an annual basis.

The only country where housing prices fell on an annual basis in the first quarter was Hungary, with a decrease of 1.2 percent.

Price Growth Compared to the Last Quarter of Last Year

In the first quarter of 2020, housing prices in the EU increased by 1.2 percent compared to the last three months of 2019. In the eurozone, prices rose by 0.9 percent compared to the previous quarter.

Among the EU countries for which Eurostat had data, the strongest quarterly price growth was recorded in Portugal, at 4.9 percent. This is followed by Estonia and Slovakia, at 4.8 and four percent, respectively.

In Croatia, housing prices in the first quarter of this year increased by 2.7 percent compared to the last quarter of 2019.

The largest quarterly price drop was recorded in Malta, at 4.3 percent. This is followed by Hungary with a decrease of 1.1, Ireland with a decrease of 0.8 percent, and Belgium with a 0.1 percent drop.

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