Croatia Remains at the Top of the EU for Housing Price Increases

In the second quarter, Croatia maintained its position as the EU country with the largest jump in housing prices, according to data from the European Statistical Office released on Tuesday.

In the eurozone, housing properties were 1.7 percent cheaper in the second quarter compared to the same period last year, while in the EU, they were down by 1.1 percent, statisticians calculated.

Housing prices fell in both areas for the first time since early 2014, notes Eurostat. In the first quarter, they had increased by 0.4 percent in the eurozone and by 0.8 percent in the EU.

The most significant increase in housing prices from April to June, according to available Eurostat data, occurred in Croatia, with a rise of 13.7 percent compared to the same period last year, following a 14 percent jump in the first quarter.

Bulgaria and Lithuania followed with increases in property prices in the second quarter of 10.7 and 9.4 percent, respectively. Housing prices decreased in nine countries, with the largest drops in Germany, by 9.9 percent, and Denmark, by 7.9 percent. Eurostat did not have data for Greece.

Croatia Alongside Estonia and Poland

Compared to the previous quarter, housing prices in the eurozone were nearly stagnant from April to June, while in the EU, they rose by 0.3 percent.

At the beginning of the year, they fell by 0.9 percent in the eurozone and by 0.7 percent in the EU. The largest quarterly increases in housing prices were recorded in Latvia and Bulgaria, by 5.1 and 4.3 percent, respectively. Estonia follows with a rise in housing prices of 3.8 percent.

Croatia is also in this group, with an increase in housing prices from April to June of 3.5 percent compared to the previous quarter when they rose by 2.0 percent. Poland is close behind with a 3.2 percent increase in housing prices in the second quarter.

Conversely, the largest decreases in housing prices compared to the previous quarter were in Slovakia, by 3.9 percent. Luxembourg follows with a decrease of 2.7 percent, according to Eurostat data.