ZAGREB, October 7, 2019 – In the second quarter of 2019, Croatia was among EU countries with the most marked increases in housing prices compared to the same period of 2018, and those price increases were more than two times higher than the European average, show figures released by the European statistical office Eurostat on Monday.
Prices in Croatia grew 10.4% in Q2 compared to Q2 2018. The growth of house prices thus picked up year-on-year, after a 7.4% increase in the first three months of 2019.
A more marked increase in housing prices was reported also by Hungary, +14%, and Luxembourg, +11.4%. In Portugal, housing prices grew by 10.1%.
According to available data, a year-on-year decrease in prices was reported only by Italy, of 0.2%.
Housing prices, as measured by the House Price Index, rose by 4.2% in both the euro area and the EU in the second quarter of 2019 compared with the same quarter of the previous year.
Compared with the previous quarter, prices increased in all member states for which the data were available. The highest increases were recorded in Latvia (+5.6%), Luxembourg (+5.1%) and Cyprus (+4.2%).
In Croatia, prices in Q2 grew by 2.6% compared to Q1, when they went up 3.5%.
None of the countries reported a quarterly decrease in prices.
At the EU level, housing prices in Q2 grew by 1.6% from Q1, when they grew by 0.4% according to revised data.
The quarterly increase in prices was even faster in the euro area, of 1.7%, as against a 0.3% increase in Q1.
More real estate news can be found in the Business section.
