Latest statistics on Croatia’s real estate market.
In the fourth quarter of 2016, Croatia was among the EU countries with the largest decline in house prices on a quarterly basis. At the same time the average prices in the EU increased, according to a report of the European Statistical Office, reports tportal.hr on April 8, 2017.
In Croatia, the index of house prices fell in the fourth quarter of last year by 0.6 percent compared to the previous three months, when it rose by 1.0 percent, according to Eurostat. This made Croatia, according to available data, one of the EU countries with the largest drop in house prices on a quarterly basis, according to Eurostat, which noted that the biggest drop in prices was recorded in Denmark (by 1.5 percent). Another country with a large fall in prices was Belgium (0.4 percent).
The largest increase in the fourth quarter of last year, compared to the previous three months, was recorded in Malta (by 6 percent), in the Czech Republic (4.7 percent), and Cyprus (3.1 percent), the report said.
At the level of the EU and the eurozone, house prices increased in the last three months of last year by 0.8 percent. Their growth accelerated compared to the previous three months when the prices in the EU increased by 1.4 percent, and in the euro area by 1.3 percent.
On the annual level, average house prices in Croatia in the fourth quarter of last year rose by 0.8 percent, after a 1.4 percent growth in the third quarter.
All EU countries recorded growth in house prices on an annual basis with the exception of Italy, where prices were almost unchanged compared to the same period the year before. The largest increases were recorded in the Czech Republic (by 11 percent), Hungary (9.7 percent), and Lithuania (9.5 percent).
At the EU level, house prices increased year-on-year in the fourth quarter of last year by 4.7 percent compared to the same period last year, which was the strongest increase since the end of 2007 and the financial crisis associated with the collapse of the US real estate market. In the third quarter, prices in the EU increased by 4.2 percent.
In the eurozone, prices in the fourth quarter of last year jumped by 4.1 percent, which was the strongest increase since the third quarter of 2007. In the third quarter of last year, prices increased by 3.4 percent year-on-year, reported Eurostat.
