House prices in Croatia up 10.9% y-o-y, highest increase in EU

In the third quarter of 2023, house prices increased 0.3% on the quarter and 10.9% on the year, the Croatian Bureau of Statistics said on Wednesday, while Eurostat data shows that the annual rise in Croatia was the highest in the EU.

In Q3 2023, new dwellings were 2.5% more expensive on the quarter and 12.3% on the year, while existing dwellings’ prices were 0.1% lower quarter on quarter and 10.6% higher year on year.

In Q3 2023, house prices in Zagreb were 2.4% higher than in Q2, while they were lower by 1.4% along the coast and by 1.9% elsewhere. Year on year, house prices in Zagreb were 12.1% higher, those on the coast were 8.2% higher and those elsewhere were 16.5% higher.

Per Eurostat, Croatia registered the highest annual increase in house prices in the EU in Q3 2023, followed by Poland (+9.3%) and Bulgaria (+9.2%). Year on year, house prices in Q3 2023 fell by 1% in the EU and by 2.1% in the euro area.