ZAGREB, 10 Jan (Hina) – Housing prices in Croatia increased on average by 2.4% in the third quarter of last year compared to the previous quarter, while on an annual basis, the growth rate accelerated to 12.3%, according to data from the Croatian Bureau of Statistics (DZS).

New housing units became 1.5% more expensive on average in the third quarter of 2024 compared to the second quarter. Compared to the third quarter of 2023, the prices of new builds rose by 4.4%, according to the DZS report published on Friday.

The prices of existing housing units increased by 2.5% on a quarterly basis and by 13.5% on an annual basis.

In the third quarter of 2024, compared to the second quarter of the same year, housing prices increased on average by 0.8% in the City of Zagreb, 3.4% along the Adriatic coast, and 5% in other regions.

On an annual basis, housing prices in Zagreb rose on average by 7.7%. Along the Adriatic, the increase was 15.9%, while in other regions, it reached 16.8%, according to the statistical data.

Croatia among EU countries with the highest price increases

Eurostat data on housing prices for the third quarter of last year, compared to the same period in 2023, show that Croatia recorded one of the highest growth rates in the European Union.

Among the EU member states for which data are available, housing prices fell in four countries in the third quarter of 2024 and rose in 22. The largest declines were recorded in France (3.5%), Finland (2.8%), and Luxembourg (1.7%), while the highest increases were noted in Bulgaria (16.5%), Poland (14.4%), Hungary (13.4%), Croatia (12.3%), and the Netherlands (10.3%).