On an annual basis, real estate prices in the EU rose by 10.5 percent in the first three months of this year, the highest since the end of 2006. At the end of 2021, they increased by 10.1 percent.
In the eurozone, prices jumped 9.8 percent in the first quarter, the strongest since Eurostat began publishing data in 2005. In the last quarter of last year, they increased by 9.4 percent.
All EU countries whose data were available to Eurostat recorded annual price growth in the first quarter, in 17 of them the growth rate was double-digit.
The price of residential real estate in the Czech Republic rose by 24.7 percent. Followed by Estonia with 21 percent and Hungary with 20.6 percent.
In Croatia, residential real estate prices in the first quarter of this year were 13.5 percent higher than in the same period last year. In the previous quarter, they grew by 9.1 percent on an annual basis.
The most modest price growth was recorded in Cyprus, by 1.1 percent. Finland and Italy followed, where real estate prices rose by 4.3 and 4.6 percent, respectively.
Eurostat did not have data for Greece
Acceleration in Croatia
The three-month comparison shows a stable growth of prices in the EU in the period from January to March, by 2.1 percent.
In the Eurozone, growth slowed slightly, from 1.9 percent in the last three months of last year to 1.7 percent at the beginning of the year.
All member states recorded price growth at the quarterly level, and the strongest was in Estonia, where they jumped by 7.1 percent. Hungary and Bulgaria follow, with real estate prices growing at the quarterly level by 6.7 and 5.2 percent, respectively.
In Croatia, the prices of residential real estate in the first quarter of this year increased by five percent compared to the last quarter of 2021, when they increased by 2.5 percent.
The mildest growth in real estate prices on a quarterly basis was recorded in Malta, by 0.4 percent. Cyprus and Germany follow, where they increased by 0.5 and 0.8 percent, respectively.