Croatia still leads in property prices in the EU

(Patria) - Croatia maintained its position in the second quarter as the EU country with the biggest jump in housing prices, data from the European statistical office showed today.

In the eurozone, residential properties were 1.7 percent cheaper in the second quarter than in the same period last year, and in the EU by 1.1 percent, statisticians calculated.

Housing prices fell in both areas for the first time since the beginning of 2014, Eurostat notes.

In the first quarter, they had increased by 0.4 percent in the eurozone and by 0.8 percent in the EU.

According to Eurostat's available data, housing space in Croatia became the most expensive in the period from April to June, by 13.7 percent compared to the same period last year, after a 14 percent jump in the first quarter.

Bulgaria and Lithuania follow with a growth in property prices in the second quarter of 10.7 and 9.4 percent, respectively.

Housing space became cheaper in nine countries, most notably in Germany (9.9 percent) and Denmark (7.9 percent). Eurostat did not have data for Greece.

Compared to the previous quarter, housing prices in the eurozone almost stagnated in the period from April to June, and in the EU they increased by 0.3 percent. At the beginning of the year, they fell by 0.9 percent in the eurozone and by 0.7 percent in the EU.

Residential properties became most expensive on a quarterly basis in Latvia and Bulgaria, by 5.1 and 4.3 percent, respectively.

Estonia follows with an increase in housing prices of 3.8 percent. Croatia is also in this group with a growth in residential property prices in the period from April to June of 3.5 percent compared to the previous quarter when they increased by 2.0 percent.

Poland is also close, with an increase in housing prices in the second quarter of 3.2 percent, Hina reports.

However, residential property prices fell the most compared to the previous quarter in Slovakia (3.9 percent). Luxembourg follows, where they became cheaper by 2.7 percent, according to Eurostat data.