SE Europe Real Estate News – 03/10/24

SE Europe Real Estate News

BULGARIA

Bulgaria posted the EU’s second-highest annual increase in house prices in the second quarter of 2024, at 15.1%, according to Eurostat, the statistical office of the European Union. The largest increase was recorded in Poland (+17.7%) while the largest fall was registered in Luxembourg (-8.3%).

CROATIA

Croatia posted the EU’s fourth-largest annual increase in house prices in the second quarter of 2024, at 10%, according to Eurostat. On a quarterly comparison basis, Croatia marked the largest house price growth in the EU at 4.3%, the bloc’s statistical office said.

CYPRUS

The most expensive real estate transaction in August was a €5.4 million house in Ayios Tychonas, Limassol, according to real estate analytics firm Ask Wire. The city on the southern coast of Cyprus led the way in the island’s high-value real estate transactions, contributing significantly to the total of €20.9 million in sales across Cyprus.

GREECE

Greece has announced a one-year ban on new short-term rental licenses in three central Athens districts, effective from January 1, 2025. In addition to the ban, Greece will raise the daily tax on such holiday lets from €1,5 to €8 during the peak tourist season from April to October, and from €0,5 to €2 in the winter months.

Read more about Greek real estate here

ROMANIA

Bucharest office space occupancy costs grew by around 10% in the past two years amid the rising building operational costs and the indexing of rents against inflation, according to data provided by real estate consultancy Cushman & Wakefield Echinox.

Read more about Romania’s real estate here


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