SE Europe Real Estate News – 10/07/24

SE Europe Real Estate News


Bulgaria’s construction output increased by 4.5% in May on an annual basis, after growing by a revised 3% in April, the National Statistical Institute (NSI) said in a regular report. On a seasonally-adjusted monthly comparison basis, total production in the construction sector went up by 1.1% in May.


In Q1 2024, the prices of dwellings in Croatia increased on average by 9.1% y-o-y, the Croatian Bureau of Statistics said in a quarterly report. The prices of new dwellings grew by 6.2% while prices of existing dwellings rose 9.5%. In Zagreb, prices of dwellings increased by 8.8% on average, 8.9% on the Adriatic coast and 10.8% in other regions of the country.


In 2023, Cyprus recorded the largest increase (+31.0%) in housing transactions among EU countries, according to data released by the European Union’s statistical office (Eurostat). In contrast, the number of housing transactions decreased in 13 out of the 16 EU countries for which data are available, compared with 2022. This marks the second consecutive year that the majority of reporting countries have registered drops in sales.


In Q1 2024, the contribution of the real estate market as a percentage of all foreign investments reached 43.3%, as out of a total of €1.2 billion that flowed into the Greek economy, €520 million concerned the country’s property market, according to data from the Bank of Greece.


To read about Romania’s real estate market click here.


Serbia’s Delta Real Estate, part of Delta Holding, said it launched an offer to buy all the shares it does not already own in Bosnia and Herzegovina’s peer Standard Nekretnine. Delta Real Estate is a leading regional real estate company in Serbia and the region with a highperforming portfolio of retail, hotel, office buildings and mixed-use properties.


In Q1 2024, the prices of commercial real estate, i.e. retail premises and offices together, were higher by 11.5% q-o-q, the Statistic office of Slovenia said. The increase in the price of retail and service premises (by 13.5%) as well as offices (by 10.0%) contributed to the overall price increase.

(Source: Eurostat)