SE Europe Real Estate News – 12/09/24

SE Europe Real Estate News

CROATIA

The overall value of real estate sold in Croatia in 2023 reached 9.1 billion euro, up 6.2% compared to 2022, according to the Institute of Economics Zagreb (EIZ). The transactions for sale and purchase of real estate were equal to 12% of the gross domestic product reported for 2023, compared to 13% in 2022 and 14% in 2021, the think tank said in its annual report. Last year, dwellings had the highest share in the overall value of sales of real estate in the country (39.2%), followed by land plots for construction purposes (21.9%) and family houses (18.4%).

CYPRUS

The 50 priciest property transactions across Cyprus stood at €55.7 million in July, according to Ask Wire. The real estate analytics firm said that the data, sourced from the Cyprus Land Registry, highlights a clear preference for residential properties among the top ten sales, which collectively totaled €27.2 million.

GREECE

House sale prices in Attica region grew by 88% since 2017 and up to Q2 2024, the Bank of Greece data revealed. Second-quarter growth was 9.1%, up from 9.5% in Q1 2024 and 13.8% overall in 2023. In the northern city of Thessaloniki prices in Q2 2024 are up 12.1%, while in Q1 2024 the increase was 12.8% and in 2023 at 16.5%. In the other major cities, the price increase was 7.3%, while in the rest of Greece it was 10.4%.

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MONTENEGRO

In Q2 2024, the number of building permits issued in Montenegro fell to 55 from 68 in the prior-year period and from 99 in Q1 2024, the country’s statistical office said. In 2023, the number of building permits issued decreased to 358 from 368 in 2022.

NORTH MACEDONIA

The number of building permits issued in North Macedonia totaled 374 in July, increasing by 33.6% on an annual basis, the country’s statistical office said. Of the total number of issued building permits, 207 (55.3%) are for buildings, 75 (20.1%) are for civil engineering structures, and 92 (24.6%) are for reconstructions. Of the total of 374 structures, for 200 (53.5%) the investors are private persons, and for 174 (46.5%) structures the investors are business entities.

ROMANIA

In H1 2024, a total 25,936 housing units were put into use in Romania, fewer by 6,141 units (-19%) than in the same period a year ago, data from the National Institute of Statistics showed. On an annual basis, Ddecreases were observed in all regions: Bucureşti–Ilfov (-2193 housing units), Sud–Est (-1494), Centru (-926), Nord–Est (-779), Sud-Muntenia (-370), Vest
(-222), Sud–Vest Oltenia (-106) and Nord–Vest (-51).

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