CROATIA
In July, the number of building permits issued in Croatia grew by 19.4% on an annual basis to 924, the country’s statistical office said. Building permits in Croatia averaged 765.57 Units from 2010 until 2024, reaching an all time high of 1211.00 Units in March of 2023 and a record low of 377.00 Units in January of 2015.
CYPRUS
Foreign investors in Cyprus are increasingly turning their attention from luxury properties to more affordable housing, prioritizing residency permits over citizenship, a 2023 report from real estate firm Danos reveals. Luxury property sales, particularly those exceeding €1.5 million, witnessed a sharp drop in 2023, indicating a downturn in the premium segment of the market. The trend is expected to continue into 2024.
GREECE
Property buyers from abroad are this year opting for larger and more expensive holiday homes in Greece, Kathimerini reported citing data by the Elxis – At Home estate agency. The average value of homes sold in 2024 is 378,500 euros, being 27.8% higher than in 2023, and 44% higher than in 2022. Elxis expects holiday home sale prices to continue to strengthen in the coming years, at an average annual rate of 8-10%.
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ROMANIA
In H1 2024, leasing activity in the Bucharest office market witnessed new demand rising by 7% on an annual basis, reaching 64,000 sqm, while total demand slightly fell to 160,000 sqm, a Colliers’ report on real estate market developments for the first six months of this year showed. Contract renewals accounted for roughly 50% of transactions, amid uncertainty over hybrid work.
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SERBIA
In H1 2024, the average price of dwellings in new residential buildings in Serbia increased by 0.8% to 215,481 dinars (1,840 euro) per square metre, the country’s statistical office said. Average area of sold dwellings of new construction was 54 m2. Observed by municipalities, the highest prices of new construction dwellings were recorded in Belgrade municipalities, where average prices in urban settlements fell by 2.3% in relation to the first half of 2023.
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