SE Europe Real Estate News – 29/06/24

SE Europe Real Estate News


Luxury real estate brand Christie’s International Real Estate has made an expansion into Albania. The launch brings Christie’s International Real Estate’s client service and international reach to the region through a new venture, The Maranda Real Estate Group/Christie’s International Real Estate. In recent years, Albania’s luxury property market has accelerated sharply, with homes in the capital of Tirana and coastal resort areas commanding prices up to USD$5 million, and condominiums fetching USD$4,000 to $5,000 per square meter at the high end.


The number of building permits issued in Bosnia and Herzegovina last month stood at 446, up 7.7% on an annual basis, the statistical office said. Breaking down the types of projects, 296 permits covered buildings, whereas 150 were issued for civil engineering works. Based on the number of issued permits, a total of 797 new dwellings have been planned for construction, an increase of 33.1% y-o-y.


Croatia’ s residential market is expected to show an annual growth rate (CAGR 2024-2028) of 3.03%, resulting in a market volume of US$284.00bn by 2028, according to Statista. The demand for luxury coastal properties in Croatia is increasing, driven by the country’s stunning Adriatic coastline and booming tourism industry.


During the period January – March 2024, 1.876 building permits were issued compared to 1.816 in the corresponding period of the previous year, recording an increase of 3,3%. The total value of these permits increased by 13,2% and the total area by 12,2%. The number of dwelling units recorded an increase of 20,7%, according to CySTAT. Building permits constitute a leading indicator of future activity in the construction sector.

(Source: CyStat)


The Total Building Activity (private-public) in Greece, in March 2024 which is calculated on the basis of the number of issued building permits, amounted to 3,756. This figure corresponds to 873,036 m2 of surface and 3,285,556 m3 of volume, reflecting, respectively, a 39.8% increase in the number of building permits, a 34.8% increase in surface and an 11.2% increase in volume, compared with the corresponding month of 2023, the Hellenic Statistical Authority (ESTAT) data showed.


To read about Romania’s real estate click here


The real estate market is slowly stabilizing in Serbia as Russians and Ukrainians are less interested. “Prices of apartments and houses have fallen significantly compared to last year’s peak in October-November. Depending on the parts of Belgrade, prices fell by up to 30%”, interlocutors from one Belgrade real estate agency told EURACTIV.