Real Estate Prices Down 10% in Croatia

The price of property in Croatia in the first quarter of 2014 has fallen 9.7% compared with the same quarter last year, according to Eurostat data…

The drop in price over the last 12 months is the greatest of all the EU countries. On an EU level, house prices rose 1% in the first quarter of the year, the first rise since the middle of 2011. Real Estate prices in Croatia have been on a downward spiral since the start of 2012, with the only period of growth, albeit just 0.2%, recorded in the last quarter of 2013. Prices in Croatia fell by double-digit numbers, with the biggest fall,
19.6%, in the second quarter of 2013.

Behind Croatia’s fall in prices of 9.7% is Slovenia where prices fell 6.6% in the first quarter of this year, followed by Cyprus (-5.7%). The biggest rise in prices was recorded in Estonia, where prices rose 17.5% in the first quarter of 2014 compared to the same period last year.