The rise in prices of residential real estate in the EU and the euro zone eased significantly in Q3 2022. At the same time, while the increases slowed down in Croatia as well, the country still remains above the European average in terms of price rise, the state news platform Hina said on Tuesday, citing a publicly available report compiled by Eurostat.

Year-on-year, residential real estate prices in the EU in Q3 2022 increased by 7.4 percent, after a revised 9.8 percent jump in Q2 2022, according to Eurostat. In the euro zone, the prices in July-September increased by 6.8 percent, after a 9.2 percent increase in the period from April to June.

The only EU country which saw a drop in real estate prices was Denmark, which recorded a 2.4 percent drop. Estonia had the highest jump, by 27.4 percent. The Czech Republic and Hungary followed with price jumps of 23.1 percent and 22.8 percent respectively. Lithuania was also close, with a 22.1 percent jump.

House prices went up the most in Estonia (+24.2 percent), Hungary (+21 percent) and Lithuania (+19.3 percent). House prices in Croatia increased by 14.8 percent year-on-year. The lowest increase was recorded in Sweden (+1.1 percent)

Quarter-on-quarter real estate prices in the EU and in the euro zone increased by 0.9 percent. Prices rose on a quarterly basis in all EU countries, with the highest increase in Cyprus, by 5.8 percent. It was followed by Bulgaria and Austria, where prices increased by 4.0 percent and 4.1 percent respectively.

In Croatia, the prices of residential real estate in the period from July to September increased by 2.8 percent compared to the second quarter, when they jumped by 3.7 percent compared to the first quarter.