Bulgaria Ranks Second in EU for Housing Price Growth: Eurostat Report

According to the European statistical office Eurostat, housing prices, measured by the House Price Index, increased by 0.2 % in the EU during the fourth quarter of 2023 compared to the same quarter of the previous year. However, in the euro area, they decreased by 1.1 %. This marks a continuation of the trend observed in the third quarter, where prices fell by 1.1 %and 2.2 %, respectively.

Compared to the third quarter of 2023, housing prices declined by 0.3 %in the EU and by 0.7 % in the euro area.

Exploring the data of individual member states, eight reported a yearly decline in housing prices, with Luxembourg, Germany, and Finland experiencing the most significant drops. Conversely, eighteen countries reported an increase, with Poland, Bulgaria, and Croatia leading in growth.

Comparing prices to the previous quarter, eleven member countries witnessed decreases, while one remained stable, and fourteen saw increases. The biggest declines were in France, Latvia, Denmark, and Sweden, while Poland, Croatia, and Ireland experienced significant growth.

In Bulgaria, alongside the yearly surge of 10.1 %, there's also a quarterly uptick of 1.2 %. Comparatively, during the third quarter, the annual growth rate was 9.2 %, accompanied by a quarterly rise of 2.7 %.

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