Graph and download economic data for Residential Property Prices for Croatia (QHRN628BIS) from Q1 1997 to Q3 2024 about Croatia, residential, HPI, housing, price index, indexes, and price.

Housing Index in Croatia increased to 202.19 points in the third quarter of 2024 from 197.53 points in the second quarter of 2024. This dataset provides - Croatia Housing Index- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Key information about House Prices Growth

• Croatia house prices grew 1.8% YoY in Dec 2023, following an increase of 4.1% YoY in the previous half a year.
• YoY growth data is updated half a yearly, available from Jun 1996 to Dec 2023, with an average growth rate of 3.5%.
• House price data reached an all-time high of 25.8% in Dec 2007 and a record low of -12.6% in Jun 2010.

CEIC calculates Houses Price Growth from semiannual Average Price of New Dwellings per Square Meter. Croatian Bureau of Statistics provides Average Price of New Dwellings per Square Meter in EUR. Houses Price Growth prior to H1 2023 is calculated from Average Price of New Dwellings per Square Meter in local currency.

Residential Property Prices in Croatia increased 12.27 percent in September of 2024 over the same month in the previous year. This dataset includes a chart with historical data for Croatia Residential Property Prices.

Companies operating in the third-party real estate industry have had to navigate numerous economic headwinds in recent years, ranging from rising interest rates, spiralling inflation and muted economic growth. Revenue is projected to sink at a compound annual rate of 3.7% over the five years through 2024, including an estimated slump of 2.1% in 2024 to €196.2 billion, while the average industry profit margin is forecast to reach 34.6%. Amid spiralling inflation, central banks across Europe ratcheted up interest rates, resulting in borrowing costs skyrocketing in the two years through 2023. In residential markets, elevated mortgage rates combined with tightening credit conditions eventually ate into demand, inciting a drop in house prices. Rental markets performed well when house prices were elevated, being the cheaper alternative for cash-strapped buyers. However, even lessors felt the pinch of rising mortgage rates, forcing them to hoist rent to cover costs and pricing out potential buyers. This led to a slowdown in rental markets in 2023, weighing on revenue growth. Revenue is forecast to swell at a compound annual rate of 4% over the five years through 2029 to €238.7 billion. Following a correction during 2024, housing prices are set to being recovering in 2025 as fixed-rate mortgages begin to drop and economic uncertainty subsides, aiding revenue growth in the short term. Over the coming years, Proptech, which has been heavily invested in, will force estate agents to adapt, shaking up the traditional real estate industry. A notable application of Proptech is the use of AI and data analytics to predict a home’s future value.

Graph and download economic data for Harmonized Index of Consumer Prices: Actual Rentals for Housing for Croatia (CP0410HRM086NEST) from Jan 1998 to Feb 2025 about Croatia, harmonized, rent, CPI, housing, price index, indexes, and price.

In 2024, the average apartment rent in Croatia ranged between 13 and 29 euros per square meter. The county with the highest rents was Split-Dalmatia, where renting an apartment cost on average 29 euros per square meter. In Croatia, less than 10 percent of households lived in rented housing. Nevertheless, the rental market has been growing in recent years, with rent prices rising faster than the average in the euro area.

The total value of property claims paid on the insurance market in Croatia has fluctuated from 2008 to 2020. In 2020, the total value of property claims paid out by the insurance providers in Croatia amounted to approximately 130 million euros, which was also the highest value recorded. The lowest value of property claims paid on the insurance market in Croatia was in 2015, at 78 million euros.

The price of residential real estate increased in most countries in the European Union in the fourth quarter of 2023. Prices rose the most in Poland, Bulgaria, and Croatia. Nevertheless, many of the largest markets saw prices decline. In Germany, the house price index fell by 7.1 percent from the same period a year ago. According to the aggregate house price index for the EU, prices mostly stabilized after a brief drop in the second half of 2022.

Graph and download economic data for Harmonized Index of Consumer Prices: Services Related to Housing for Croatia (SERVHOHRM086NEST) from Jan 1998 to Jan 2025 about Croatia, harmonized, services, CPI, housing, price index, indexes, and price.

Croatia GDP: GVA: 1997p: Financial Intermediation and Real Estate data was reported at 6,040.000 HRK mn in Sep 2008. This records an increase from the previous number of 5,780.000 HRK mn for Jun 2008. Croatia GDP: GVA: 1997p: Financial Intermediation and Real Estate data is updated quarterly, averaging 4,198.000 HRK mn from Mar 1997 (Median) to Sep 2008, with 47 observations. The data reached an all-time high of 6,040.000 HRK mn in Sep 2008 and a record low of 3,552.000 HRK mn in Mar 1997. Croatia GDP: GVA: 1997p: Financial Intermediation and Real Estate data remains active status in CEIC and is reported by Croatian Bureau of Statistics. The data is categorized under Global Database’s Croatia – Table HR.A043: ESA 1995: GDP: by Industry: 1997 Price .

Among Central and Eastern European countries, Poland recorded the highest annual increases in residential property prices in the fourth quarter of 2023, with apartment prices increasing by 13 percent year-on-year. Bulgaria and Croatia followed. Only Czechia and Slovakia noted slight decreases in prices.

Portugal, Canada, and the United States were the countries with the highest house price to income ratio in 2023. In all three countries, the index exceeded 130 index points, while the average for all OECD countries stood at 117.5 index points. The index measures the development of housing affordability and is calculated by dividing nominal house price by nominal disposable income per head, with 2015 set as a base year when the index amounted to 100. An index value of 120, for example, would mean that house price growth has outpaced income growth by 20 percent since 2015. How have house prices worldwide changed since the COVID-19 pandemic? House prices started to rise gradually after the global financial crisis (2007–2008), but this trend accelerated with the pandemic. The countries with advanced economies, which usually have mature housing markets, experienced stronger growth than countries with emerging economies. Real house price growth (accounting for inflation) peaked in 2022 and has since lost some of the gain. Although, many countries experienced a decline in house prices, the global house price index shows that property prices in 2023 were still substantially higher than before COVID-19. Renting vs. buying In the past, house prices have grown faster than rents. However, the home affordability has been declining notably, with a direct impact on rental prices. As people struggle to buy a property of their own, they often turn to rental accommodation. This has resulted in a growing demand for rental apartments and soaring rental prices.

Graph and download economic data for Harmonized Index of Consumer Prices: Services for the Maintenance and Repair of the Dwelling for Croatia (CP0432HRM086NEST) from Jan 1998 to Feb 2025 about Croatia, repair, maintenance, harmonized, services, CPI, housing, price index, indexes, and price.

This statistic shows the revenue of the industry “real estate agencies“ in Croatia from 2012 to 2018, with a forecast to 2025. It is projected that the revenue of real estate agencies in Croatia will amount to approximately 107.99 million U.S. Dollars by 2025.

In July 2024, the average import price for bearing housings incorporating ball or roller bearings amounted to $17,456 per ton, jumping by 22% against the previous month.

Croatia - Harmonised index of consumer prices (HICP): Services related to housing was 132.46 points in January of 2025, according to the EUROSTAT. Trading Economics provides the current actual value, an historical data chart and related indicators for Croatia - Harmonised index of consumer prices (HICP): Services related to housing - last updated from the EUROSTAT on March of 2025. Historically, Croatia - Harmonised index of consumer prices (HICP): Services related to housing reached a record high of 132.46 points in January of 2025 and a record low of 49.48 points in January of 1998.

After three years of growth, the Croatian market for bearing housings incorporating ball or roller bearings decreased by -8.7% to $1.3M in 2024. Over the period under review, consumption, however, posted a prominent expansion. Bearing housing with ball bearing consumption peaked at $1.5M in 2023, and then dropped in the following year.

Croatia Price to Income Ratio: sa data was reported at 99.198 2015=100 in Sep 2024. This records an increase from the previous number of 95.560 2015=100 for Jun 2024. Croatia Price to Income Ratio: sa data is updated quarterly, averaging 103.251 2015=100 from Mar 2005 (Median) to Sep 2024, with 79 observations. The data reached an all-time high of 134.235 2015=100 in Sep 2008 and a record low of 94.385 2015=100 in Jun 2018. Croatia Price to Income Ratio: sa data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Croatia – Table HR.OECD.AHPI: House Price Index: Seasonally Adjusted: Non OECD Member: Quarterly. Nominal house prices divided by nominal disposable income per head. Net household disposable income is used. The population data come from the OECD national accounts database.

Graph and download economic data for Harmonized Index of Consumer Prices: Housing, Water, Electricity, Gas and Other Fuels for Croatia (CP0400HRM086NEST) from Jan 1998 to Feb 2025 about Croatia, water, fuels, electricity, harmonized, gas, CPI, housing, price index, indexes, and price.