site.btaBulgaria Ranks Second in EU in House Price Increase in Q2 2023

In the second quarter of 2023, house prices in the EU increased by 0.3% compared with the first quarter of 2023, while rent increased by 0.7%, according to recent data from Eurostat made public on Tuesday.

Compared with the second quarter of 2022, house prices in the EU decreased by 1.1%, while rent increased by 3%. 

According to Eurostat’s preliminary estimates, house prices increased by 4.3% in the second quarter of 2023 compared with the first quarter of 2023, when they rose by 1.6%. This ranks Bulgaria second among the EU Member States in terms of the largest quarterly increase in house prices. Over this period, a bigger increase in prices was observed only in Latvia (+5.1%).

In the second quarter of 2023, Bulgarian housing increased by 10.7% on a year-on-year basis. During this period, only Croatia reported a more significant price increase among EU Member States, which amounted to 13.7%.