In 13 out of 16 member states of the European Union, a decline in the number of housing transactions is reported in 2023, according to Eurostat data. The trend continues for the second year in a row.
The drop in sales in Luxembourg is most noticeable - 43.3%. The second place goes to Austria - 26.4%, and the third position is shared by Hungary and Finland with a decrease of 24.5% each.
Bulgaria is also in the group of countries where contraction is reported. The decrease in transactions was 3.8% with 89,880 transactions completed against a growth of 5.9% or 93,416 concluded transactions in 2022.
At the other end of the ranking are Cyprus, where a 31% growth in sales is observed for 2023. The TOP 3 also includes Poland with an increase in transactions of 3.9% and Ireland - with an increase of 0.6%.
Comparing the latest data with those from 2022, 2 years ago there was a decline in housing transactions in 10 out of 16 EU member states. Then it was the largest in Denmark - 24.8%, and the largest growth was in Cyprus - 27.4%.
You can see detailed statistics on average property prices in Bulgaria by cities and neighborhoods HERE