Housing markets in Central, Eastern and Southeastern Europe (CESEE) visibly cooled down in the first half of 2023. The nominal annual growth of house prices (GDP-weighted average) moderated to around 6% in the first and 4% in the second quarter of 2023, compared to full-year growth of more than...

In the CESEE EU countries2, macroeconomic fundamentals3 were generally supportive for housing markets in 2023 and early 2024, which is partly reflected in dynamic house price growth across the region. Several key factors contributed to this positive trend. Consumer confidence, labor markets and...