Ѕоfіа hаѕ ѕееn а dесlіnе іn thе numbеr оf residential trаnѕасtіоnѕ fоr a thіrd соnѕесutіvе quаrtеr. According to the latest data from the National Statistical Institute for the first quarter of the year, property sales in the capital shrank annually by 12.2% and reached 6381.

High inflation and rising interest rates seem to have bitten in overall consumption. And although Serbia is likely to avoid recession in the short run, its real GDP growth is estimated to be a moderate 2%-4% this year and next with a downside risk being the looming recession in the EU. The rental housing market has been supported by the Russian and Ukrainian citizens settling down in Serbia, keeping rent rates high. Housing construction is still strong and although the volumes in building construction are already consolidating, big infrastructure projects could sustain civil engineering on all-high levels in the mid-term, according to Dejan Krajinović (Beobuild Core d.o.o.) at EECFA which conducts research on the construction markets of 8 Eastern-European countries, including Serbia.

In Q4 2022, Hungarian residential property prices fell by 3.6% compared to the previous quarter. The Central Bank of Hungary (MNB) reports the sharpest decline was seen in smaller municipalities.

Crestyl has unveiled its new residential project. The project will be built next to the vast Šárka Nature Park in Prague 6 on the site of the current Šárka Business Park industrial and logistics complex (former Aritma). The new free-access residential area with park areas will include 18 villas with a total of 224 apartments, six family houses near the border with the forest land, a kindergarten and premises for services and shops. The architectural and urban design of the buildings and public spaces emphasises the connection with the nearby forest. The project received final planning permission in February this year. Construction of the first phase, which will include 108 apartments, is scheduled to start next year. The total investment will exceed four billion crowns (€170.15 million).

Analysts from Bencont Investments have calculated that the first quarter of 2023 in Bratislava's newly-built residential market will be in a similar spirit as the second half of 2022, writes sita.sk.

The average price of older flats in the Czech Republic fell by nine percent year-on-year to CZK 82,351 per sqm (€3,510 per sqm), which brought an overall increase in sales by two-thirds compared to the previous year. However, Prague has seen the fewest sales of older apartments in four years. According to ČTK and HN.cz, this is the result of a study by the real estate group European Housing Services (EHS), which uses data from its founding members, Bezrealitky and Maxima Reality.

The frozen Czech residential real estate market experienced a minor shake-up when developer Central Group put fifty new apartments on the market in Prague's Harfa at a big discount. According to the developer, they were sold out in a few hours. The price was CZK 100,000 (€4,250) per sqm, a quarter cheaper than is usual in the locality and a third cheaper than the Prague average, writes Hn.cz.

The latest data from Q1 2023 show a recovery of the new flats market in Prague. Quarter-on-quarter, sales increased by almost a fifth. The mortgage market, which has also seen a rally in recent months, but also the return of investors, will have an impact on further developments. Neither offer nor sale prices have changed significantly compared to the previous period. This is mainly due to persistently high construction costs, slow permitting of new construction and temporary postponement of some planned projects, according to the market analysis of development companies Trigema, Skanska and Central Group.

UBM Development Czechia has launched the construction and sale of Timber Prague apartments. The first wooden multi-storey apartment buildings in modern history are being built in Prague. Timber Praha is being developed within the Arcus City residential complex and offers 62 apartment units in modern multi-storey wooden buildings made of solid wood panels, UBM announced.

Echo Investment's residential business will be integrated into Archicom in order to create a nationwide developer with bigger growth potential, synergies and a wider market presence. The change will clarify the structure of the Group, where Archicom will be the residential part and Echo Investment will focus on growing the commercial and PRS segments, as well as on creating mixed-use ‘destination’ projects.