Data released by the People’s Bank of the Republic of Macedonia indicates that apartment prices experienced a 13.3 percent increase in the second quarter compared to the corresponding period in the previous year. This figure highlights a noticeable deceleration in the rate of growth for real estate prices. The deceleration trend is evident when comparing the second quarter to the first quarter.
During the first quarter of the current year, the year-on-year growth rate for real estate prices was recorded at 16.6 percent. This suggests a moderating pace of appreciation across the property market. Examining the broader picture reveals significant shifts across the year.
Over the first two quarters combined, the year-on-year increase in apartment prices surpassed 19.5 percent. Conversely, the growth observed during the second two quarters exceeded 25 percent, indicating a higher rate of price escalation in the latter half of the year compared to the first. It is important to note that the specific apartment price index utilized for this analysis is restricted to the territory of Skopje city.
Furthermore, the index calculation is based exclusively on reported sale prices, providing a targeted measure of the local housing market dynamics. These figures provide insight into how property prices have evolved across different quarters of the past year.
Topics: #year #prices #quarter
