Pula Apartment Prices Shoot Up by as Much as 70 Percent!

As Poslovni Dnevnik writes, s fully furnished apartment in the attic of an Austro-Hungarian building spanning 48.57 square metres in Stoja (Pula) is currently for sale for 135,000 euros. At that price, it means that a single square metre of an apartment in Stoja costs a whopping 2,779 euros. A two-room apartment in the Sijana area spanning 75 square metres in a building built back in 2008 is being sold for 200,000 euros or, if it’s easier for people to calculare in the old way – for one and a half million kuna.

There are also Pula apartment prices coming in at 2,666 euros per square metre, and the brand new residential area under development in Marina Veruda offers luxury apartments with a swimming pool, where a one-room apartment on the ground floor spanning 51.41 square metres on a turnkey basis, costs a massive 289,181 euros.

There are even some where the price per square metre will cost a buyer as much as 5,624 euros. A resident of Pula can hardly afford that even if they held a position in any one of the top paying local companies, but the location above Marina Veruda is probably not intended for locals. It’s more than likely aimed primarily at foreign buyers who are perhaps more affluent, and who will be able to get from their yacht to their apartment easily, or rent it out while aboard their yacht, writes local portal The Voice of Istria/Glas Istre.

In a way, this is a picture of the Croatian real estate market as it currently stands, which, judging by the prices per square metre, is almost entirely intended for a buyer from Western and Central Europe, but not for a Pula local, who simply doesn’t take home that sort of cash each month or year.

“Regardless of the interest rates, Pula apartment prices have jumped so much that our customers can’t keep up with them,” explained Sergio Ricchiuto, the owner of the Pula-based real estate agency Immobilia Nekretnine/Property, who has been in the business for more than forty years now. He says he doesn’t know why square metres in Pula have become so expensive recently.

”The media claims that the prices went up by about 10 to 20 percent, which isn’t quite the case because the prices of some properties jumped from 50 to 70 percent, depending on their location. For our locals, especially young people and young married couples who are thinking of buying an apartment, it becomes mission impossible because at these prices they simply can’t afford it regardless of the current interest rate, which is a small item compared to the price,” Ricchiuto concluded.

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