If you have a surplus of real estate in Split, it might be the right time to put it on the market.
Behind Dubrovnik, Split is the most expensive city in Croatia when it comes to real estate. On an annual basis, Split has seen a rise in the price of apartments by square meter of almost 10 percent, while the annual growth in housing prices per square meter is 8 percent, reports Slobodna Dalmacija on April 3, 2018.
In particular, the average price for an apartment in February was 2563 euro per square meter, while for a house it was 2799 euro per square meter. These listings are from Njuškalo.hr, where almost 3,000 apartments and some 300 homes are sold in Split.
Orlanda Tomić, the co-owner of real estate agency “Tomić & Vuković”, gives her two cents.
“There are no apartments, and it is especially difficult to find a quality two-bedroom apartment at a price of less than 150,000 euro in Split. With the shortage of quality, today, some of the worst on the market that couldn’t sell for years have moved up in the ranks,” said Tomić.
As Martina Kuterevac of Njuškalo points out, this is particularly true in the Split real estate market, as the square meter for a house is almost 10 percent higher than the average square meter for an apartment. Split and Dubrovnik are the only cities in Croatia where the prices of a home are higher than the cost of apartments.
As far as the size of apartments is concerned, Njuškalo offers most between 60 and 80 square meters.
“Trends show an increasing demand for apartments in the centers of big cities in Croatia, so even in Split, compared to last year, there was a slightly smaller offer and a continuous rise in the price of square meters after almost three years,” says Kuterovac.
Although the annual growth in apartment prices in Split is almost 10 percent, the situation varies considerably across the neighborhoods.
“For example, in neighborhoods such as Dobri and Grad, there is a fall of nearly 2 percent over the year, while apartments in places like Firule, Lučac, Manuš and Gripe, the prices of apartments have risen by more than 10 percent,” according to Kuterovac.
These data on the mild decline in real estate prices in the center is in fact not unique – for the last decade, they have probably sold and “outsourced” everything possible, leaving no options in the center. On the other hand, the quality of life of the tenants in the city’s core succumbs to turmoil from the waves of tourists and the subordination of them only to them, not to mention the lack of parking, so much that people rarely wish to buy apartments in the center.
However, the owners of apartments in the Gradski Kotar neighborhood seek more than 3000 euro per square meter (precisely 3023 euro) making it the fifth most expensive neighborhood in the city. The most costly, as expected, is Meje, where the square meter is 3544 euro, followed by Firule (3371 euro), Bačvice (3127 euro), and Lučac (3122 euro). The cheapest apartments can be found on Brda (1653 euro).
While it may be a less attractive location with older buildings, Brda has good bus links, markets, schools and public kindergartens, playgrounds and better roads – essentially, everything that is missing in these “elite” quarters. Four more neighborhoods follow Brda in the northeastern part of Split, including Kocunar, Pujanke, Kman and Sućidar.
The data of the specialized real estate site Crozilla.com showed that during February, the most significant annual increase in apartment prices was recorded in Split where square meters were about 16 percent more expensive than in February 2017.
“Apart from the price hike, Split flats are in demand and at the very top of the scale. Namely, Crozilla.com data showed that, apart from the most sought after in Zagreb, most of the apartments for sale and rent during February were also in the Split area,” said Ivan Beljan from Crozilla.com.
A positive change in price has also been noted when it comes to land. According to Crozilla.com, for a square meter of construction land in Split-Dalmatia County, the asking price during February was 146 euro, which is an average of 3.5 percent more than in February 2017.
Average prices of apartments in € / m² for the largest cities in Croatia
– Dubrovnik 3374
– Split 2563 – Rovinj 2488
– Zadar 1898 – Zagreb 1803
– Rijeka 1469
The most expensive neighborhoods (prices of apartments in € / m²)
1. Meje – 3544
2. Firule – 3371
3. Bačvice – 3127
4. Lučac – 3122
5. City – 3023
Cheapest quarters (prices of apartments in € / m²)
1. Brda – 1653
2. Kocunar – 1733
3. Pujanke – 1738
4. Kman – 1809
5. Sućidar – 1871
Translated from Slobodna Dalmacija