Croatian Coastal Property Prices – Prices Falling in Dubrovnik?

Lauren Simmonds

Updated on:

Copyright Romulic and Stojcic
Dubrovnik, Croatia
Dubrovnik, Croatia

As Morski writes, Croatian coastal property prices have always been and continue to be far more expensive than house prices in the continental part of the country, and the market, depending on current trends at any given time, obviously fluctuates. While Croatian coastal property prices in the Dalmatian cities of Zadar and Split recorded a slight increase, in Rijeka apartment prices rose the most, and interestingly, down in the traditionally expensive Dubrovnik – they fell by up to 12 percent.

Per metre prices rising in Split

The largest Croatian coastal city and Croatia’s second largest city after Zagreb, Split, has been recording higher property prices for the past two years now, and the asking prices of houses still exceed the prices of apartments. From the beginning of 2019 until today, one square foot of a house in Split has risen by 4.93 percent and now averages 3,122 euros in total. Demanded apartment prices have risen by 6.85 percent over the past two years and now average 2987 euros per square metre.

However, in this period, there also were different price fluctuations. The highest prices of houses in Split were recorded back in September 2019 when the average asking price stood at 3209 euros per square metre, while apartments were the most expensive in February last year, when an average of 3016 euros per square metre was demanded.

In Zadar, there has been equal growth in price for both apartments and houses

Unlike Split, Zadar didn’t record any oscillations in terms of Croatian coastal property prices last year, and the growth trend in this city has remained stable for the past two years. In addition, in this city, the asking prices for apartments have increased by 5.86 percent since the beginning of 2019 and now the average demand for a square metre in a Zadar apartment stands at 2259 euros. House prices rose more or less equally, by 5.66 percent, and the current average asking price per square metre of a house is 1,577 euros.

Down in Dubrovnik, houses are up to 12 percent cheaper

Unlike Zagreb and Split, Dubrovnik, which is known for its eye-watering prices for both bowls of pasta and houses, has been recording a negative trend for the past two years. The asking prices of apartments today are 5.22 percent lower than they were back at the beginning of 2019 and average 3628 euros per square metre.

Houses in Dubrovnik also recorded a drop in price in the aforementioned period, by almost 12 percent. While at the beginning of 2019 the average asking price per square metre was a staggering 4666 euros, today it is 4117 euros.

In Rijeka, apartment prices rose the most

The fact that the enormous changes that have taken place in the last year haven’t affected the upward trend in apartment prices in Rijeka is clearly shown by the latest data from the beginning of this year, according to which the average price per square metre of 1780 euros is equal to a 16 percent increase when compared to how things stood back in January 2019.

At the same time, the prices of houses in Rijeka increased in that same period, and now the average price per square metre of a house is only 23 euros higher, amounting to 1473 euros.

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