Property Prices in Croatia Continue to Increase

Lauren Simmonds

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Property prices in Croatia are a popular talking point, and just as with everything else in the country, there are usually huge variations depending upon the area of the country you choose.

Dubrovnik is well known for its extortionate property prices, with Split also quickly following suit, with Zagreb and the capital city’s surroundings not yet in the same range, but being quickly on the rise.

As Poslovni Dnevnik writes on the 1st of November, 2018, despite the country’s ever-concerning demographic crisis and the steady flow of emigration of Croatia’s often very talented youth, coupled with more stringent lending standards, the general demand for apartments and other types of homes isn’t decreasing, yet. For example, apartment prices in Zagreb are already close to the formerly historically high levels they were at around ten years ago when it was far from abnormal to pay over 2,000 euros per square metre for a relatively average apartment in an older building in the city.

While real estate prices continue to rise only very slightly throughout the European Union as a whole, the increase in property prices in Croatia compared to the EU average is, probably surprisingly to some, rather striking. Property prices in Croatia rose by an impressive 8.5 percent in the first quarter of this year when compared to the growth seen during the same period last year. In the last quarter of 2017, prices rose by 7.6 percent, according to a report by tportal.

Njuškalo conducted its monthly survey back in September this year, and the results quite clearly show that apartment prices in Croatia rose by 7.13 percent year-on-year, and house prices grew slightly more than four percent.

The most expensive apartments can be found, rather unsurprisingly, in Croatia’s southernmost city, Dubrovnik, where the average market price is about 3,811 euros per square metre, in Split, prices stand at 2,744 euros per square metre, while the average in the capital city of Zagreb, while steadily on the up, remains significantly lower, at 1,917 euros per square metre.

The popular Dalmatian city of Zadar stands out in terms of growth, and the average square metre in an apartment increased by 12 percent, and is now generally sold at 2,075 euros.

Want to find out more about property prices in Croatia, business, investments and the general state of play of Croatia’s domestic economy? Make sure to follow our business page.


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