Zagreb Property Prices: Pandemic and Earthquake Failed to Deal Blow

Lauren Simmonds

Updated on:

Copyright Romulic and Stojcic
Zagreb, Croatia
Zagreb, Croatia

As Poslovni Dnevnik/Marija Crnjak writes, contrary to most previous expectations, the coronavirus crisis and the Zagreb earthquake of March 2020 failed to bring down Zagreb property prices, according to a market analysis which looked into the last two years of Njuskalo’s advertisement of properties in the capital.

Zagreb has been recording almost the same increase in asking prices for apartments at the beginning of 2021 as it did during the same period one year ago, just as it recorded the same back at the beginning of 2020, before both the coronavirus pandemic and the earthquake struck.

From the beginning of 2019 until today, the asking prices for apartments in Zagreb have increased by as much as 8.73 percent, and the same trend with a slightly smaller growth (8.36 percent) was recorded in requested house prices. The average price for apartments is now 2,159.25 euros per square metre, and 1,368.75 euros per square metre for houses.

The earthquake-affected city centre is, however, still recording a negative trend. The asking prices of apartments in Donji Grad reached their peak back in March 2020, when the average demand for a square metre stood at 2,666.41 euros, while at the beginning of this year that figure was 2,567.70 euros, falling by 100 euros per square metre.

With the exception of the very centre, the average asking prices of apartments currently exceed 2200 euros per square metre in Tresnjevka North (2201.97 euros) and Trnje (2281.25 euros).

Asking prices of apartments of more than 2,000 euros per square metre at the beginning of the year were recorded by the Maksimir (2,186.49 euros) and Tresnjevka South (2,120 euros).

The lowest average asking prices of apartments are currently in Brezovica (1212.63 euros) and Sesvete (1456.58 euros). Split has also recorded higher real estate prices for the past two years.

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