It seems that Zagreb real estate market has gained momentum – the demand for apartments is higher than the supply.
According to Poslovni.hr, that there are more potential buyers than there are apartments in the City of Zagreb.
According to Crozilla.com, the average asking price for Zagreb’s apartments in July has increased in value compared to the same periods in 2015 and 2016.
The biggest annual change was recorded in Novi Zagreb neighbourhood, where the advertised prices in July were 6.4 percent higher than in July 2016, with an average asking price of EUR 1,349 per metre square.
The smallest changes were recorded in the western part of Zagreb – in July they were 2.9 percent higher than in July 2016. The average asking price was EUR 1,513 per square metre.
In the eastern part of the city, the annual prices rose by 4 percent, averaging at EUR 1,576 per square meter in July. Apart from the rise in apartment prices, there was a noticeable rise in demand in this part of Zagreb.
Apartments in the city centre the most popular
Data from Crozilla.com showed that the average advertised apartment price in the centre of Zagreb amounted to EUR 1,991 per square metre, which is 5.8 per cent higher than the same period last year.
When it comes to demand, the centre remains the most popular part of town for apartment buyers.
It’s not news that apartments in Zagreb are more popular than in other cities and, in addition to housing, people have recently started purchasing and renovating apartments to turn them into daily rental accommodation units – which many local and foreign tourists are interested in.
Bruno Babić, head of the “Apartments in the Centre of Zagreb” network said that a market saturation is visible in Zagreb: “In 2013, there were 250 units.Today there are 3,000 and the number keeps growing.”
Babić says the centre is attractive to visitors who don’t have a car, while nearby neighbourhoods are interesting if there is free parking.” Apart from foreign tourists, we have locals who want to experience Christmas in Zagreb, concerts, festivals, etc., there are also businesspeople, as well as visitors coming here for health tourism,” Babić told Crozilla.com.
Small, modern family houses more popular than traditional bigger ones
The average advertised prices of Zagreb houses in July dropped when it comes to monthly rates, but they still remain slightly higher than in July 2016. According to the data provided by Crozilla.com, the average house price, yard included, was EUR 1,207 per metre square, which is 1.4 percent lower than in June 2017, but 2.9 percent higher than in July 2016.
“Many traditional family houses, most often the multi-storey kind, which used to be popular in the past, are sold in Zagreb area. However, the demand for these types of houses is now very low,” Ivana Čikić of Dom ekspert d.o.o. said for Crozilla.com, adding that the most popular houses are the smaller, modern types of houses, which the market lacks.
Translated from Poslovni.hr.
