Real Estate Prices in Croatia Recover Slightly in January

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As usual, Zagreb and coastal areas are the most sought-after.

Real estate prices in January in Croatia have recovered slightly compared to the same month last year and to December 2016, according to a new study conducted on a sample of 164,000 active ads on Njuškalo website in January 2017, reports Večernji List on February 2, 2017.

Prices of apartments have recorded a recovery year-on-year mostly due to the price growth of apartments in Zagreb and Split. However, they are still six percent lower than they were in January 2011. Among the largest towns in Croatia, prices of apartments are growing most rapidly in Split and Zagreb. Rijeka has also shown a slight recovery in prices for apartments, while stagnation in Osijek continues. The increase in prices of apartment has been seen in Zadar and Pula as well.

As for counties, most of them still show a decrease in the average prices of real estate on an annual basis, which is most prominent in the continental part of Croatia, while prices in most counties in the coastal region in January continued with the recovery. Međimurje is one of few continental counties which have recorded a recovery in real estate prices on an annual and monthly level for two months in a row.

An analysis of individual neighbourhoods in Zagreb shows that prices vary widely and can range from the lowest average price in Brezovica (920 euros per square metre for an apartment), to the Gornji Grad – Medveščak neighbourhood, with an average price of 2,120 euros per square metre for an apartment and 2,211 euros per square metre of family house. The greatest demand for apartments is in Trešnjevka – South neighbourhood, especially for apartments between 60 and 70 square meters, in the range from 600,000 to 700,000 kuna.

In January 2017, the highest price per square metre was paid for properties in towns on the Adriatic coast – Dubrovnik, Split and Zadar. The lowest average price of real estate continues to be found in Vukovar, where the average price of a square metre is 426 euros. Among largest towns in Croatia, the largest drop in real estate prices was recorded in Vukovar, with a drop of 14 percent year-on-year, and Bjelovar, with a drop of 6 percent.

Dubrovnik is still the most expensive town with an annual growth in real estate prices by ten percent, followed by Opatija and Hvar.


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