Rental Rates in Zagreb Skyrocket Due to Tourism Boom

Total Croatia News

More tourists mean fewer apartment available for everybody else.

In the centre of Zagreb, there are almost no apartments available for long-term rentals, since most flats are now offered as short-term rentals for tourists, who are visiting the Croatian capital in record-breaking numbers, reports Novi List on November 28, 2017.

When four years ago a small, 30 square metre apartment in the Trešnjevka neighbourhood was offered for rental, the owned received 20 phone calls during the first day. A few weeks ago, the apartment was offered once again, but this time as many as a hundred people called in the first 24 hours. Many were willing to pay even more than what the owner was asking for, six months in advance and, which was the biggest shock, without even checking out the apartment, said the owner.

In the broader Zagreb city centre, there are almost no apartments available for long-term rentals. Everything has been turned into short-term rentals for tourists, who are visiting the Croatian capital more and more. This has led to a rise in the price of monthly rents, even for less attractive flats, which have not been turned over into tourist accommodation. More luxurious units with a decent monthly rent can only be found on the periphery of the city and in outer suburbs. Renting a 40 square metre apartment to tourists, at the cost of 40-50 euros a day, brings about 400 euros in just ten days, which is the same as renting the apartment for a full month.

“I posted my ad on the web an hour ago, and four people have already called me. You are the fifth,” says another owner, who posted an ad for long-term rental of a 35 square meter apartment in the city centre. The price is 2,000 kunas per month, but she is thinking about raising it because the interest is high.

The owner of the small apartment in Trešnjevka rented her flat on the first day after the ad was posted. The student who hired it told her she would take it immediately, without even checking it out. She complained that the demand was so high that some apartment owners invited a dozen people to come to inspect their apartment at the same time and then let them bid who will offer more.

A student from Osijek confirmed that, while looking for an apartment in Zagreb, he only saw terrible options. The only available flats are places where you would not want to live. The demand is high, while the offer is weak. A small 25 square metre apartment in poor condition costs as much as 300 euros per month, the student said.

Translated from Novi List.


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