Amount of Croatian Property Purchases Made in Cash Rising

Lauren Simmonds

croatian property purchases

June the 30th, 2024 – The number of Croatian property purchases made in cash is on the up, with “rich foreigners” allegedly to blame.

As Poslovni Dnevnik writes, an insight into the statistics according to the value of property across the country shows that the sale of apartments with a value of 2,000 to 4,000 euros per square metre fell the most. However, the number of the most expensive apartments sold increased. The number of Croatian property purchases carried out in cash is also growing, while the number of apartments bought with loans is dropping. Spatial Planning minister Branko Bačić claims that rich foreigners are to blame, as reported by N1.

“A large number of Croatian properties have been bought by foreigners. In this way, it has raised the price of real estate owing to the greater demand. There has been a lot of Croatian property purchases made in cash. As a rule, it has been foreigners making these cash transactions. On the third hand, there was indeed an increase in the price of works, services and goods on the construction market in general,” claimed the Deputy Prime Minister and Minister of Spatial Planning, Branko Bačić.

The state is preparing an answer to this issue called the National Housing Policy Plan, which will be presented this summer. This is because they have finally received all the necessary information from the Statistical Office.

“That concept couldn’t actually be fully completed until we received the data that we are now analysing, implementing and which form the basis for our National Housing Policy Plan. I will tell you now, we’ll present it before the summer, that is, before August the 5th, and before the government goes on its two-week break,” revealed the minister.

The state can help this situation, but stabilisation of the property market will depend mostly on those who are selling real estate, it was concluded.


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