Real Estate Prices in Croatia Continue to Increase

By 6 April 2017

However, they are still substantially lower than several years ago.

According to new research conducted by Njuškalo listings website, conducted on a sample of 166,000 active listings in March 2017, real estate prices in Croatia continue to improve. However, they are still seven percent lower than in the same month of 2011, reports Večernji List on April 6, 2017.

Among the major towns in Croatia, prices have been growing the most in Split, Zadar and Zagreb. Rijeka is also showing signs of a slight recovery in prices for apartments, while Osijek continues with the stagnation of prices per a square metre.

Most counties have shown a decline in the average prices of real estate year-on-year, which is the most pronounced in continental part of the country, while prices in most counties in the coastal region continued to grow in March.

Međimurje Couty is one among few continental counties that have recorded for the second consecutive month a recovery in real estate prices on an annual basis. Prices are the highest in Dubrovnik-Neretva County, Split-Dalmatia County and Šibenik-Knin County.

In March 2017, among the largest towns in Croatia, not including their surroundings, the highest price per square metre was asked for properties in towns on the Adriatic coast – Dubrovnik, Split and Zadar. The lowest average asking price was recorded in Vukovar, which also had the largest drop in prices, by as much as 12 percent year-on-year. It is followed by Bjelovar with a drop of 8 percent year-on-year.

In Zagreb, the city district of Novi Zagreb - West recorded a growth rate of almost 12 percent compared to last year, and is now one of the ten most expensive neighbourhoods in the city. Prices are still the highest in the district Upper Town - Medveščak, followed by Lower Town, Maksimir, Trnje, Podsljeme and Trešnjevka - North. Average prices per square metre are the lowest in Brezovica and Sesvete districts.

When it comes to the interest of potential buyers for properties in Zagreb, most in demand are apartments between 60 and 70 square metres, at a price of 1,300 euros per square metre, in the neighbourhoods of the wider city centre. The majority of searches in March were conducted for properties in Lower Town, Trešnjevka, Maksimir, city centre and Jarun.

More than a thousand new listings for holiday homes were submitted in March, and this subcategory has recorded a significant growth of the number of searches since the beginning of the year. The prices of houses follow the trends in real estate prices in Croatia generally. The most expensive are, as expected, those in Dubrovnik-Neretva County, where the average price of a square metres of a holiday home is 2,505 euros.