Saturday, 5 June 2021

Foreigners Bought Almost One in Two Properties in Istria in 2020

ZAGREB, 5 June 2021 - In 2020, the year of the pandemic and two devastating earthquakes, almost 32,000 properties were sold in Croatia, only 3,000 less than in 2019, and the fall mainly occurred along the coast, while almost one in two properties in Istria was bought by foreigners, Večernji List daily said on Saturday.

The highest number of flats, about 12,000, was sold in the City of Zagreb and Zagreb County, followed by a little over 10,000 properties sold in the coastal counties and a little over 9,000 in the rest of the country.

The rest of the country recorded the smallest drop in sales, about 2%, while the drop along the Adriatic was almost by one-fifth due to fewer foreign buyers. The drop in Zagreb and its environs was 4.5%.

In terms of the coast, last year foreigners bought four in ten properties sold in Istria County, three in ten in Primorje-Gorski Kotar County, one in four in Zadar County, one in five in the Dubrovnik and Šibenik areas, and 16% in Split-Dalmatia County.

As for continental Croatia, foreigners bought 2% of the properties sold in Međimurje and Varaždin counties.

Most of the foreign buyers were from Germany, Austria and Slovenia.

In 2020, the housing market showed resilience to the current crisis, so stronger risks to financial stability linked to that market could occur in the period ahead, according to the central bank.

For more, follow our dedicated business section.

Wednesday, 2 January 2019

Šibenik Investment: Large Property Projects Coming to Dalmatian City

A large Šibenik investment is underway, with construction permits expected to be granted in the spring, and works set to begin just after the end of 2019's summer tourist season.

As Suzana Varosanec/Poslovni Dnevnik writes on the 2nd of January, 2019, Zagreb Montaža Grupa (Montage Group) and ZM Development for design and construction, both headquartered in Zagreb, have gone about preparing the ground in the historic Dalmatian city of Šibenik for this year in order to intensify new, large real estate projects - Draga and Podsolarsko. The total value of the foreseen investments is approximately 110 million euro..

Partnership with the Austrians

Otherwise, this project refers to one of the largest Croatian construction companies with about 1,500 employees, and which is mostly engaged in jobs related to European Union export markets. It appears that the Draga project will be realised in partnership with an Austrian real estate company, while Podsolarsko will be run independently. Judging by what is known at the moment, both projects are gradually moving towards realisation at the same time, a fact which seems to have served as a "trigger" for completing the necessary spatial-planning and other paperwork for Podsolarsko at the end of 2018.

As they are currently navigating through the waters of the highest status of administrative preparation in Šibenik, and a quick procedure for the issuing of the necessary building permits is expected, which according to the current announcements should be resolved in the spring. After the upcoming summer tourist season, these projects are going to be realised with the execution of the first construction work. Thus, newly-built facilities will be built, covering a total area of ​​approximately 70,000 m2.

Within the scope of this project which encompasses a large Šibenik investment, Draga is preparing an additional offer of substantial garage space for the market. The design of the necessary solutions for such an offer is already under way with a design bureau from Barcelona in charge of Draga, while one of Zagreb's architectural offices is undertaking the design work for Podsolarsko.

As part of the Draga project, with a planned investment of about 50 million euro, 40,000 m2 of new garage-retail and residential space in the centre of Šibenik is planned. As the design and plan extends where today's city market currently stands, which will require for it to be temporarily relocated to part of today's parking area next to Šibenik bus station, the first phase of this project must be completed within eighteen months of the beginning of construction.

After the realisation of the main part of the project, the second phase is expected to be the construction of apartments and business premises. There will be a modern residential area boasting an impressive 30,000 m2 of living space, the construction of a mini marina for up to 65 boats is also set to take place.

The second phase of the plan involves the construction of hotels with about 250 accommodation units, they'll allegedly be of a high category, and this stands as an investment that cannot be less than 60 million euro, they say.

Sources close to the Zagreb Montaža Grupa say that both Šibenik investment projects have already attracted the interest of potential buyers.

Make sure to stay up to date with our dedicated business page for more information on this Šibenik investment, and much more.

 

Click here for the original article by Suzana Varosanec for Poslovni Dnevnik

Saturday, 15 December 2018

Property in Croatia: House and Apartment Prices Fluctuate

Questions about property in Croatia are common, and while the prices vary dramatically in various regions of the country, with places like Split and Dubrovnik typically dominating, there have been some significant fluctuations.

As Novac.hr/Jutarnji/Iva Novak writes on the 15th of December, 2018, Crozilla.com's data on property in Croatia showed that average prices of advertised houses rose by 0.8 percent in November. When comparing them to apartments, which are still more expensive than houses, the difference was almost 21 percent.

Dubrovnik, with a difference of 10 percent, and Poreč with 2.5 percent, remained, as they did in previous months, rare cities in which houses were more expensive than apartments. The biggest monthly increase was recorded in Dubrovnik, where prices rose 5.8 percent, so the value per square metre in a house, with the price of a garden included, rose to 4,145 euros.

For a square metre of a house in Poreč, an average of 1,911 euros was requested, which is 0.4 percent more than it was during the previous month. The biggest difference in prices during November posted on Crozilla.com in Bjelovar, where houses were more than 44 percent cheaper than apartments, and then in Osijek where the difference was 39 percent, followed by Varaždin, at 36.3 percent.

The average advertised price of houses in Bjelovar was only 434 euros per square metre, which is 0.9 percent less than the month before. In Osijek, their value rose by 1.2 percent, while the price per square metre was only 587 euros. The data also showed that houses in Varaždin increased by 0.6 percent on average, and 713 euros was being asked per square metre.

In Zagreb, house prices were almost 34 percent lower than apartment prices, and the price per square metre advertised was 1,261 euros on average, representing a monthly increase of 0.7 percent. In Slavonski Brod, a 634 euros per square metre of a house was demanded, which is almost 21 percent less than the price of the apartment there.

The value of houses fell by 0.3 percent on the monthly level, as well as in Senj, where they were 25 percent cheaper than apartments, and their average cost was 1,195 euros per square metre. Lower monthly value in the amount of 0.9 percent was recorded in Umag, where 1,877 euros was being requested per square metre for a house, which is 7.8 percent less than the average price of apartments there.

In Opatija, house prices fell by 1.1 percent, and the value of their ''square metres'' dropped to 2,216 euros, which is almost 25 percent less than the advertised apartment price. There was a similar difference in the prices of houses and flats in Šibenik, where the average square metre price in a house averaged 1,529 euros, which is 0.1 percent less than it was during the previous month.

In Zadar, however, houses were about 23 percent cheaper than apartments.

Their monthly values ​​increased by 0.5 percent in November, and the price per square metre, with a garden included, stood at 1,698 euros. The prices of houses in Split rose by 3.8 percent on a monthly basis and reached 2,417 euros per square metre. Housing there during November was about 15 percent cheaper than apartments there were, and such a difference in prices was also recorded in Rijeka, where 1,229 euros per square metre were being demanded, 0.8 percent more than the previous month.

In Pula, according to Crozilla.com, prices on a monthly basis increased by 0.3 percent, so the price per square metre of a house demanded 1,459 euros on average, which is 13.1 percent less than the price of the apartment.

Make sure to follow our dedicated lifestyle page for more information on property in Croatia and much more.

 

Click here for the original article by Iva Novak for Novac.hr/Jutarnji

Monday, 17 September 2018

Property Remains Most Expensive in Southern Dalmatia

It doesn't come as much of a surprise...

Monday, 31 July 2017

Rental of Smaller Apartments More Expensive in Zagreb Than at the Seaside

The demand for renting flats in this time of the year is on the rise, as well as apartments sales.

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