Rise in Property Prices in Four Largest Croatian Cities

Property prices have significantly increased in the four largest Croatian cities, and the difference between the prices requested and the achieved prices is only €500 per square meter

Last year, everything got more expensive, including property. This trend could continue into this year as well. However, before taking a loan or cashing out from your savings, it's worth seeing how much property costs on average in the largest cities.

Thus, according to the data from the portal Crozilla, in the most in-demand city of Zagreb, a square meter of an apartment cost an average of €2271. In Split, prices surpassed €3000, in Rijeka, a square meter of a convenient apartment costs €1820, while the Slavonian metropolis of Osijek is the cheapest with €1000 per square meter. The calculation includes property in older buildings, as well as new constructions.

No, when looking at the entire Croatia, the achieved prices are lower than the requested prices. The average requested price in the past year was €2130 per square meter, while the achieved price in the average was around €1625. With the rise in requested prices, there is also a rise in achieved prices, mostly by six percent per year. These prices have drawn closer to the crisis of 2010, when the difference was just fifty euros.

Expensive New Construction

If we look at how much property has actually increased in price in Croatia, it's worth saying that in 2001, property prices were around €1000 per square meter. However, today the prices are significantly higher, especially in new constructions. For example, in Trešnjevac, for a 70 square meter apartment, €215,000 is requested, or €3071 per square meter, and there are even new buildings where apartments cost up to €5000 per square meter.

New construction in the Šnjan district of Split costs €3700 per square meter, so for a 50 square meter apartment, it's necessary to set aside €188,000. In the center of Osijek, you can pass by almost twice as cheaply. There, a 96 square meter apartment costs €153,000.

Active Market

Such prices haven't stopped the sale of property. In fact, according to data from the Tax Administration, last year in Zagreb, more than 12,000 property sales were carried out, in Osijek 1,933, in Rijeka 1647, and in Split 1273. The four largest cities make up a third of the total property market, whose balance in 2021 was €53,000 worth of sales.

Izvor: net.hr, rtl.hr

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