Housing Prices and New Measures: Here's What Our Expert Says In recent months, housing policy and housing prices have become the main topic of conversation – from young people looking for their first home to investors and landlords. The government has launched several measures, such as property tax, partial VAT refund on the purchase of the first property, and affordable rental models. However, the results will not be seen overnight. These are long-term processes. Measures with Long-Term Impact Although the goal is to increase housing affordability and steer the market in a more sustainable direction, it is clear that it will take time for more visible results. Experiences from other countries show that entire cycles, up to ten years, are needed to show real effects. This topic was discussed in an interview for Tportal by our Boro Vujović, director of Opereta real estate and he highlighted several key points. "Prices, as statistics show, continue to rise. Our turnover has decreased, but this is more a consequence of high prices, the fact that there is not enough supply of real estate on the market, and that our foreigners, namely the main markets of Austria and Germany, are in trouble. Foreigners make up about 40 percent of our buyers, and I think these are some parameters that are currently affecting the market," said Vujović. From his perspective, the state of the real estate market could also be influenced by the tourist season, the policy of lending for apartment purchases, and a number of other factors. On the other hand, the City of Zagreb has adopted a new Zagreb General Urban Plan (GUP), which, among other things, envisages a 30 percent reduction in the construction coefficient. Vujović adds that the impact of the GUP on price growth should not be felt if the City of Zagreb decides to build rental or affordable housing. And the impact of housing policy programs on real estate prices could, according to him, be felt when citizens receive the first decisions on property tax payments and when the first results of this year's tourist season arrive. For all other effects, according to him, it will be necessary to wait until next year. What This Means for Citizens Buying the first property is still a big challenge, but the market is gradually changing. Government measures, although slow in their effects, combined with changes in tourism and global trends, can open up new opportunities. That is why it is important to have a reliable partner who understands market dynamics and can help make the best decision.

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