Regardless of high prices of squares, new construction in Zagreb finds its customers. How the war in Ukraine affects the behavior of citizens in this regard, Večernji has discovered with real estate manager Boro Vujović.

"Independent of Ukraine, fewer people are buying APN credit because it's noticeably more customers who are paying in cash. Many are saving money from banks and buying real estate to preserve the value of money due to inflation," explains Vujović, adding that the war has shown that real estate is not safe. He states that it will take time to get clearer picture of where the market is going, but believes that the motivation for investment in real estate will exist as long as interest rates on savings are low and low on credits. “Good situation in the economy pushes the market upwards, crisis and inflation downwards. Nevertheless, I do not expect a scenario from 2008," emphasizes the real estate manager.

Erste Bank claims to Večernji that none of their clients had been scared by the war or crisis and gave up on buying an apartment through APN. They say they carefully monitor the development of events, but that it's still too early to draw conclusions. They have not introduced changes to credit conditions yet.

Zagreb real estate agent Peđa Kovačević says he expected a slowdown, but it did not happen. “Apartments on good locations and with real prices are quickly sold, and where unrealistic prices are highlighted, there is a longer wait, but nothing unusual happens,” he explains.

Last week, internet advertisements platform Njuškalo published an analysis of sold apartments in 2021. The average price per square meter in Zagreb being sought is 2,300 euros, and for houses around 1,440 euros. Houses of over 100 square meters are sought in Zagreb and Zagreb County, and account for 12% of the total demand. In Croatia, customers were most interested in apartments of 40 to 60 square meters. Almost every second customer was looking for such an apartment, according to Njuškalo.

Source: zagreb.info

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