Residential building prices are in great demand, but unfortunately, in some parts of Zagreb, there is not enough to meet market needs, so they often resell in the construction phase. As of March, the average sought price for new construction on the Crozilla.com platform was €1,865 per square meter, with price ranges from €1,000 for smaller ones up to around €4,000 for the larger ones. Diana Perger, owner of Euro-interijeri real estate agency, said that, depending on the location, home prices in new construction either stagnate or are in a moderate rise. She adds that new home prices in the more attractive parts of Zagreb, such as Trešnjevka, Bundek Centre, Jarun, and similar areas with tram lines, are in a moderate rise, with prices ranging from €2,600 and up. Residential buildings in family neighborhoods such as Špansko, Malešnica, or Gajnice have had stable prices for over a year, ranging from €1,600-€1,700 per square meter. The difference this year is that residential buildings in new construction are selling extremely quickly, even in the excavation phase. There is a notable trend of a shortage of smaller two-room apartments, as they sell as soon as the ad is posted.

Residential prices

According to the data from the real estate platform Crozilla.com, the average prices of Zagreb's apartments have increased by 0.6% on a monthly basis, or 7.7% on an annual basis in March. The average sought price per square meter had reached €1,791. Prices remain the highest in the Centre, also the most sought-after part of the city, with the average price per square meter of an apartment reaching €2,118 in March, a 0.4% increase compared to the previous month and 7.2% more than in the same month last year. Compared to March 2016, the average advertised prices of apartments in the city centre have increased by 12.4%, or almost 14% compared to 2015. The largest monthly increase, 1.8%, was recorded in New Zagreb, where the average price per square meter was €1,439. In this part of the city along the Sava River, prices increased by 4.5% annually, which is less than in other parts of Zagreb. According to data from Crozilla.com, this is a difference of 13.7% compared to March 2016 and 14.7% compared to 2015. On an annual basis, the largest increase in prices was recorded in the Western part of the city, with almost 9% higher values. The average price per square meter of an apartment in this part of the city was €1,595, which is 0.2% less than in February. Compared to March 2016, apartment prices in the western part of the city, according to Crozilla.com data, have increased by 10.8% and by 7.3% compared to 2015. On average, apartments in the Eastern part of the city were priced at €1,658 per square meter in March, which is 1.2% more than the previous month and 8,5% higher than in the same month in 2016 and 2017.

The most sought-after are smaller apartments

According to data from the Crozilla.com platform, the most sought-after parts of Zagreb for buying apartments in March were the Centre, Trešnjevka, Maksimir, Dubrava, and Špansko. " As in previous years, the most sought-after are 1.5-bedroom, i.e. small two-room apartments of around 40 square meters, then smaller three-bedroom apartments of around 65 square meters, and if we're talking about larger apartments, the most quickly selling are four-bedroom penthouses on top of a building with spacious terraces,"

Houses are significantly cheaper than apartments

The price of a square meter of a house on the Crozilla.com platform was, on average, listed at €1,241, which is €550, or over 30% less than the sought price for a square meter of an apartment. " To put it simply, with the price of a four-room apartment in a building, a buyer can buy a quality family house in a Zagreb suburb. A specific example is a house with a yard in Zaprešić with an area of 350 square meters, with two apartments and a garage, which is priced at €145,000. For the same price, a buyer can purchase an apartment of approximately 85 square meters and a parking spot in Zagreb's Gajnice neighbourhood." – Perger told Crozilla.com. Source: crozilla.com

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