Pandemic, Earthquakes, Record-Low GDP - All have Strongly Affected the Real Estate Market. Sales have Decreased, there are no Foreign Buyers, and Locals are More Cautious and Demanding. Instead of Apartments in Older Buildings, There is a Demand for Quality New-Builds, Which are Currently Lacking in the Market. Despite Everything, Property Prices Continue to Rise, Especially in Zagreb and the Coast. In the Heart of Zagreb, Residential Sales have Almost Come to a Standstill, but New-Builds are Selling Quickly. The Price per Square Meter Ranges from Two to More than Five Thousand Euros. - The Market is Affected by the Low Interest Rate on Savings, Which Have Almost Zero Interest, and Credit Interest Rates are at Historically Low Levels, Around 2-3 Percent. Some Citizens Believe that Owning a Property is Better than Paper Money, Says Borislav Vujović, Deputy President of the Croatian Chamber of Commerce's Association for Real Estate Business. Split Citizens Know this Well. Property Prices in Žnjan are Skyrocketing. The Reason - Expensive Land and High Standards of Energy Efficiency and Fitting-Out of Buildings. - We are Trying to Do Quality Work on Good Locations, and That Comes with a Price. Buyers Are More Demanding, and That Costs, Says Denis Puljić, a Contractor from Split. Even in the Corona Crisis, Agencies and Investors Have Waiting Lists for Expensive Residential Quads on the Adriatic. - We Have Prices of up to 6-7 Thousand Euros per Square Meter. The Limit Has Long Passed the Reasonable Price Threshold, but as Long as There are Buyers, Prices Do Not Fall. If We Were Experiencing Sales Stagnation, Prices Would Drop, Says Meri Vulić, a Real Estate Agent from Split. All Sold Out in Lika There are Currently no Foreign Buyers in Dubrovnik, but Property Prices Remain High. In Lika, There are Positive Trends. Everything is Sold Out, and the Corona Crisis is Actually Helping, with Prices Rising and No Free Land or Houses Available, Says Vujović. In the Under-Populated Slavonia, There is a Different Story. Houses Are Being Sold for 10-50 Thousand Euros, and Osijek Lacks Quality New-Builds. - Sales Volume is Very Low Due to the Lack and Limited Quantity of Apartments, and Buyers Mostly Seek 50-80 Square Meter Apartments. There is a Very Limited Supply of New-Builds, and the Emphasis is More on Houses in the City of Osijek, Says Marijan Matijević, an Agent from Osijek's Real Estate Agency. New Buildings are Mostly in High Demand in Zagreb and Lika-Senj County. There is Expected to be a Higher Demand in Spring with a New Round of Subsidized Loans for Young People. Source: hrt.hr

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