Despite warnings that the pandemic and the subsequent earthquake would disrupt the property market in Croatia, experts with whom we spoke say that the situation is not as dramatic. In Istria, interest in real estate has always been high, especially from foreigners, and I have the impression that the number of those from the Zagreb area and its surroundings has also increased. I would not necessarily link this to the earthquake and pandemic, but rather to the preservation of the value of money. Saving in banks is not incentivizing, and investing in real estate always pays off – says for 24sata Vlatko Mrvoš, a real estate agent in the agency Buzet and deputy president of the Association of Realtors in Property Transactions at the Croatian Chamber of Commerce. He says that foreigners are mostly interested in apartments closer to the coast in popular tourist destinations, while some of them and domestic buyers discover the interior. – Especially interesting to them is the northern part of Istria from Grožnjan to Oprtalj and Motovun and Buzet where tourism is possible throughout the year with a quieter life close to major cities. Especially in demand are properties in old town cores where you buy a dose of history – says Mrvoš, adding that the price per square meter varies and is between 1,000 and 1,200 euros in the interior of Istria, while prices on tourist destinations are from 1,500 to 1,700 euros. Neither in Slavonia do we observe significant oscillations on the market, and from Zagreb they had after the earthquake mostly a few months ago, maybe a dozen inquiries. So tells us Krunoslav Šabić, deputy president of the professional group at the Croatian Chamber of Commerce and owner of the Tasman real estate agency in Osijek. – This is only a certain minority and it will not be everyone who will move there right away. After the earthquake in Zagreb, there were no inquiries, but only after the one in Petrinja. Now we've had only a few inquiries and we'll see what will happen next with it. Otherwise, we in Osijek as the center of Slavonia are recording good results in terms of market stabilization and equalization with the rest of Croatia, prices have been rising for the past three to four years, and new construction is currently around 1,350 – 1,400 euros for smaller types of real estate in terms of large residential buildings. Luxury villas can be bought for 1,600 – 1,700 euros per square meter. Three to four years ago, prices were lower by up to 40%. At the moment, demand is greater than supply – says Šabić. The situation is getting better in Lika, believes Deputy President of the Lika Realtors, HGK and owner and director of the Lika real estate agency Ivan Bižanović – Lika is very well connected to the rest of Croatia because you are close to the motorway from which it takes an hour to get to Zagreb, Zadar or Rijeka. Compared to Zagreb where it takes the same amount of time from Dubrava to Precko, life is quieter and of higher quality. I would not say that there is a greater interest in Lika after the earthquake and that many people have moved there because of it. People always look for something, and everything is sold – from agricultural and construction land to derelict houses or houses in need of renovation. There are no rules – explains Bižanović, adding that the real expansion to the Lika pastures will occur only after two and a half years when the moratorium on the sale of agricultural land expires, so foreigners will be able to buy them in Croatia. Depending on the location and type of real estate, prices range from 400 euros to several thousand euros. Zagreb real estate buyers are now looking at things differently, and the city center, which was previously considered the top location, is no longer on the market's agenda. On the contrary, buyers are avoiding it and real estate agents are repeatedly saying that they have no inquiries from interested buyers for this part of the city. – Ever since the first earthquake, the situation changed. The corona virus led to the fact that we were left without tourism, which was a big generator for the center and furnished rentals, so it coincided with the earthquake and the attractiveness of most apartments in the Lower and Upper districts was reduced. The traffic was extremely small, and in the fall when people had started to forget about the earthquake, a new interest appeared for apartments in the center, but then the Petrinja earthquake happened and all interest was lost – says for 24sata Boro Vujović from Opereta real estate and deputy president of the professional association at the HGK. In line with this, there has been a slight increase in the number of sellers who would like to sell their real estate in the city center, but they are aware of the situation and have adjusted their prices. – Prices are around 2,000 euros per square meter – says Vujović, emphasizing that buyers are now more interested in real estate in Velika Gorica or Sveta Nedelja, which are near Zagreb, but with better quality construction. – Buyers are looking for concrete buildings, so for example new construction in Velika Gorica is around 1800 euros per square meter and apartments in the construction phase are being sold without problems. The Zagreb situation is indeed specific, believes real estate agent Jagoda Kušević Grgurić from the Mediar Real Estate agency. – We haven't had any inquiries from buyers nor any interest in the city center, nor in the northern districts such as Gračanica or Markuševec. We did have a few clients with better payment ability who have kept the damaged real estate in the city center, but they bought another apartment while renovating the first one. What we noticed at the beginning of the year is that there are more calls from individuals who want to buy a flat in a wider city center area if it is a newer construction – explains Kušević Grgurić, adding that the location is no longer the one that dictates the price. – We expect a continuation of the trend of abandoning the city center and a policy will need to be introduced that will deal with buildings from the 1930s and 1940s that will be extremely difficult to sell in the coming years. Probably even those that have a green sticker will need to be renovated – predicts Kušević Grgurić. The President of the Realtors Association HGK, Dubravko Ranilović says that the real estate market in Croatia has not turned off since the beginning of the pandemic, but it has been significantly slowed down. – However, the traffic in the entire country, including Zagreb, is significantly smaller, but the prices are not declining as much as the significantly reduced traffic and trade in older parts of the city, such as the Lower Town, or in buildings that have suffered damage from the earthquake. In recent years, we have noticed an increased interest in new construction and this trend has continued, especially now after the earthquake, so safety of the real estate is now one of the main criteria for purchase – explains Ranilović, adding that market prices for real estate in general are not decreasing in the country, and in the center of Zagreb, some individuals have only slightly adjusted their prices for damaged properties.

About us

Information

Services

About us

Information

Services