Petitions for state subsidies for buying apartments are almost the only thing happening on the real estate market at the moment. The epidemic and the Zagreb earthquake have resulted in something that has never happened before - there is no real estate market at the moment, and it's unclear what the actual prices of these properties are, nor when and how they will be formed again. The first pandemic, followed by the earthquake, have completely stopped the real estate market over the past few weeks, with almost no buying or selling taking place. - There are hardly any buyers, sellers have backed off, and people are in fear, waiting to see how everything will sort out and how long the pandemic will last. There is no traffic by default, says Borislav Vujović, owner of the real estate agency Opereta. And without supply and demand, there are no prices either, so it's difficult to estimate when and how prices will drop for real estate. Everything will depend on the duration of the pandemic and extraordinary measures. - We assume that due to the decline in the economy and reduced purchasing power, there will be a decline in demand, and prices will only be corrected then, meaning that are processes ahead of us, and everything depends on other elements, too, it depends on how banks will react, whether they will keep interest rates on credits low, etc., explains Dubravko Ranilović, director of the Kastel agency and president of the Association of Real Estate Business at the HGK. Hitherto extremely attractive real estate in downtown Zagreb are now subdued due to the earthquake. However, even among them, there are significant differences depending on the year and quality of construction, and so it will depend on the speed of recovery, but also prices, says Ranilović. - Looking at it long-term, every downtown area of a major city has a prospect, so downtown Zagreb will also return its value after a certain time, but it will be difficult in the beginning, it will be, adds Ranilović. The collapse of the tourist season will also impact prices on the Dalmatian coast. - It is likely that many apartment owners will put their properties for sale or in long-term lease, so it will bring about some change in the market, concluded Vujović. Currently, says Vujović, the only exceptions on the market are those who want to use the state subsidy for an apartment or those who need to find a new place to live due to the earthquake.

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