Croatia property: Rijeka sees 16% rise in asking prices, drop in Dubrovnik

Dubrovnik (Photo by Marko Obrvan/Pexels)

ZAGREB, 17 February (Hina) – Broken down by city, the biggest rise in Croatia in the average asking prices of a flat from early 2019 until now was registered in the northern Adriatic city of Rijeka (+16%), and the eastern city of Osijek followed with a 10% rise, according to an analysis of the search-based platform “Njuškalo”.

The capital city of Zagreb saw a rise of 8.7% in the asking prices for flats, even though the 22 March 2020 earthquake, coupled with the COVID-19 pandemic, was expected to adversely impact property prices.

Despite those circumstances, trends in the prices of flats for sale in Zagreb have continued to rise at the beginning of 2021 at roughly the same rate.

Also, the asking prices for houses in Zagreb increased by 8.36% over the past 24 months.

The average asking price for flats in Zagreb is €2,159.25 per square metre and €1,368.75 per square metre for houses.

However, the downtown area of Zagreb, which sustained the worst damage, saw a decline in flat prices, Njuškalo says.

For instance, in March 2020 just before the quake, the average asking price was €2,666.41 per square metre for that part of the city, while in January 2021 it was down to €2,567.70.

In Rijeka the average asking price is €1,780, up 16% from January 2019. As regards houses in that seaport, the average asking price is €1,473 per square metre.

Rijeka

In Osijek, the average asking price for a flat was €966 per square metre in January 2019, and now it is €1,063. The average asking price for houses is €731 per square metre.

The two southern coastal cities of Split and Dubrovnik have experiences some oscillations in property price trends.

In Split, the second biggest Croatian city, the asking prices are higher for houses than for flats: the average asking price per square metre of a house is €3,122, up 4.93% from the start of 2019.

The average asking price per square metre of a flat has risen by 6.85% to €2,987.

Split

Property market in Dubrovnik affected by corona crisis 

The average asking price per square metre of a flat in the southernmost resort of Dubrovnik decreased by 5.22% to €3,628 in January 2021, as a consequence of a weak tourist season in the summer of 2020.

The average asking price per square metre of a house fell by 12% from €4,666 to  €4,117.