Price of land in Croatia: Where its rising and falling in 2024

Price of land in Croatia in 2024

Croatia’s land market is seeing big regional differences, with soaring prices in Zagreb and surrounding areas, while other regions, like Northern Croatia, face declining demand.

This dynamic market reflects urban growth, economic shifts, and changing investor interest.

This information, from a report by the property website Indomio.hr, offers potential buyers insights into trends across different parts of the country.

Construction Land: Rising Prices in Zagreb County, Decline in Northern Croatia

Construction land prices in Croatia vary widely by region. The highest prices are found in the Adriatic region, where the average price per square metre has reached €121.32, marking a modest 3.39% increase from 2023.

In Zagreb, prices are also high at €115.87 per square metre, although they have slightly decreased by 1.30%.

The most notable increase is in Zagreb County, with prices rising by 12.8% to €33.92 per square metre. Conversely, Northern Croatia has seen a significant price drop of 13.43%, bringing the average to just €15.88 per square metre, Jutarnji list reported.

According to Mladen Matijević, regional director at Indomio, the rise in Zagreb and Zagreb County is largely driven by urbanisation and increased demand for housing. Major infrastructure projects, such as expanded public transport and new business centres, enhance the area’s appeal. Meanwhile, the decline in Northern Croatia reflects reduced economic activity and a migration of younger residents to urban centres, lowering investor interest in this region.

Agricultural Land: Zagreb Leads with Highest Price Increases

Agricultural land prices in Croatia also show varying trends. Zagreb has seen the sharpest rise, with prices increasing by 36.9% to €28.28 per square metre. Zagreb County has also recorded a significant price rise of 17.1%, reaching an average of €6.80 per square metre.

In the Adriatic region, agricultural land prices stand at €18.08 per square metre, up by 3.63%, while Panonian Croatia has observed a smaller increase of 7.46%, with prices at €2.66 per square metre. Northern Croatia, on the other hand, has experienced a 10.5% decline, with prices now averaging €4.23 per square metre.

Land in Croatia

Matijević notes that Zagreb’s strong price increase may indicate growing interest in land for urban development.

In the Adriatic region, stable prices reflect ongoing trends in tourism and potential land repurposing, while in Panonian Croatia, stable prices are influenced by a mix of economic and demographic factors.

Efforts to encourage investment and growth in agriculture and other industries in this region may offer further opportunities for development.