Apartment Prices Drop 25% In Last 5 Years In Croatia

Apartment prices in the most attractive parts of Croatia, on the Adriatic coast and in the capital Zagreb, have fallen around 25% in the last 5 years, and experts predict that there is still more falls to come as the crisis and unemployment continues to grow, reports daily Novi list.

Before the global crisis hit in 2008, the average sought after price on Croatia’s coast was 2,130 euros per square metre, whilst in the capital Zagreb the average price was 2,050 euros per square metre. In February this year the average sought after price on the Croatian coast had fallen to 1,606, euros per square metre, and down to 1,649 euros per square metre in Zagreb.

Apartment prices are the most expensive in the Dalmatian city of Split, where per square metre prices are 10 to 15 percent more than in Madrid or Barcelona, which are the most expensive parts of Spain. It is not Croatia in Europe where prices have taken a hit in the last 5 years, apartment prices have dropped the most in Ireland since the crisis hit, where Novi list reports that they have dropped by more than 50%.