Property Prices on Decline in Croatia

Real estate prices in Croatia continue to fall as demand in property tapers off, according to the latest data released by real estate portal Crozilla.com.

Property prices have fallen 5.2 percent and land prices have dropped 6.5 percent, compared to 2011. The most expensive property is still found in the Dalmatian City of Dubrovnik, where prices are on average 3,504 euros per square meter. The cheapest area in Croatia is the eastern City of Osijek, where properties fetch for 674 euros per square meter.

Land values have also experienced a decline, with the biggest drop occurring in the Istria and Split-Dalmatia Counties. In the Split-Dalmatia County, 160 euros per square meter was the average sought after price for land. Only the Primorje Gorski Kotar (110 euros per square meter), Zadar (125 euros) and Zagreb (188 euros) Counties saw land values grow compared to the same period last year, reported website poslovniplus.com.