Real Estate Market Down 5.9% In Croatia

Real estate sale prices once again dropped in Croatia in July, falling by 0.2 since June, to continue the negative trend in the real estate market in Croatia in 2013.

Prices in Croatia have now fallen 5.9% on a yearly level, according to data from CentarNekretnina. When broken down into regions, the capital Zagreb has seen a 0.3% fall on June’s data and a 7.1% fall on a yearly level. The average sought after price for an apartment in Zagreb in July was 1,596 EUR per square metre.

Real estate on the Adriatic coast did not fear too much better. With Croatia joining the EU on 1 July, there was definitely no immediate rush for properties as some media earlier indicated might happen. Advertised sale prices were down 0.1 in July from the previous month for property on the coast, whilst it is down 4.3% compared to last year. The average sought after price for a house on the Adriatic coast was 1,514 EUR per square metre. Sale prices were up however in July for apartments on the coast. Sought after prices rose 0.2% since June but still down on a yearly level by 0.6%. The average price now 1,967 EUR per square metre.