WHO, WHAT, HOW MUCH? REAL ESTATE MARKET IN CROATIA 2012.- 2017. 05.03.2019.

As the title says, in this article we will present a statistical summary of data on real estate market in Croatia.

Ministry of Construction and Physical Planning of the Republic of Croatia and the Institute of Economics, held on September 17, 2018, held a professional conference "Real Estate Market of the Republic of Croatia" in Zagreb, and presented the publication "Overview of the Real Estate Market of the Republic of Croatia 2012-2017". According to the study data, 536811 transactions were realized on the real estate market between 2012 and 2017, with the largest number of transactions pertaining to agricultural land transactions, which totaled 220459 in the observed period. Following the agricultural land, flats/apartments103193 transactions, and construction land with 74378 transactions. Total value of transactions in 2012. amounted to 22.4 billion HRK in order to reach 27.8 billion HRK in total transaction value in 2017, representing 7.7 percent of gross domestic product of the Republic of Croatia of that year. The most significant share of the value of real estate transactions are flats that account for 35.4% of the value of contracted transactions, followed by different real estate, building land, category of other and business premises.

Construction land sales are the most frequent transaction on the coast.

In major cities such as Zagreb, Split, Rijeka, Zadar, Osijek and Dubrovnik, they are dominated by the sale of flats/apartments. Furthermore, in the coastal belt of larger urban settlements dominate the sale of construction land which, in the case of Central Dalmatia, also includes a part of the hinterland. In the rest of Croatia, sales of agricultural land sales dominates.

The most expensive apartments are in Dubrovnik.

Dubrovnik is the only unit of local government in which the median price of flat/apartment in the observed period was higher than 15,000 HRK/m2. The price ranged from 10,000 to 15,000 HRK/m2 is in 33 units of local government, which are exclusively located along the Adriatic Sea. Prices per HRK/m2 of 5.000 and less are related to rural areas, and in central and eastern Croatia.

Family houses on the Adriatic are up to 18 times more expensive than in the inland of the country. 

In only five units of local government, the median price was higher than 10,000 HRK/m2 in Vrsar, Taru-Vabriga, Rovinj, Dubrovnik and Konavle. The prices of family houses HRK/m2 of 2,500 and less are mostly found in rural areas and in central and eastern Croatia. For 1 m2 in Dubrovnik-Neretva area, 17.6 m2 of houses could be purchased in the Požeško-slavonska county.

According to Crozilla's portal data and their non-residents survey of real estate claims, the potential buyers showed the largest interest rates for houses (43 percent of inquiries) and apartments for sale (17 percent) and rental apartments (12.5 percent).

The share of foreign visitors who searched property listings in 2018 were from BiH, Germany, Slovenia, Czech Republic, Slovakia and Switzerland. During 2018, German citizens sought the most for apartments for sale in Zagreb and Crikvenica, then in Split, Pula and Poreč, while the biggest attention was given to houses in the Zadar, Vir, Vodice and Krka areas. Slovenian citizens showed the greatest interest for area of Poreč and Červar-Porat,  apartments for sale in the Primorje-Gorski Kotar County, as well as those in Krk, Labin and Medulin.

The Czech and Slovak nationals have shown the greatest interest in apartment and investment projects, as well as apartments mainly in Zadar, Zadarska County, Vir, Nin, Vodice and Makarska riviera. But we have to point out, there is also a great interest in Istria and Kvarner, as well as in Croatian islands. Swiss nationals showed the greatest interest in apartments in Trogir, Zagreb, Pula and Crikvenica, as well as houses in Vir, Zadar and Zadar County, Vodice and Crikvenica.

Additional Data and Graphic View of Statistical Data:

- Study "Real Estate Market Review of the Republic of Croatia 2012-2017" is fully accessible at the following link: click here.

- The pictures and graphs that accompany the study can be found at the following link: click here.

- A summary of the studies is available here.

- You can find the Crozilla portal research here.