Housing prices in Croatia decreased by 3.5% for the last year

July 31, 2013

Housing prices in Croatia decreased by 3.5% for the last year

In June 2013 housing in Croatia has fallen in price by 3.5% in annual terms. Compared with June 2011 a decline was of 5.6%, as compared to the first summer month in 2010 - 10.5%, according to ee24.com with reference to the portal Crozilla.com.

The strongest decrease in prices is in Split. Apartments in the city dropped to less than €2,000 per sq.m. Also very sharp decrease in prices for apartments is in Dubrovnik, where the average cost is €3,000 per sq.m. But in Zadar and Sibenik prices surprisingly rose.

The average asking  price of apartments in Dubrovnik fell to €2,956 per sq.m. This is 6.1% less than in May of this year and by 3.2% lower than in June of the last year. In Split, the average asking price is €1,981 per square meter. This is 3.9% less than month ago and 5.7% lower than in June 2012. Experts call it the largest decline, which happened on the Croatian market in the year. But even after the decline, the prices in Dubrovnik and Split are still higher than in other cities.

Apartments in Zadar in June were worth an average of €1,599 per sq m, which is 2.1% up over the previous month. In Sibenik property prices rose by 2.3% - up to €1,515 per sq.m. So, Zadar became the only city in the country in which the property for the year slightly increased by 0.1%.

In Zagreb apartments fell by 0.02% compared with May 2013. Housing in the capital on the average costs €1,640 per sq.m. In the city of Pula prices fell by 1.2% and now account for €1,361 per sq.m. In Rijeka, housing costs on average €1,406 per sq.m. This is 0.8% less than in May 2013.

Housing in the continental part of Croatia is even cheaper. In Varazdin apartments cost an average of €1,029 per sq.m. This is 0.2% less than a month ago. A house in Osijek costs an average of €928 per square meter. This is 1.7% lower than in May 2013.

Text: Ivan Ulitin, ee24.com