For those who are only interested in new construction, and in popular locations, the prices are significantly higher
In the years behind us, everything is more expensive, even real estate. How much is being demanded today for apartments in the biggest cities, how many are being sold and at what prices?
We expect a slight increase in real estate prices this year as well, and here is how, according to the real estate portal crozilla, apartments were sold in the 4 largest cities in 2021.
In the most sought-after Zagreb, an average of 2,271 euros was demanded for a square meter of an apartment. This is followed by Split, where average prices exceeded 3,000 euros. Rijeka was the third most sought after, with a price of 1820 euros, while the most favorable is Osijek with just over 1000 euros per square meter. This calculation includes all apartments, therefore, both older buildings and new construction.
However, in the entire area of Croatia, the achieved prices are still slightly lower than requested. The asking price of apartments last year averaged 2,130 euros per square meter. The achieved price, ie the one stated in the sales contract, was ultimately 1,625, ie about 500 euros less.
Realized apartment prices have been growing significantly in recent years at a rate of 6 percent per year, and it is interesting that these two prices came closest to each other during the crisis in 2010.
At that time, the difference between the amount that the sellers asked for and the one for which the buyers bought them, was only about 50 euros. Also, we look almost nostalgically back in 2001, when real estate in Croatia was half cheaper than today, so about 1000 euros per square meter.
For those who are only interested in new construction, and in popular locations, the prices are significantly higher. We peeked into the advertisements which say that in Zagreb, on Trešnjevka, for example, for an apartment of 70 square meters, 215 thousand euros are required, or 3071 euros per square meter. Prices for new construction in Zagreb reach up to five thousand euros per square meter.
If you want a new building in Split, 50 square meters in Žnjan, you will pay 188 thousand euros or 3700 per square meter.
If you are looking for a new apartment in the center of Osijek, you will pass half cheaper, here for 96 square meters you are looking for 153 thousand euros or 1600 per square meter.
The Tax Administration sent us data for 2020, which say that Zagreb is convincingly ahead in terms of trade, and we had more than 12,000 sales of apartments and houses in the capital. It is followed by Osijek in 1933, Rijeka in 1647, and Split, where 1273 residential properties were sold. The 4 largest cities make up about a third of the Croatian real estate market, where 53,000 sales were concluded last year.