Croatia property prices are continuing to grow at an annual level with property becoming more and more sought after, according to new research from Njuskalo.
Croatia property offers a plethora of alternatives to high prices in Zagreb, with the property market on the rise nationwide. Njuskalo recorded a nationwide rise in the number of detailed property listings, which stood at 16 million in August this year. Year on year, the apartments listed cost approximately 7 per cent more. Houses are 4.5 per cent more expensive.
Apartments also stand at 3.5 times more expensive than 2011 levels, demonstrating that the property market recession is far behind us. Dubrovnik continued to pull ahead with the average apartment price at €3,811 per square metre. The average asking price per square metre for houses stands at €4,663.
In Split, the average price per square metre in an apartment is €2,744 while for houses it is €2,900. For apartments, this price has risen a sizeable 13 per cent in just one year.
In Zagreb, the country’s capital city, the average house price is 33 per cent higher per square metre than apartments. Apartments amount to approximately €1,279 per square metre. The demand for housing in the capital is up 10 per cent year on year. Similarly, the Dalmatian city of Zadar has recorded annual growth of 12 per cent.
Geographically, it is fairly evident that the top cities for Croatia property are those located along the coast along with Zagreb. In contrast, the cities that perform less well are located in Eastern Croatia. For example, the average price per square metre of an apartment in Slavonski Brod is just €794. For a house, the approximate price is €640.
For overseas property investors who now consider prices per square metre in Zagreb to be too high, nearby towns could offer a viable alternative. For example, in Velika Gorica prices stand at around €1,200 per square metre.