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Average Apartment Price Down 9% This Year

Zagreb-17The average realised price for an apartment in Croatia has fallen 8.89% from the last year, according to the President of the Real Estate Association at the Croatian Chamber of Commerce Dubravko Ranilović…

Ranilović, speaking at the 22nd Real Estate Forum, said in Croatia’s largest market, the capital Zagreb, the average realised price for an apartment had dropped 9.4% from 2013, and now sits at 1,377 euros per square metre. Meanwhile the average price for an apartment on the Croatia’s Adriatic coast had risen slightly from last year – up 0.95% to 1,588 euros per square metre.

Ranilović stressed that Croatia’s grey economy, and the inability to control undocumented real estate agencies within the legislative framework was a problem for the real estate market in the country. Because of that it was hard to gauge exactly what the market has been doing, but he did indicate that there were visible signs that the market would grow slightly in 2015.

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