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Croatian Property Market Falls Again

CroatiaProperty prices have again fallen in October in Croatia, continuing a negative trend this year which has seen prices fall 4.9%. Prices fell 0.7% in October compared to the previous month as sellers struggle to find buyers in the market.

Property prices in the capital Zagreb fell 1.2% in October when compared to September, and 6.6% when compared to prices in October 2012. The average sought-after price for an apartment in the capital in October was 1,572 euro/m2, 1.4% down from September and 6.5% from October last year. In only two suburbs in Zagreb are the average sought-after prices above 2,000  euro/m2 – in Medveščak and the centre. The cheapest apartments can be found in Sesvete, where the average sought-after price is 1,197 euro/m2.

Whilst prices have fallen in Zagreb, bigger falls have been experienced on the Dalmatian coast where apartments in the city of Split have fallen 10.8% in one year. The average sought-after price for a house on the Adriatic coast in October was 1,538 euro/m2, 3.3% less than in October 2012.

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