Home » Business » Croatian Property Market In Decline

Croatian Property Market In Decline

There have been further falls in the Croatian property market. The average price of apartments in Croatia has dropped 0.5 percent on monthly levels, 1.3 percent on yearly, and 3.9 percent compared to October 2010, according to data from Croatian Real Estate portal Crozilla.

The average price of apartments, since 2008, have fallen 16 percent. The northern Adriatic town of Pula (1406 euros per square meter) and the popular tourist destination of Dubrovnik (3048 euros) have experienced the greatest drop in average prices. Whilst on a yearly level, Zagreb (1714 euros) and Rijeka (1464 euros) have been the hardest hit.

In Rijeka, during the month of October, average prices per square meter had dropped 2.2 percent compared to the previous month as demand dries up. Statistics reveal that month on end prices have been slowly dropping in Croatia, with only the brave prepared to take out hosing loans.

Share on:
0 / 5 (0 votes)

Sign up to receive the Croatia Week Newsletter

Related Posts

First Smart Public Pay Phone in Croatia is Placed in Zadar

The first smart pay phone in Croatia has been presented in the city of Zadar on the Dalmatian coast on Tuesday. Apart from phone calls, the smart pay phone booths will offer locals and tourists a range of different services, including Wi-Fi access, local information, and the ability to buy phone credit and parking and...

Top 10 Companies in Croatia Revealed

The Top 10 companies in Croatia based on revenue generated have been revealed with oil giants INA again topping the list. INA, who has been the number one firm based on revenue in Croatia for the last 10 years in a row, generated 15.1 billion kunas in revenue last year, putting it at the top...

[PHOTOS] New One Suite Hotel Opening in Dubrovnik in Summer

A new hotel is set to open near Dubrovnik this summer. One Suite Hotel, which will open its doors in June 2017, is located in Srebreno, half way between the Old City of Dubrovnik and Dubrovnik Airport in Čilipi. Architect and urban planning studio 3LHD Architects are behind the new development in Srebreno. “The building...

TUI Eyeing Brač Airport Base

Multinational travel and tourism company TUI Group, who have their headquarters in Hanover, Germany, are set to open an airline base on Croatia’s Dalmatian coast at Brač Airport next year. “TUI will have a small base in Brač. This is a logical step because of the situation in Africa and Turkey, as well as Croatia’s...

IKEA Set to Open in Split this Summer

Swedish retail giants IKEA are to expand in Croatia by opening on the Adriatic coast in Split. Late last year IKEA confirmed that they would be opening a delivery centre, or ‘pick-up point’, in the Dalmatian city of Split. The outlet will be part showroom and part warehouse where customers are able to order, pay...

Leading Croatian Bakery Chain Opens in Frankfurt

  Croatia’s oldest and largest bakery chain has opened its first franchise outlet in the German city of Frankfurt. Mlinar, which has over 200 bakeries around the world, have opened its first store in Frankfurt this week at the city’s central bus station. The bakery in Frankfurt, branded Mlinar, is set out exactly the same...