The Croatian real estate market has been in gradual decline since 2008, and the Chairman of the Real Estate Brokers Association says that the trend will continue in 2013.
“Prices will continue to drop this year, but, only for certain properties, given that some have already reached rocked bottom. We are talking about real estate in good locations where prices will continue to fall heavily,” said Dubravko Ranilovic.
The state of the real estate market is Split and Dalmatia is even worse than the rest of the country, writes Slobodna Dalmacija, saying that the market in that region has experienced an average price drop of up to 20%.
Many think that Croatia’s entry into the EU will turn around the negative trend, but the reports says that there is no sign that it will happen, pointing to the fact that citizens from EU nations have been able to purchase property in Croatia since 2009.