Once Croatia’s cheapest city for housing, Vukovar sees strong price rises

Vukovar (Photo credit: Bybbisch94, Christian Gebhardt/CC BY-SA 4.0)

Once known as one of the most affordable cities in Croatia to buy a home, Vukovar’s real estate market has seen a sharp turnaround in recent years.

Until the COVID-19 pandemic, Vukovar’s property prices were among the lowest in the country.

A decade ago, a fully furnished 55-square-metre flat in Borovo Naselje sold for just €12,000, while large houses with gardens could be bought for around €30,000 – although finding a buyer was often difficult, Večernji list reports.

Today, the situation is quite the opposite. Flats are now in short supply, and when one does come on the market, it is quickly sold. Houses remain more available, but prices have also increased considerably.

Despite steady price increases, property in Vukovar remains significantly cheaper than in nearby Osijek or Vinkovci.

“Prices have risen noticeably in recent years, but we’re still behind Osijek and Vinkovci,” said Ružica Dufek, owner of the real estate agency Vukovarka, speaking to Večernji list.

According to Dufek, the average price per square metre in Vukovar is around €1,500, depending on the location, condition and amenities. Some flats sell for less, while the highest recorded price so far has reached €2,000 per square metre.

Her agency recently sold a 68-square-metre apartment for €95,000 – around €1,400 per square metre. “Ten years ago, I sold one for only €270 per square metre,” she recalled.

When it comes to family homes, there is no strict pricing pattern. Factors such as the part of town, level of renovation, insulation, and proximity to schools and kindergartens all influence the final price.

“Homes rebuilt after the Homeland War used to sell for around €20,000. Now, those same houses go for between €40,000 and €50,000,” Dufek explained.

Bargains Still Possible in Surrounding Villages

In contrast, rural properties in the surrounding villages remain extremely affordable.

“House prices in nearby villages are almost symbolic – for very little money, you can buy a lovely home with a yard,” said Zoran Kojić, owner of Slavonika Nekretnine.

“The problem is that very few people are selling.”

Kojić also noted that Vukovar’s real estate market remains somewhat unregulated, with property values depending on numerous factors.

Even so, flats in Vukovar are still roughly half the price of those in Osijek, and around 30–40% cheaper than in Vinkovci.

Vukovar’s famous Water Tower

Prices for building land vary widely, from around €30 per square metre to nearly four times that, depending on location and zoning. Agricultural land, however, is scarce, typically priced between €12,000 and €15,000, except for plots near major roads, which command higher prices.

Once overlooked, Vukovar is now experiencing a quiet property boom, fuelled by limited supply and growing interest from both local and regional buyers.

While it remains one of Croatia’s most affordable cities to live in, the days of bargain-basement property prices in Vukovar appear to be over.