It is cheaper now to purchase an apartment in Zagreb than it was back in 2006 as real estate prices continue to tumble in the Croatian capital, hitting 8-year lows last month.
The average sought after price per square meter today in Zagreb is 1,657 euros, nearly 400 euros per square meter cheaper than it was back in 2007.
“The crisis has played its part, a large number of people have been left without a regular income and there are those in fear that tomorrow they will be in the same position. Banks have also tightened up lending criteria. Spending power has diminished,” said independent economic analyst specialising in the real estate market Tamara Rilovic.
Despite the average house price in Zagreb rising, houses still remain around 500 euro per square metre cheaper than apartments in the capital, writes Dom & Vrt.
Trends in average apartment and house prices in the last 8 years in Zagreb:
2006. 1760 eura/m² (apartment) 1154 eura/m² (house)
2007. 2061 euro/m² (apartment) 1149 eura/m² (house)
2008. 2038 eura/m² (apartment) 1158 eura/m² (house)
2009. 1987 eura/m² (apartment) 1255 eura/m² (house)
2010. 1973 eura/m² (apartment) 1272 eura/m² (house)
2011. 1757 eura/m² (apartment) 1161 eura/m² (house)
2012. 1738 eura/m² (apartment) 1123 eura/m² (house)
2013. 1657 eura/m² (apartment) 21168 eura/m² (house)