After six long years of house price falls, Croatia\u2019s property market is now recovering, with the economy improving.<\/p>\n
During 2015, the average price of new dwellings sold in Croatia was HRK10,688 (\u20ac1,420.60) per square metre (sq. m.), up by 1.6% (1.9% inflation-adjusted) from a year earlier, according to the Croatian Bureau of Statistics (CBS).<\/p>\n
In Croatia\u2019s capital, Zagreb, the average price of new dwellings sold dropped slightly by 1.3% (-1% inflation-adjusted) y-o-y to HRK11,797 (\u20ac1,568) per sq. m. in 2015.<\/p>\n
In other settlements, the average price of new dwellings sold rose by 3.6% (4% inflation-adjusted) y-o-y to HRK9,617 (\u20ac1,278) per sq. m. over the same period.<\/p>\n
During the year to end-February 2016, the average asking price of flats in Zagreb increased 1.01% to \u20ac1,598 per sq. m., according to CentarNekretnina.<\/p>\n
The Adriatic Coast performed spectacularly, with the average asking price of flats surging by 15.57% y-o-y to \u20ac1,826 per sq. m. in February 2016, thanks to increasing interest from international homebuyers.<\/p>\n
Croatia\u2019s property market has been depressed for years, as the global financial crisis and the eurozone crisis, hit the country\u2019s tourism-oriented economy.<\/p>\n
In 2009, the national property price index fell 4.32% y-o-y (-6.16% inflation-adjusted)
\nIn 2010, the national property price index fell 8.91% (-10.55% inflation-adjusted)
\nIn 2011, the national property price index fell 1.59% (-3.6% inflation-adjusted)
\nIn 2012, the national property price index fell 4.37% (-8.64% inflation-adjusted)
\nIn 2013, the national property price index fell 14.36% (-14.6% inflation-adjusted).
\nIn 2014, the market started to recover, with the national property price index increasing by 1.22% (1.69% inflation-adjusted)<\/p>\n
This coming year \u201cthe average property price is expected to slightly increase due to landmark projects already on the market and coming to the market,\u201d said Colliers International. \u201cThe Croatian real estate sector expects several developments and transactions in 2016, underpinned by better economic climate, yield opportunities and improved investor sentiment.<\/em>\u201d Moreover, demand from wealthy European homebuyers is expected to increase.<\/p>\n After six years of economic recession, Croatia\u2019s economy grew in 2015, with GDP growth of 1.6%, thanks to strong tourism on its Adriatic Coast. The economy is expected to expand by 2.1% this year, the highest growth since 2007, according to government estimates.<\/p>\n","protected":false},"excerpt":{"rendered":" After six long years of house price falls, Croatia\u2019s property market is now recovering, with the economy improving. During 2015, the average price of new dwellings sold in Croatia was HRK10,688 (\u20ac1,420.60) per square metre (sq. m.), up by 1.6% (1.9% inflation-adjusted) from a year earlier, according to the Croatian Bureau of Statistics (CBS). In […]<\/p>\n","protected":false},"author":9,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8,1],"tags":[],"class_list":["post-1709","post","type-post","status-publish","format-standard","hentry","category-see-news","category-uncategorized"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p9PjAq-rz","_links":{"self":[{"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/posts\/1709","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/comments?post=1709"}],"version-history":[{"count":0,"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/posts\/1709\/revisions"}],"wp:attachment":[{"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/media?parent=1709"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/categories?post=1709"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/tags?post=1709"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}