Croatia: Real Estate Agencies Expect Price Drop

| 24 March 2010 |

Croatian Flag

A number of real estate agencies in Croatia have indicated that they expect property prices to drop in 2010, the Croatian Times reports.

Real-estate website CentarNekretnina.net surveyed more than 40 real estate agencies about the current and future situation in the market in March.

Forty-six per cent of them expect real estates prices to drop between nine and 15 per cent over the next year. Seven per cent expect prices to rise, and the rest believe they will stay unchanged.

Almost 50 per cent predict that prices will stagnate after Croatia joins the European Union, with a minimal decline along the Adriatic coast.

The survey has also revealed that most of the agencies advertise themselves mainly on the internet and in newspapers.

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Comments:

Croatian Property Prices
2010-03-25 12:12:03

There is absolutely not a hope in the world that croatian property prices are going to rise in the next 12 months or 24 months for that matter. ok seasonally adjusted figures might produce some variations and various largely unqualified sources that base their research on advertised prices will suggest otherwise but the downward trend is a 100% given. And rightly so, property prices in Croatia are too high period, this is excluding property in the absolute best lcoations which probably represents less than 1% of the market anyway. So if you are a motivted sellers and want to sell a property in croatia you need to adjust your price by at least 20% from the advertised price of similar properties. If, like many, you are not motivated then you can be pretty certain you will wait at least 5 years and perhaps 7 to get the advertised price i.e it will take 5 to 7 years for prices to rise by 20% from the current true sales value.

Price of homes
2010-04-02 17:10:21

As a US national married to a woman from Croatia, it was my intent to stay in Zagreb for years. Albeit after pricing homes in Zagreb I have now decided not to buy here or stay in Croatia. Homes and flat sale pricing is exceedingly high, as are the banking interst rates as well as the fraud and corruption we have seen. The smart buyer will never buy here

Croatia prices
2010-04-15 17:39:52

It was about time. Prices are too high and generally real estate is overvalued. I'm talking about istria where I bought old stone house. It is beautifull, countryside, coast, towns, good communications, good climate, but on the high side. In approx. 10 years, though, migh look as mini-tuscany or provance.

Corruption
2010-04-23 15:30:04

While I agree that the fraud and corruption is definitely a huge problem in Croatia, I disagree with Eugene Barnhard on the advise that buyers should stay away from Croatia. There is no more fraud and corruption than in the United States (hello Madoff, can you hear me now?), yet buyers are not discouraged. Mr. Bernhardt, please clean up the garbage in your own house before you start telling others to clean theirs. Thank you.

Fraud
2010-05-12 19:43:09

Dear Dejan - you have to watch TV news in Croatia and more importantly independent media to see what is really going on in Croatia re: minority rights, real estate values, fraud, same property sold to multiple buyers (mul;tiple times) without having a clear title on the property. You have to know that "building permits" there are given to "selected few" i.e. the ones that belong (or have ties to) the currently ruling party. HDZ gave building permits to people who built large properties worth millions of Euro - only so that the new government can come in with bulldozers and tear it down. and vice versa. The political saga continues in this corrupt BALKAN country. Croats want to enter into EU but still behave like Balkans!! Also, please comment what property rights, or any rights for that matter, have Croatian orthodox population after the latest war -a fetr Croatia kicked out 100's thousands of orthodox civilians that lived there for centuries!? Corruption or worse?

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Croatia: Real Estate Agencies Expect Price Drop