Croatia Property Price Trends - May 2009

Several reports have been released this week tracking prices of property in Croatia.

Jutarnji List, the leading Croatian daily newspaper reported that according to research conducted by CentarNekretnina.net, the average gap between Croatian property asking prices and actual property selling prices is around 15%, whilst in some cases buyers can negotiate a purchase price up to 20% lower than the initial property asking price.

In their research, CentarNekretnina.net state that the asking price of the average Croatian coastal apartment increased 2.4% in the last 12 months, whilst the asking price of coastal houses and villas dropped by 1.4%. It seems that in real terms, prices are dropping as the gap between property asking prices and agreed sales prices has widened.

Property Price Gap Across the Adriatic

CentarNekretnina.net also reports that the difference between Croatia apartment property prices on the northen Adriatic and the middle and Southern Adriatic is about 25%, with northen properties being cheaper.

The average asking price per sq.m. of apartment on the northen Adriatic in April was 1912 EUR / sq. m. whilst on the Southern Adriatic the asking price was 2422 EUR / sq.m.

The northen Adriatic covers Istria and the Kvarner gulf, which includes Krk island, whilst the middle and Southern Adriatic covers the Dalmatian counties of Zadar, Sibenik and Split as well as Dubrovnik county.