Resicom – Holiday Investment – 04-21 – LB

Apartments Continue to Out-Price Houses in Croatia

Apartments continue to out-price houses in Croatia, with the only exceptions being Dubrovnik and Poreč.

The latest property data from Crozilla showed that average prices of advertised houses rose by 0.8 per cent in November. When comparing them to apartments, which are still more expensive than houses, the difference was almost 21 per cent.

However, Dubrovnik, with a difference of 10 per cent, and Poreč with 2.5 per cent, remained, as they did in previous months, rare cities in which houses were more expensive than apartments.

The biggest monthly increase was recorded in Dubrovnik, where prices rose 5.8 per cent, so the value per square metre in a house, with the price of a garden included, rose to 4,145 euros.

Poreč is considerably cheaper with an average price per square metre of 1,911 euros was requested, which is 0.4 per cent more than it was during the previous month.

Other towns showed a far larger difference, with apartments outpricing houses by a considerable amount.

The biggest difference in prices during November were in Bjelovar, where houses were more than 44 per cent cheaper than apartments, and then in Osijek where the difference was 39 per cent, followed by Varaždin, at 36.3 per cent.

The average house price in Bjelovar was only 434 euros per square metre, which is 0.9 per cent less than the month before. In Osijek, their value rose by 1.2 per cent to 587 euros. The data also showed that houses in Varaždin increased by 0.6 per cent on average to a new high of 713 euros per square metre.

Zagreb saw house prices almost 34 per cent lower than apartment prices, and the price per square metre was 1,261 euros on average, representing a monthly increase of 0.7 per cent. In Slavonski Brod houses were 634 euros per square metre, which is almost 21 per cent less than the price of apartments.

Opatija house prices fell by 1.1 per cent to 2,216 euros, which is almost 25 per cent less than the advertised apartment price. There was a similar difference in the prices of houses and apartments in Šibenik, where the average square metre price in a house averaged 1,529 euros, which is 0.1 per cent less than it was during the previous month.

In Zadar houses rose by 0.5 per cent in November, but remain around 23 per cent cheaper than apartments, while in Split the difference is only about 15 per cent following a 3.8 per cent monthly rise in house prices.

Overseas property investors considering Croatia will find considerable fluctuation in the prices of house and apartments.

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