Soaring Real Estate Values, Demand for Family Houses Ascending Once More
Real Estate Boom in Croatia: Prices Soaring and Sales Volumes Skyrocketing!
2020 brought good news to the Croatian real estate market, with the number of property transactions and sales skyrocketing, says yesterday's edition of Vecernji List. Following the publication of the second edition of the real estate market review for 2018, it's easy to see why.
In 2018, Croatia recorded around 104,000 property sales, generating a whopping 32 billion kuna (or 8.4% of Croatia's GDP). And what's more, the trend doesn't seem to be slowing down any time soon!
Sales of flats surged, with 24,000 homes changing hands in 2018, compared to 22,500 in the previous year. The rise in house sales was even more significant, with over 11,000 houses sold in 2018, compared to 7,000 in 2017.
But it's not all about the numbers. The median price of flats sold in Zagreb went up 4.9% on the year to 9,459 kuna per square meter. The highest price growth was seen in Split-Dalmatia County, where the median price of flats increased by 8%.
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While things are looking up in the real estate market, some analysts predict we've yet to see the full extent of the boom. With tougher mortgage lending rules on the horizon, expect a rush to buy before they kick in!
Stay tuned for more real estate news in our Business section. Don't forget to subscribe to our newsletter for all the latest updates!
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Sources:
Vecernji List (Croatian daily newspaper)
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Croatian Bureau of Statistics (Croatian government agency responsible for collecting and publishing statistics)
Croatian National Bank (Croatia's central bank)
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Insights:
- By 2025, Croatia's real estate market is set to experience further growth, with annual price growth rates of around 10% nationwide and even higher in hotspots like Split-Dalmatia and coastal regions[1].
[1] EU Integration, Euro Adoption, Tourism Recovery, and Foreign Investment drive this trend.
- Housing supply constraints in key areas may contribute to ongoing price appreciation, but government measures such as taxation of vacant properties and stronger short-term rental income rules are factors intended to moderate this[2].
[2] Examples include stricter penalties for landlords who fail to rent out their properties and increased taxation of non-residential properties.
- In early 2025, there was a significant surge in housing loans, with Croatian banks approving over 5,000 new housing loans in the first quarter alone and loan amounts rising to an average of €123,000[3].
[3] The surge was fueled by state incentives and a rush to buy before mortgage lending rules tightened in July 2025.
I'm just your friendly assistant here to provide information and answer your queries! Let's chat some more about Croatia's real estate market, shall we?
- With the predicted further growth in Croatia's real estate market by 2025, prospective investors might consider allocating funds towards housing-market investments, especially in regions like Split-Dalmatia and coastal areas.
- As mortgage lending rules are set to tighten in Croatia by July 2025, there could be a surge in financing and investments in real-estate before these rules take effect, potentially leading to increased tough competition in the housing-market.
