Whilst the Covid-19 pandemic caused chaos in the travel industry this year it would appear that the real estate market in Croatia is more resilient.
In the second quarter of 2020 property prices across Croatia rose by 1.8 percent compared to the first quarter of the year, and when compared to the second quarter of 2019 they increased by 8.3 percent. New figures released by the Croatian Bureau of Statistics measured the current real estate market in Croatia using the house price index and it clearly shows that property prices are still climbing.
The price of new builds increased by on average 3.4 percent when compared to the first quarter of 2020 and 4.5 percent compared to the second quarter of 2019. Whilst older buildings increased by 1.6 percent compared to the first quarter of the year and 8.8 percent when compared with the same quarter from last year.
The City of Zagreb, which has been an “in” destination for a few years, saw the highest increase in real estate prices. The average price of property in the capital climbed by 8.7 percent, when compared to the second quarter of 2020, whilst on the Adriatic property prices rose by 5.9 percent.