Property prices across Croatia rose by 26 percent from 2010 to the second quarter of 2021, according to new data from Eurostat, whilst the price of renting rose by half as much at 13 percent.
Croatia has one of the largest home ownership percentages in Europe, in fact the Home Ownership Rate in Croatia averaged 89.67 percent from 2010 until 2019. This percentage generally means that the real estate market in Croatia is largely buoyed by foreign buyers and people purchasing second homes or apartments to rent.
According to the Eurostat survey in the just over ten-year period from 2010 to the second quarter of 2021 property prices across the European Union rose on average by 34 percent, whilst rent prices rose by 16 percent. Meaning that property prices in Croatia rose slightly slower than the EU average. Although it must be taken into account that some EU countries saw an absolute boom in house prices, in Estonia prices climbed by an incredible 133 percent and in Luxembourg by 111 percent. Whilst on the other hand some EU countries saw housing prices tumble, in Greece by -28 percent, in Italy by -13 percent and in Cyprus by -8 percent.
House prices in Croatia increased by the most in recent years, residential real estate prices rose by 6.5 percent in the second quarter of this year compared to the same period last year, the strongest since the fall of last year.