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50 percent increase in foreign citizens buying real estate in Croatia

Written by  Apr 27, 2022

Last year, foreign citizens bought 9,514 properties in Croatia, which is a high increase of 50 percent compared to 2020, Jutarnji list has learned from the Tax Administration.

According to the same source, the highest year-on-year growth in the purchase of domestic real estate among foreigners was achieved by citizens of Germany, Austria and Slovenia.

Last year, German citizens bought 2,637 properties in Croatia, which is an increase of 1,089 sales or as much as 70 percent compared to 2020, Austrians made 1,109 purchases (472 more properties or an increase of 74 percent compared to 2020), while Slovenians last year became the owners of 2,309 properties in our country, achieving an increase in purchases compared to the previous year by 32 percent or 550 more properties.

Foreign buyers pushing up prices of real estate in Croatia

"The data do not show the total purchase and sale of real estate in 2020 and 2021, but it is exclusively the purchase and sale of real estate for which the Tax Administration conducted the procedure of determining the tax base. In addition, the data on real estate sales are still being updated and the submitted data are subject to changes,” the Tax Administration notes and hints that in the end the growth in the number of real estate sales made by foreigners in Croatia could be even higher.

In any case, the registered growth of foreign demand for domestic real estate confirms the recent allegations of entrepreneurs and real estate market experts who told Jutarnji list that the increased interest of foreigners in domestic real estate is one of the reasons for unprecedented growth in new apartment prices in the last quarter of last year.

Namely, according to the calculation of the Central Bureau of Statistics, the purchase prices of new dwellings in the last quarter of last year were 15 percent higher than the prices realized in the last quarter of 2020, such growth has not been recorded in the last decade. In addition, the average prices of all residential real estate purchases in 2021 were 7.3 percent higher than in 2020, writes Jutarnji list.

The Voice of Dubrovnik

THE VOICE OF DUBROVNIK


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