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Slovenes Take the Lead in Real Estate Purchases in Croatia Canva

Slovenes Take the Lead in Real Estate Purchases in Croatia

Written by  Jan 21, 2024

In a recent report by Jutarnji list, Slovenian homebuyers have surged to the forefront of real estate transactions in Croatia, surpassing German buyers who held the top spot the previous year. The study reveals intriguing trends in the Croatian property market, shedding light on shifts in buyer demographics and regional variations.

The comprehensive analysis, facilitated by the Ministry of Finance's new portal, showcases a nuanced picture of real estate dynamics across Croatia. Notably, 12 counties experienced a decline in real estate transactions last year, while nine others, mainly situated in the northern and eastern regions of the country, witnessed an upswing in property dealings compared to 2022.

Examining specifics, the capital city, Zagreb, reported 18,307 transactions in the past year, reflecting a 7.2 percent decrease from the previous year. Meanwhile, Split-Dalmatia County faced a more substantial decline, with a ten percent drop in real estate transactions, totaling 10,497.

A remarkable surge in real estate activity was observed in Varaždin County, where transactions soared by an impressive 52 percent, reaching a total of 5,309 contracts. Šibenik-Knin County closely followed suit, illustrating a positive trend in the real estate market.

The Tax Administration's data highlights 'various properties,' encompassing commercial, industrial, or trade buildings/complexes, and hospitality-tourist buildings, as the most sought-after assets, constituting a quarter of all transactions. Agricultural land and apartments claimed the next two spots, each contributing around 20 percent to the total transactions, while construction land secured the fourth position.

The role of foreign buyers in Croatia's real estate sector has been significant in recent years, particularly before the euro's introduction. While there's a slight overall decline in foreign purchases, Slovenian buyers have shown resilience, acquiring 3,392 properties, marking a notable increase from the previous year and securing the leading position in real estate acquisitions in Croatia.

This shift in the real estate landscape prompts reflections on the evolving dynamics within Croatia's property market and the changing preferences of both local and international buyers. As the market adapts, observers anticipate continued fluctuations and the emergence of new trends in the coming years.

The Voice of Dubrovnik

THE VOICE OF DUBROVNIK


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