The property market in Croatia is continuing to blossom with prices rising almost on a weekly basis. And it isn’t only the seaside locations along the Croatian Adriatic that are catching the eye of home buyers, the capital is one of the boom markets.
Croatia was among the European Union countries in the second quarter with the strongest rise in residential property prices compared to the same period a year earlier, more than double the European average, estimates from the European Statistical Office showed on Monday.
The prices of residential real estate in Croatia rose by 10.4 percent in the second quarter compared to the same period last year. This further accelerated price growth on an annual basis, after 7.4 percent growth in the first three months of this year.
Only Hungary, by 14 percent, and Luxembourg, by 11.4 percent, recorded stronger year-on-year growth. The group still stands out for Portugal, with a price increase of 10.1 percent.
According to available data from the European Statistical Office, only Italy recorded a 0.2 percent fall in residential property prices compared to the previous year.
And one of the hotspots is the Croatia capital Zagreb, which has seen prices rising almost as fast as Dubrovnik, the most sought after real estate destination in Croatia. Whereas five years ago you could buy a large family house for the same price as an apartment in Dubrovnik this gap has closed considerably.