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Home sales in Croatia decreased by 7% in 2023

26.01.2024
Homesoverseas.ru editorial office
154

Real estate sales in Croatia in 2023, according to incomplete data from the Tax Administration so far, fell by about 7%, that is, about 6,000 fewer apartments and houses were sold in the country than in 2022.

In the 3rd quarter of 2023, Croatia remained the EU record holder for property price growth (+10% year-on-year). However, Eurostat claims that even here prices are rising more smoothly than in previous months. Compared to the 2nd quarter, they rose by only 0.3%.

The slowdown is also present at the annual level - from 13.7 to 10.9%, but this is still minimal changes, if we take into account that since 2015 prices in Zagreb have doubled, and on the Adriatic have jumped by almost 70%.

Keeping prices at a high level could not but affect the behavior of buyers who behaved more cautiously last year.

In addition, last year foreigners purchased 2,000 apartments and houses of real estate less than in 2022 - slightly less than 7,400 objects compared to 9515 units in 2022. In 59,000 cases, the buyers were local residents.

Some statistically moderate price reduction is visible in the 3rd quarter of 2023. Compared to others, only real estate in Zagreb has risen in price by 2.4%. In the Adriatic, prices fell by 1.4%, and in other parts of Croatia by 1.9%.

The highest rates of price growth in the EU, which took place in Croatia at the end of the 3rd quarter, are associated with inflation, a successful tourist season, the country's entry into Schengen on January 1 last year and high demand from foreigners. Apparently, by the end of the year, part of the potential of these factors had been exhausted.

Source: Poslovni

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