Croatian Real Estate Prices in 2016

Croatian Real Estate Prices in 2016

How much for sea views and for sea proximity? How does the price trend compare to last year?
Regional differences are an important factor.
Extensive study of real estate prices on the Croatian Adriatic coast and the main islands

Panorama Scouting has published an extensive study on the current real estate prices in Croatia’s Adriatic region, just before the start of the tourist season.
From 12/15 - 02/16, a total of 4,872 houses/villas and flats/apartments in Croatia’s coastal regions and major islands were surveyed. In addition to prices, other factors were taken into account, such as living space in sqm, city / region, whether the objects had a sea view or not, as well as the distance from the sea (0m-20km). We excluded identifiable properties needing renovation, unfinished buildings and land plots.

Main findings from the study:

1. The average price level of about € 2,050 / sqm for all properties is extremely attractive to buyers who are looking for property on the Mediterranean coast in a relatively stable EU country.

2. While the price of real estate without sea view (esp. apartments) again declined noticeably, the negative trend since 2008 for properties with sea view has clearly turned around since spring 2015. On average, prices in this category rose by about 5%. Since March 2015 there has been a very significant increase for houses / villas with sea views, whilst for apartments with sea views the demand increased from August / September last year.

3. In early spring 2016 the average prices for houses / villas with sea views amounted to € 2,400 per square meter. For apartments, it was a little less: € 2,200. If buyers can do without a sea view, they pay less: the average difference for houses is € 700 / sqm and about € 300 / sqm for apartments.

4. For locations in absolute proximity to the sea, there are significant premiums to be paid: taking the average prices of all properties situated more than 150m from the sea as a basis (€ 1,850 / sqm), buyers have to pay about 1,200 € / sqm more, i.e. over € 3,050 /sqm for ‘seafront’ locations (0-30m). For those that are still ‘close to the sea ' (31-150m), the impact on prices of 300 € / sqm is moderate.

5. Price levels are subject to significant regional differences; the lowest average price level is found in central and southern Kvarner Bay, along with the islands of Rab and Pag, as well as certain areas of Northern Dalmatia. In contrast, buyers pay on average about € 3,100 to 3,400 / sqm for properties in Dubrovnik and Opatija. These are extravagant prices by Croatian standards, but are just average price levels for other Mediterranean destinations (e.g. Mallorca, France).

More information is available at http://www.panorama-scouting.com/property-prices-croatia-2016

Panorama Scouting offers real estate on the Croatian Adriatic coast.

Panorama Scouting
Friedrich-Ritter-Str. 19a
D- 83064 Raubling
T: +49 8035 955 9306
info@panorama-scouting.com
www.panorama-scouting.com

This release was published on openPR.