ZAGREB, 9 July 2021- In 2020, there were 103,000 transactions on Croatia's real estate market, or 7.7% fewer than in 2019, probably due to the COVID-19 pandemic to some extent, however the total value of real estate reached HRK 40 billion, 0.5% higher than in 2019.
The value of real estate transactions was equivalent to 11% of Croatia's Gross Domestic Product, and these figures were outlined at a news conference held in Zagreb on Friday on the occasion of the presentation of the annual publication "Croatia's 2020 Real Estate Market Overview", prepared by the construction and physical planning ministry and the Zagreb Institute of Economics (EIZ).
The ministry's state secretary, Željko Uhlir, said the residential real estate segment had the largest share in the market in terms of value of transactions, however most transfers were on the market of farmland and construction land and plots.
Every one in three transactions (33.3 %) were on the farmland market, and 16% of all transactions were sales of construction land.
Commenting on price rises, Ivana Rašić of the EIZ said that in 2020, the biggest increase in prices when it came to the real estate market were registered in the Adriatic counties of Croatia and in the capital city of Zagreb.
"The median flat price per square metre for the whole of Croatia was approximately HRK 9,600 in 2020," she said.
In Dubrovnik, for instance, the median flat price was HRK 19,000 per square metre and in Zagreb about HRK 11,000, she added.
Demand for new residential properties rose across the country, however houses in Zagreb, Split Rijeka, Pula and in their environs were also in high demand, Rašić said.
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