August the 2nd, 2022 - More and more would-be buyers are seeking out land on which they can construct something for themselves as Croatian property prices continue to soar to extremely high levels.
As Poslovni Dnevnik writes, Croatian property prices and their constant increases are apparently unstoppable at this moment in time, but despite the wildly overpriced square footage, demand is far from abating. In addition to houses and apartments, in the last two years ,there has been a significant increase in interest in building land, as reported by HRT.
For two years, Stefano Ladavac intensively searched for construction land in the very heart of Istria. The offer is weak, and the prices have never been higher, he claims. He now considers a plot of land in Sveti Petar u Sumi perfect for the construction of two villas that he will rent out when they're completed.
"We're absolutely satisfied with the price we got, we paid 22 euros per square metre, and approximately the initial average price of construction land in Sveti Petar u Sumi is 40 euros per square metre, so we did very well in that regard,'' said investor Stefano Ladavac.
There isn't much choice to pick from in the City of Zagreb either. The seller of land near the capital's Franjo Tudjman International Airport is asking for 65 euros per square metre. The price is dictated by the market, and according to the market as it is at the moment, that price is very realistic. At the same time, it is twice as high as it was when the construction land was purchased six years ago.
Cheap borrowing encourages buying, and with the current inflation rate as it is, money invested in property will not lose value. Building plots are most in demand in the cities of Zagreb, Split and Zadar, and Croatian property prices for all types of building are at record highs.
"I don't see a situation in which Croatian property prices will come down in the foreseeable future. The market is active, so I think it will continue in this way, given the country's imminent entry into the Eurozone," said real estate agent Mia Vucic.
The latest data from Eurostat shows that Croatian property prices increased by thirteen and a half percent in the first three months of this year alone when compared to the same period last year, which is above the European Union (EU) average.
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