ZAGREB, January 4, 2020 - The real estate market, at least judging by asking prices, is returning to the pre-crisis levels, with increases in both the volume of trading and number of transactions, Večernji List daily says in Saturday's issue.

The Zagreb Institute of Economics and the Construction Ministry have published the second edition of the real estate market review for 2018 which shows there were 104,000 real estate sales and that the value of the properties sold totalled 32 billion kuna, which is 8.4% of Croatia's GDP, the daily says.

The sale of farmland dominated with nearly 40,000 transactions but the value of the land sold dropped from 2017 to 1.6 billion kuna. About 13 billion kuna was generated in flat sales, followed by 6 billion kuna in construction land sales and 5.7 billion kuna in family house sales.

In 2018, the number of flats which changed owners increased by 1,500 to 24,000 and that of houses sold by 4,000 to over 11,000.

An analysis of sales contracts does not reflect a dramatic increase in property prices, which might be concluded from asking prices. In Zagreb, the median price of flats sold in 2018 went up 4.9% on the year to 9,459 kuna per square metre.

As for other parts of the country, the highest price jump was recorded in Split-Dalmatia County (+8%) with the median price of 11,669 kuna per square metre, followed by Istria County (+6.7%) with the median price of 8,722 kuna.

As for family houses, the highest median prices in 2018 were recorded in Dubrovnik, 12,000 kuna per square metre. The price of a square metre of a house in 29 coastal and island towns and municipalities ranged from 5,000 to 10,000 kuna whereas in 190 towns and municipalities in continental Croatia the price was below 1,000 kuna, Večernji List says.

More real estate news can be found in the Business section.

ZAGREB, December 17, 2019 - Flat purchase usually requires more financial effort than the purchase of a house of the same area, including the yard, and in November the difference in their advertised prices was an average 21.5%, show data published by the Crozilla.com real estate website on Tuesday. The increase in flat prices has resulted in an increase in demand for houses in many towns, which in turn has resulted in an increase in house prices, with the highest annual growth in the value of houses of 9.5% having been recorded in Split, and the highest increase in flat prices having been recorded in Umag, of 8.8%, Crozilla representatives said.

As regards the difference in flat and house prices, it is particularly high in the northern Adriatic resort of Opatija, where the asking price of a flat was €3,147 per square metre while the asking price of a house was €910 lower.

The value of houses in Opatija grew by only 0.9% on the year while flat prices grew by 6.8%.

Crozilla data show that flats in Zagreb, whose average asking price was €2,063 per square metre, grew by 8.3% while house prices grew by 6.2%. The difference in their prices in November was €724 or 35%.

A major difference of 43.3% in price was reported in Bjelovar, where flats were advertised at a price of €756 per square metre while houses were advertised at €327 cheaper.

The difference between flat and house prices in Osijek stood at 37.2%, with flats advertised at an average price of €967 per square metre, while houses were advertised at €429.

In the most expensive city, the southern Adriatic resort of Dubrovnik, the asking price of a flat was an average €3,650 per square metre while the asking price of a house was only €23 lower.

Along with Dubrovnik and Opatija, among the more expensive towns was Split, with the asking price of a flat being €2,915 per square metre and the asking price of a house being €2,646.

Flats were cheaper than houses only in Poreč, where the price difference was only €16, and the average asking price of a flat was €2,003.

More news about real estate in Croatia can be found in the Business section.

October 16, 2019 - A trip to the Adriatic coast between Split and Trogir to Kastela for the latest TCN property of the week.

Between two UNESCO World Heritage Sites on the Adriatic coast lies a piece of Dalmatia that is often overlooked by tourists. Arriving at Split Airport, most passengers head into the city of Split, whose centrepiece is Diocletian's Palace, while those in the know looking to enjoy a warm and easy welcome on their first evening make the short journey to the gorgeous old town of Trogir. And between the two UNESCO sites and jewels of Dalmatian tourism lies seven villages known as Kastela, each with their own fantastic heritage and stone traditions, each with their own beaches. And largely overlooked by the many tourists who drive between Split and Trogir. 

And they are missing out, for Kastela is a fascinating place - here are just 25 things to know about Kastela, but there are many more things, including some great real estate opportunities close to the beach. The week's Trogstan Property of the Week comes from Kastel Stari, a gem for stone lovers close to the water.  

EXCLUSIVELY OFFERED BY TRGOSTAN:

A fantastic fully renovated stone property located 2nd row from the sea in Kastel Stari, of 300 sqm in total, two floors, on a 2764 sqm land plot, with a 45 sqm backyard, ideal for different purposes - residential/commercial, all connections, usage permit.

For more photos, information and to book a viewing, check out the original Trgostan listing.

ZAGREB, October 7, 2019 - In the second quarter of 2019, Croatia was among EU countries with the most marked increases in housing prices compared to the same period of 2018, and those price increases were more than two times higher than the European average, show figures released by the European statistical office Eurostat on Monday.

Prices in Croatia grew 10.4% in Q2 compared to Q2 2018. The growth of house prices thus picked up year-on-year, after a 7.4% increase in the first three months of 2019.

A more marked increase in housing prices was reported also by Hungary, +14%, and Luxembourg, +11.4%. In Portugal, housing prices grew by 10.1%.

According to available data, a year-on-year decrease in prices was reported only by Italy, of 0.2%.

Housing prices, as measured by the House Price Index, rose by 4.2% in both the euro area and the EU in the second quarter of 2019 compared with the same quarter of the previous year.

Compared with the previous quarter, prices increased in all member states for which the data were available. The highest increases were recorded in Latvia (+5.6%), Luxembourg (+5.1%) and Cyprus (+4.2%).

In Croatia, prices in Q2 grew by 2.6% compared to Q1, when they went up 3.5%.

None of the countries reported a quarterly decrease in prices.

At the EU level, housing prices in Q2 grew by 1.6% from Q1, when they grew by 0.4% according to revised data.

The quarterly increase in prices was even faster in the euro area, of 1.7%, as against a 0.3% increase in Q1.

More real estate news can be found in the Business section.

September 18, 2019 - TCN is off to the birthplace of Marco Polo for the latest Property of the Week, a rare chance to buy in the idyllic old town of Korcula. 

It is, quite simply, one of the most divine places on the Adriatic coast, a small stone settlement of such perfection and heritage that it is impossible not to fall in love with it at first sight. 

Take a moment to appreciate its majesty from this early morning stroll in April this year.

A destination which is taking the right approach to tourism - quality over quantity, with a focus on its indigenous strengths - culture, heritage, gourmet, sailing and nature. 

And now, a slice of historic Korcula could be yours! In the words of our friends from Trgostan: 

An old stone house in one of the most sought-after locations in the Adriatic, within the historic core of Korcula old town, on four floor and of 120 sqm net (indoor area), consists of a one-bedroom two-story apartment and two en-suite bedrooms, so it may function as three rental units or as a spacious three bedroom/three bathroom house, with old stone preserved details, fully and tastefully furnished and equipped, in a quiet street, but very close to the sea and all amenities, rarely on the market.

For more information, prices and to book a viewing, check out the original Trgostan listing.

To learn more about this magical island, check out the Total Croatia Korcula in a Page guide.  

September 2, 2019 - Meet Terra Adriatica, providing smart and effective solutions for resolving land issues in Croatia

Terra Adriatica has today launched its website www.terraadriatica.hr through which individuals of Croatian descent around the world can realize value from the sale of land with unclean title to which they have a valid claim. The website will provide users with an end-to-end solution by first providing the means to search online for potential rights to land that they may hold ahead of establishing clean title and eventually realizing value through its sale. This service will be offered at no upfront cost to the user.

Terra Adriatica has spent three years developing unique, Artificial Intelligence-based technology, automated processes and a deep understanding of how the law operates in order to solve a multitude of issues pertaining to Croatian land that, due to unclean title, cannot be sold and is therefore effectively worthless. The company is targeting an estimated latent value held in such land totaling anywhere between €5bn to €10bn which it hopes to release for the benefit of its owners and the wider economy.

“We founded Terra Adriatica to challenge what has long-held to be a fact in Croatia: that establishing clean title to some land is too hard, too expensive and too time-consuming to undertake” says Davor Lauc, Terra Adriatica Co-founder and Professor of Logic at Zagreb University, “..by leveraging recent and significant advances in Artificial Intelligence-based technology and Process Automation, we have developed a unique inexorable process that provides the solution to this issue.”

Aside from using technology to solve inconsistencies between multiple Croatian land registries caused by historic, political challenges, the Company is tackling the effect that mass migration has had in terms of being able to trace individuals with a valid claim who live abroad.

“Terra Adriatica is providing a solution to one of Croatia’s biggest and most persistent problems,” says Marko Buljan, Senior Associate at Sequoia Realty Services, Silicon Valley, CA, “Their platform simplifies the complex process of establishing clean title to land and will unlock tremendous opportunity for owners and real-estate investors alike. I look forward to their launch and fully support their quest to tackle what has until now been one of Croatia’s biggest roadblocks to investment.”

Users can start their journey with Terra Adriatica by registering via http://www.terraadriatica.hr to search for land to which they may have a valid claim. Terra Adriatica’s platform will correlate that information provided with millions of public records on the user’s behalf applying proprietary algorithms to generate a preliminary summary of land to which users may have a claim. If eligible, users can then enter into a fully transparent agreement to obtain clean title ahead of the sale of that land with all parties working together to achieve the highest possible value at sale - at no upfront cost to themselves.

August 29, 2019 - Continuing our look at the real estate offers on the Croatian coast, a trip to delightful Komiza on Vis.

It is one of the true treasures of Croatia's Adriatic coast - the island of Vis. Closed to the world as a strategic military base during the Tito years, Vis has remained reassuringly far away not to attract mass tourism, and it has become a haven for those looking for a little more quality and the authentic Dalmatian experience as it once was. You can learn more about the charms of the island in the Total Croatia Vis in a Page guide. 

And now you can own your own luxurious slice of this gorgeous island, with our friends at Trgostan explaining how:

EXCLUSIVELY OFFERED BY TRGOSTAN:

It is our pleasure to present to you  a unique offer of exclusive apartments in the center of Komiža, a magical place on the island of Vis. Komiža is a new hit destination on the Adriatic! Beautiful landscapes,  intact nature, stunning beaches and the atmosphere of an untouched island, is waiting for you amidst the Adriatic Sea. Even the producers of the planetary popular movie ‘Mamma Mia! Here we go again’ recognized the magic surrounding Vis and shared its magical exteriors  with the world!

Villa comprises 12 fully equipped and stylishly furnished apartments that can satisfy the needs of even the most demanding customers, especially those who want to become the owner of a luxurious holiday space. Every potential owner will definitely be attracted by the fact that when he becomes the owner of the apartment, he can enter it immediately, as in the hotel room and use it freely! The villa is planned to be fully finished in summer 2020.

The difference between this business model and others is offering maintenance services of your property when you do not use it or when you want to rent it and make additional income. When you arrive, the apartment will always be ready for you. The island of Vis is considered one of the most beautiful islands in the Adriatic Sea. And not without a reason!

Due to the preservation and variety of nature, visitors from all over the world come flock here all year long to enjoy the scents, the views and the sea. Because of its relative isolation, ancient architecture throughout the island has also been preserved.

APARTMENT 1
​1st floor to the left
77,30 m²
​
APARTMENT 2
​1st floor in the middle
97,30 m²

APARTMENT 3
​1st floor to the right
95,47 m²
​
APARTMENT 4
​2nd floor to the left
54,80 m²
​
APARTMENT 5
​2nd floor in the middle
82,50 m²

APARTMENT 6
​2nd floor to the right
79,07 m²

APARTMENT 7
​3rd floor to the left
82,94 m²
​
APARTMENT 8
​3rd floor in the middle
87,21 m²

APARTMENT 9
​3rd floor to the right
81,69 m²

APARTMENT 10
​4th floor to the left
83,02 m²

APARTMENT 11
​4th floor in the middle
81,70 m²
​
APARTMENT 12
​4th floor to the right
80,14 m²

• The LIVING ROOM, linked with a dining room and a fully equipped kitchen, also has a large dining table, a sitting area, and a state-of-the-art TV set.

• The BEDROOM is home to a large double bed, a fitted wardrobe and two comfortable armchairs.

• The BATHROOM is equipped with top quality ceramics and sanitary ware made by renowned manufacturers.

• THE SPACIOUS TERRACE provides a pleasant outdoor stay. It is partially covered and features a large outdoor dining table, an outdoor shower, and a sitting set for a relaxing break from sun and sea.

GENERAL INFORMATION ABOUT APARTMENT EQUIPMENT

Apartments are equipped with all the necessary equipment to be categorized with 4 stars *

•    Air conditioning heating / cooling
•    Washing machine
•    Extendable couch
•    Wireless Internet
•    Internet
•    Bed sheets
•    Towels
•    Hairdryer
•    Baby cot with upfront arrangement
•    Ironing board and iron
•    Anti-theft doors
•    Video surveillance

KITCHEN AND DINING ROOM:
•  Stove
•  Coffee machine
• Dishes and cutlery
• Refrigerator with a freezer compartment
• Toaster
• Cooking utensils
• Dish cloths and table cloths 
• Dishwasher
• Oven
•  Microwave
• Floors covered with Class 1 large format tiles
• Dining table

LIVING ROOM
• Sitting area with the possibility of extension for sleeping
• A table
• A TV set

BEDROOMS
• Massive parquet flooring
•  Double bed
• Nightstand
• TV set
•  Built-in closets
•  Bed sheets

BATHROOMS
• Large-format high-quality tiles
• Shower
• Sink, bidet
• Bathroom cabinets with mirrors
•  Towels
•  Hairdryer

TERRACE
• Mini pool
• Outdoor shower
• Seating area on the terrace
• Dining table

​
ENTERTAINMENT AND OTHER FACILITIES:
• Two TVs
•  Internet
•  Satellite / Cable TV
•  Garden

For more information and to book a viewing, visit the official listing.

July 25, 2019 - A trip up the coast from Split for the latest Property of the Week, a quality apartment villa complex with pool and sea view in Rogoznica. 

A trip to delightful Rogoznica on the northern Dalmatian coast this week, for the latest Trgostan Property of the week. In the words of Split's oldest real estate agency:

A newer (built in 2015, modernized in 2019) villa of 334 sqm gross, on a 540 sqm land plot, at only 60 meters from the sea, with a fantastic sea view, overlooking the bay, consisted of :

LOWEST FLOOR: kitchen + dining area + living area, bedroom and bathroom (34m2)

GROUND FLOOR: kitchen + dining area, fitness room with sauna and 2 terraces (101m2)

1st FLOOR: kitchen + living area, 3 bedrooms, 2 bathrooms, 3 terraces (104m2)

2nd FLOOR: kitchen + dining and living area, 2 bedrooms, bathroom, toilet and 3 terraces (one of them with jacuzi bath)  (106m2)*all units have their own separate entrance

The outdoor area provides 4 parking spots, pool area, chill out zone and a fire place.

ENERGY CERTIFICATE - B

For more information, photos, price and to book a viewing, check out the original listing. 

June 7, 2019 - With tourism booming in Split, a rare chance to buy a functioning hostel in Split in the latest Trgostan property of the week. 

It is about 15 years since the first hostel opened in Split. Since then, tourism has boomed, and more and more backpackers are visiting the Dalmatian capital and looking for an affordable bed for their stay. The season is also getting longer and the hostel business is booming. Here is your chance to become a hostel owner in this week's Trgostan property of the week, a 3-bedroom apartment in Split currently functioning as a hostel. 

In the words of Trgostan:

A three bedroom apartment of 85 sqm, located few steps under the ground level, in an old villa in Split center (Manus area), consisted of three bedrooms, open plan kitchen with dining and living area, two bathrooms and loggia/storage, fully furnished and equipped, in function as a hostel.

Price 189,000 euro. For more information, and to book a viewing, check out the original listing. 

Two winters with a lot of snow and low temperatures, as well as a somewhat better economic situation in Croatia, were enough for lovers of skiing and other winter outdoor activities to start buying cheap real estate in Bosnia and Herzegovina once again, reports Poslovni.hr on February 5, 2019.

Websites are full of ads offering cheap real estate in neighbouring Bosnia and Herzegovina again, especially apartments and holiday homes in the mountains. Everything changed two years ago when the local authorities started investing more and found private ski centre concessionaires.

“As for the real estate prices, there is no rule. Average land price is around 20 convertible marks for a square metre, but it is not the same for a 200 or a 500 square metre plot because the larger ones are more expensive. As for the furnished mountain houses, they cost about 600 marks on average, while unfinished homes are sold for about 300 marks per square metre,” said the owner of a real estate agency, discussing the Blidinje area in Herzegovina.

Another popular area is Kupres, often called the Herzegovinian Alps. “Now is the right time to buy real estate because the prices are lower than ever,” says Dragan Kupreškić, a private investor. “At the peak of the first investment wave in 2007-2008, the price of a square metre of a house reached up to a thousand euro per square, while at Jahorina it went up to two thousand euros. Today, you can find a square metre at Čajuša, in an almost finished apartment house, for between 350 and 470 euro. For some 20,000 euro, you can get a very nice apartment, which is the price of a garage in Split or Zagreb.”

Buyers from Croatia can acquire real estate in Bosnia and Herzegovina more easily now since in 2017 a special agreement was signed between the two countries. There is no more reciprocity, quota or anything similar; all you need is an ID and, of course, money on the bank account. Since recently, the real estate sales at the ski resorts in the neighbouring country have been supported by the local banks as well.

Translated from Poslovni.hr.

More real estate news can be found in the Lifestyle section.