A large Šibenik investment is underway, with construction permits expected to be granted in the spring, and works set to begin just after the end of 2019's summer tourist season.

As Suzana Varosanec/Poslovni Dnevnik writes on the 2nd of January, 2019, Zagreb Montaža Grupa (Montage Group) and ZM Development for design and construction, both headquartered in Zagreb, have gone about preparing the ground in the historic Dalmatian city of Šibenik for this year in order to intensify new, large real estate projects - Draga and Podsolarsko. The total value of the foreseen investments is approximately 110 million euro..

Partnership with the Austrians

Otherwise, this project refers to one of the largest Croatian construction companies with about 1,500 employees, and which is mostly engaged in jobs related to European Union export markets. It appears that the Draga project will be realised in partnership with an Austrian real estate company, while Podsolarsko will be run independently. Judging by what is known at the moment, both projects are gradually moving towards realisation at the same time, a fact which seems to have served as a "trigger" for completing the necessary spatial-planning and other paperwork for Podsolarsko at the end of 2018.

As they are currently navigating through the waters of the highest status of administrative preparation in Šibenik, and a quick procedure for the issuing of the necessary building permits is expected, which according to the current announcements should be resolved in the spring. After the upcoming summer tourist season, these projects are going to be realised with the execution of the first construction work. Thus, newly-built facilities will be built, covering a total area of ​​approximately 70,000 m2.

Within the scope of this project which encompasses a large Šibenik investment, Draga is preparing an additional offer of substantial garage space for the market. The design of the necessary solutions for such an offer is already under way with a design bureau from Barcelona in charge of Draga, while one of Zagreb's architectural offices is undertaking the design work for Podsolarsko.

As part of the Draga project, with a planned investment of about 50 million euro, 40,000 m2 of new garage-retail and residential space in the centre of Šibenik is planned. As the design and plan extends where today's city market currently stands, which will require for it to be temporarily relocated to part of today's parking area next to Šibenik bus station, the first phase of this project must be completed within eighteen months of the beginning of construction.

After the realisation of the main part of the project, the second phase is expected to be the construction of apartments and business premises. There will be a modern residential area boasting an impressive 30,000 m2 of living space, the construction of a mini marina for up to 65 boats is also set to take place.

The second phase of the plan involves the construction of hotels with about 250 accommodation units, they'll allegedly be of a high category, and this stands as an investment that cannot be less than 60 million euro, they say.

Sources close to the Zagreb Montaža Grupa say that both Šibenik investment projects have already attracted the interest of potential buyers.

Make sure to stay up to date with our dedicated business page for more information on this Šibenik investment, and much more.

Click here for the original article by Suzana Varosanec for Poslovni Dnevnik

Questions about property in Croatia are common, and while the prices vary dramatically in various regions of the country, with places like Split and Dubrovnik typically dominating, there have been some significant fluctuations.

As Novac.hr/Jutarnji/Iva Novak writes on the 15th of December, 2018, Crozilla.com's data on property in Croatia showed that average prices of advertised houses rose by 0.8 percent in November. When comparing them to apartments, which are still more expensive than houses, the difference was almost 21 percent.

Dubrovnik, with a difference of 10 percent, and Poreč with 2.5 percent, remained, as they did in previous months, rare cities in which houses were more expensive than apartments. The biggest monthly increase was recorded in Dubrovnik, where prices rose 5.8 percent, so the value per square metre in a house, with the price of a garden included, rose to 4,145 euros.

For a square metre of a house in Poreč, an average of 1,911 euros was requested, which is 0.4 percent more than it was during the previous month. The biggest difference in prices during November posted on Crozilla.com in Bjelovar, where houses were more than 44 percent cheaper than apartments, and then in Osijek where the difference was 39 percent, followed by Varaždin, at 36.3 percent.

The average advertised price of houses in Bjelovar was only 434 euros per square metre, which is 0.9 percent less than the month before. In Osijek, their value rose by 1.2 percent, while the price per square metre was only 587 euros. The data also showed that houses in Varaždin increased by 0.6 percent on average, and 713 euros was being asked per square metre.

In Zagreb, house prices were almost 34 percent lower than apartment prices, and the price per square metre advertised was 1,261 euros on average, representing a monthly increase of 0.7 percent. In Slavonski Brod, a 634 euros per square metre of a house was demanded, which is almost 21 percent less than the price of the apartment there.

The value of houses fell by 0.3 percent on the monthly level, as well as in Senj, where they were 25 percent cheaper than apartments, and their average cost was 1,195 euros per square metre. Lower monthly value in the amount of 0.9 percent was recorded in Umag, where 1,877 euros was being requested per square metre for a house, which is 7.8 percent less than the average price of apartments there.

In Opatija, house prices fell by 1.1 percent, and the value of their ''square metres'' dropped to 2,216 euros, which is almost 25 percent less than the advertised apartment price. There was a similar difference in the prices of houses and flats in Šibenik, where the average square metre price in a house averaged 1,529 euros, which is 0.1 percent less than it was during the previous month.

In Zadar, however, houses were about 23 percent cheaper than apartments.

Their monthly values ​​increased by 0.5 percent in November, and the price per square metre, with a garden included, stood at 1,698 euros. The prices of houses in Split rose by 3.8 percent on a monthly basis and reached 2,417 euros per square metre. Housing there during November was about 15 percent cheaper than apartments there were, and such a difference in prices was also recorded in Rijeka, where 1,229 euros per square metre were being demanded, 0.8 percent more than the previous month.

In Pula, according to Crozilla.com, prices on a monthly basis increased by 0.3 percent, so the price per square metre of a house demanded 1,459 euros on average, which is 13.1 percent less than the price of the apartment.

Make sure to follow our dedicated lifestyle page for more information on property in Croatia and much more.

Click here for the original article by Iva Novak for Novac.hr/Jutarnji

Property prices in Croatia are a popular talking point, and just as with everything else in the country, there are usually huge variations depending upon the area of the country you choose.

Dubrovnik is well known for its extortionate property prices, with Split also quickly following suit, with Zagreb and the capital city's surroundings not yet in the same range, but being quickly on the rise.

As Poslovni Dnevnik writes on the 1st of November, 2018, despite the country's ever-concerning demographic crisis and the steady flow of emigration of Croatia's often very talented youth, coupled with more stringent lending standards, the general demand for apartments and other types of homes isn't decreasing, yet. For example, apartment prices in Zagreb are already close to the formerly historically high levels they were at around ten years ago when it was far from abnormal to pay over 2,000 euros per square metre for a relatively average apartment in an older building in the city.

While real estate prices continue to rise only very slightly throughout the European Union as a whole, the increase in property prices in Croatia compared to the EU average is, probably surprisingly to some, rather striking. Property prices in Croatia rose by an impressive 8.5 percent in the first quarter of this year when compared to the growth seen during the same period last year. In the last quarter of 2017, prices rose by 7.6 percent, according to a report by tportal.

Njuškalo conducted its monthly survey back in September this year, and the results quite clearly show that apartment prices in Croatia rose by 7.13 percent year-on-year, and house prices grew slightly more than four percent.

The most expensive apartments can be found, rather unsurprisingly, in Croatia's southernmost city, Dubrovnik, where the average market price is about 3,811 euros per square metre, in Split, prices stand at 2,744 euros per square metre, while the average in the capital city of Zagreb, while steadily on the up, remains significantly lower, at 1,917 euros per square metre.

The popular Dalmatian city of Zadar stands out in terms of growth, and the average square metre in an apartment increased by 12 percent, and is now generally sold at 2,075 euros.

Want to find out more about property prices in Croatia, business, investments and the general state of play of Croatia's domestic economy? Make sure to follow our business page.

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