Croatian house price falls continue
The housing market in Croatia remains depressed, amidst deteriorating economic conditions.
In Zagreb, the capital, the average asking price of flats was down by 4.6% in December 2012 from a year earlier, at €1,665 per square metre (sq. m.), according to CentarNekretnina, the largest Croatian property portal.
The Adriatic Coast, Croatia’s most popular tourist destination, saw a steeper year-on-year decline, with the average price of flats falling by 8.1% during the year to December 2012, at €1,671 per sq. m.
House prices fell in most districts, with Maksimir registering the biggest year-on-year house price decline of 8.5% in December 2012.
The most expensive apartments are in the upper town of Medveščak, with an average price of €2,310 per sq. m. in December 2012, followed by the Center, with an average apartment price of €2,086 per sq. m.
Property prices in Croatia have been falling for the past four years.
