Housing prices stopped falling in Croatia

25.03.2011 07:34
Articles about real estate | Housing prices stopped falling in Croatia In January 2011 the Croatian cost of housing increased slightly. By the end of 2010, claimed in advertisements the average price of real estate in the country fell by 11% compared with the pre-crisis 2008. However, in January 2011 was recorded stabilization in housing prices (0.4% compared with December 2010).

In January 2011, on the Adriatic coast of Croatia, a square meter in the cottage was worth an average of 1.5 thousand euros, in the apartments - 1,8 thousand euros (-11% compared to 2010), reports Prian.ru. Average price of flats in Zagreb fell by 2,3%. In January, a "square" in the capital's apartment had to pay 1,8 thousand euros in the house - 1,1 thousand euros.

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Despite early signs of stabilization, the price of the Croatian housing is not soon reached crisis level, experts say. In particular, growth will be constrained by the high proportion of NPLs in the banking system of Croatia (9,5% of total loans). In addition, at the end of 2010, GDP declined by 1.5% in 2009, also reported the decline of this indicator. The result of the weakening economy was a record level of unemployment - 16,9%.

In this regard, Croatia property is best sold on the popular tourist destination areas, especially the Adriatic coast. So, in Istria for 33% of real estate owned by foreigners, in the county Primorje-Gorski Kotar - 26%, in the county of Split-Dalmatia - 12% in Zadar - 8%, in the county of Dubrovnik-Neretva - 6%. Only 3% of foreign buyers are choosing the Croatian capital Zagreb.

In 2010, about 55% of all approvals for the purchase of real estate by foreigners has been given to citizens of Germany, the Austrians have 16% British - 6%, Hungary - 4% Dutch - 3%.

The price of second homes in Kiev are still falling. In February, it has fallen in price by an average of 0,39%, reaching $ 203 per square. m area, said "BIZliga.net".
Content tags: Overseas property
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