Rising house prices and falling sales: unrealistic expectations of used property owners - New Leaf

Property sales in Croatia are declining, former property owners have unrealistic expectations, and the state housing policy, although there are 200,000 empty apartments in the country, is still incomplete due to a lack of data from the census, the Croatian Chamber of Commerce and Industry told the Real Estate Business Forum.

The market slowdown is especially noticeable this fall, when the number of transactions was lower than last year during the same period. If we compare the first half of 2023 with the first half of 2022, the decline in real estate sales amounted to about 10 percent across Croatia.

Prices for real estate in Croatia are still rising, but at a slower rate than in previous''average, nor at affordable prices, because developers are primarily focused on the luxury segment.

According to Michalinac.

Foreign citizens made 13.6 percent fewer purchases this year compared to the year 2022, and the interest and number of purchases by German and Austrian citizens decreased, which is explained by the slowdown of economies in EU member states.