New building sold in Zagreb at the stage of excavation
Apartments in new buildings are in high demand, but unfortunately, in some parts of Zagreb there are simply not enough of them to meet the needs of the market, so they are often sold out even at the construction stage.
The average asking price of a new building during March on the Crozilla.com advertisement was 1865 euros per square meter, and the price range of their “squares” stretched from less than 1000 euros to about 4000 euros.
Diana Perger, owner of real estate agency “Euro-interiors” from Zagreb, said that, depending on the location, prices of apartments in new buildings are either stagnating or rising slightly. He adds that the prices of new apartments in more attractive Zagreb locations such as Trešnjevka, Bundeka-Središće, Jarun and similar neighborhoods in the tram zone are slightly increasing and range from 2600 euros to more. “Apartments in new buildings in family districts such as Špansko, Malešnica or Gajnice have for some time had stable prices of 1600-1700 euros per square meter. What makes the difference from previous years is that apartments in new construction are sold extremely quickly and at the stage of excavation of the site. There is a noticeable trend in the shortage of smaller two-bedroom apartments, as they are sold as soon as the ad is published.”
Housing prices on the rise
The data of the real estate ad Crozilla.com show that the average prices of Zagreb apartments increased in value during March.
On a monthly basis, they increased by 0.6 percent, or by 7.7 percent on an annual basis, and the average asking price per square meter rose to 1791 euros.
The highest prices still remained in the Center, which is also the most sought-after part of the city. An average of 2118 euros was requested per square meter of housing there during March, which is 0.4 percent more than the month before, and 7.2 percent more than in the same month last year. Compared to March 2016, average advertised prices for apartments in the city centre increased by 12.4 per cent, or by almost 14 per cent compared to 2015.
The largest monthly increase, 1.8 percent, was recorded in Novi Zagreb, where an average of 1,439 euros were requested for a “square”. On this side of the Sava River, prices increased by 4.5 percent year-on-year, which is less than in other parts of Zagreb. Crozilla.com data shows a difference of 13.7 percent compared to March 2016, or 14.7 percent compared to 2015.
On an annual basis, the largest increase in prices was recorded in the western part of Zagreb, which recorded almost 9 percent higher value. For a “square” of an apartment there, an average of 1595 euros were asked for, which is 0.2 percent less than in February. Compared to March 2016, housing prices in the western part of the city, according to data from Crozilla.com, increased by 10.8 percent, and by 7.3 percent compared to 2015.
At an average price of 1658 euros per square meter, apartments in the eastern part of Zagreb were advertised during March, which is 1.2 percent higher than the previous month, and 8.5 percent higher than in the same months of 2016 and 2017.
Smaller apartments are most in demand
According to Crozilla.com, during March the most sought-after parts of Zagreb for buying an apartment were Centar, followed by Trešnjevka, Maksimir, Dubrava and Špansko.
“As before, the most demanded are 1.5 room apartments, i.e. small two-bedroom apartments of about 40 square meters, then smaller three-bedroom ones, of about 65 square meters, and if we talk about larger apartments, in the new building four-room penthouses at the top of the building with spacious terraces are the fastest selling.”
Houses noticeably cheaper than apartments
A square meter of house during March was advertised on the Crozilla.com ad at an average price of 1,241 euros, which is 550 euros, or more than 30 percent less than what was required for a “square” apartment.
“Figuratively speaking, for the price of a four-bedroom apartment in a building, the buyer can buy a quality family house in the suburbs of Zagreb. A concrete example is a house with a garden in Zaprešić of 350 square meters, with two apartments and a garage that is sold at a price of 145,000 euros, for which price you can buy an apartment of about 85 square meters and a parking space in Zagreb's Gajnice. “- Perger told Crozilla.com.