Real estate in Zagreb – main areas
Croatia, whose capital is Zagreb, is one of the countries with the most dynamic development of the real estate market. Among resort towns such as Dubrovnik or Pula, which have their own international airports, property prices in Croatia differ significantly from other popular summer holiday destinations such as Opatija, Umag, Rovinj, Porec, Zadar or Split.
This list can be complemented by the capital of Croatia, Zagreb, which, according to a report by the prestigious Forbes magazine this year, is among the best emerging real estate markets in Europe. At the same time, the cost of real estate in Zagreb is approximately three percent higher than the national average, despite the city’s lack of access to the sea.
In total, there are 17 districts in Zagreb, each of which differs in infrastructure, population, type of development and, accordingly, price. The first place in terms of prestige and popularity is occupied by Gorny Grad – Medveshak, located almost in the very center of the city. Here are the main attractions of Zagreb, and tourists often begin their route around the capital from here. The negative phenomena of this area include high traffic congestion and almost regular traffic jams, although there are numerous bus and tram routes.
Downstream from Medvesek is Dolni Grad, which has gained fame as the business center of Zagreb and its shopping center. The main shops and boutiques of famous brands are located along Ilica Street, which is considered the main street in the city. However, the lack of vegetation forces Zagreb residents to move to areas such as Sesvete or New Zagreb. You can buy real estate in New Zagreb cheaper than in many other areas, but you should take into account the fact that it is located on the periphery, and residential areas prevail here.
Rising property prices in Zagreb
As a result of Brexit, many companies have decided to leave the UK and locate in one of the European Union countries, which may see property prices rise in major cities across Europe.
An increase in the value of real estate in Zagreb is predicted by Forbes, along with the most popular localities in Portugal, Austria, Holland and Bulgaria, based on data on the secondary real estate markets in Europe.
Moreover, experts from the well-known publication believe that over the next few years, an explosive increase in real estate prices in Zagreb will be simply inevitable. They rose by as much as 20% in 2018, while the rest of the country only grew by 8.5%.
Forbes received this information from the first digital real estate company in Croatia, A Nekretnine, open for business, which, as a rule, is the clearest confirmation of the high potential of the market. According to data provided by A Nekretnine, 20% of those wishing to buy property in Zagreb come from outside Croatia. At the same time, the rental market is also growing, as evidenced by a 30% increase in advertising of apartments on the Airbnb Internet platform.
Next year, new offers will appear on the Zagreb real estate market, the completion of which was suspended during the last real estate crisis. According to the Croatian real estate sales portal Nüškalo, since October last year the price of one square meter of real estate in Zagreb has increased by 10% year on year and reached an average of 1,933 euros. In addition, following Zagreb, Lisbon (Portugal), Plovdiv (Bulgaria), Feldkirch and Bludenz (both Austria), and Rotterdam (Holland) were named as the best emerging markets.
Luxury real estate in Zagreb
Due to the absence of the sea, property prices in Zagreb are overwhelmingly quite affordable for a wide range of the population. Luxurious by the standards of other countries, but in need of renovation, an apartment with two bedrooms and two bathrooms can be purchased at the rate of 1,300 euros per square meter, and if we are talking about the nearest suburbs, then a thousand euros is considered a good price.
However, there is an opportunity to buy luxury real estate in Zagreb, which is mainly concentrated in the center of the Croatian capital. Here the price level will reach three thousand euros per square meter, and this will be a new building with a fine finish, but without furnishings. The cost of villas varies between 1.5-2.5 million euros depending on the location, number of rooms, quality of finishing, availability of a private garden and many other factors. In any case, detached houses in Zagreb will cost less than luxury apartments in fashionable buildings.