More jobs may stimulate real-estate purchases

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• John Brennan wrote on 06. 01. 2010 from USA

  I agree will Tim. I have been trying to buy a house in a town within Dalmatia for two years now. I am having a very hard time justifying the purchase of a house in this town when I can buy a larger home, more land, and in better condition within the United States for the same price or in many cases for less. My family keeps telling me to wait or even forget about buying in Croatia but I do not want to give up because I plan to move there in 5 years. I wish the people would be a little more realistic about their property value. A completely demolished home or building requiring a complete renovation goes for more than a larger - ready to move in home in Tampa Florida. That just does not make sense and it is very hard to accept as a buyer. If the same house in its condition was on the beaches of Florida in a equally popular town, it would go for less than half the price a Croatian house would go for. I know because I am tracking it. Sincerely, John Brennan A very potential buyer

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• Jacques De la Haye wrote on 29. 12. 2009 from Zagreb

  Prices simply were not adjusted. People in Croatia tend not to adjust prices as they think they are fair. However, there are also no transactions. The so-called average price for apartments does not step in line with the quality on offer. So called up-market flats or apartments are well paid at 1900,00 per m². Most can not stand up to international quality. The Croatian real estate prices should be adjusted by again some 20% to be on normal levels.

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  • Tim Coulson / First Property Croatia wrote on 30. 12. 2009 from Split

    Absolulely agree with Jacques, croatian real estate is over priced by at least 20% in most cases and considerably more in others. this will all change once we finally get some good quality high end development, especially in the leisure residential market. this will provide a benchmark upon which real values will be based. it will take time and until then we will continue to face the uphill struggle to convince those that want to sell, to be realistic. to conclude this is not just a Croatian problem, it is the same everywhere else, expectations driven by a decade of rising prices and the sudden reversal for many has been hard to swallow. with low levels of leverage in croatia compared to other european countries has resulted in less forced sales, and that in combination with low transaction volumes resulted in prices stagnating rather than falling. Having said that anyone who is in the real esate business in Croatia knows that sales prices are at least 20% if not 30% below advertised prices, just there is no one shouting about it.

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