In the second quarter of 2023, the prices of residential properties in Croatia went up 3.5% from Q1 and by 13.7% from the corresponding quarter in 2022, according to the data provided by the national statistical office (DZS).

“The prices of dwellings, measured by the house price index, increased by 3.5% on average in the second quarter of 2023 compared to the first quarter of 2023. As compared to the second quarter of 2022 (at the annual level), they increased by 13.7% on average,” the DZS stated on its website.

In Q1 2022, the prices of residential properties rose 14% on the year.

Thus, house prices have been rising since Q2 2017, that is, for 25 consecutive quarters.

Both new build properties and existing ones see price rise

“The prices of new dwellings increased on average by 5.3% compared to the first quarter of 2023 and by 12.4% compared to the second quarter of 2022. The prices of existing dwellings increased on average by 3.2% compared to the first quarter of 2023 and by 13.9% compared to the second quarter of 2022, ” says the DZS.

Broken down by region, “in the second quarter of 2023 compared to the first quarter of 2023, the prices of dwellings increased on average by 3.2% for the City of Zagreb, by 2.5% for the Adriatic coast and by 7.5% for the Other. Compared to the second quarter of 2022 (at the annual level), the prices of dwellings increased on average by 14.0% for the City of Zagreb, by 12.8% for the Adriatic coast and by 17.7% for the Other.”