Croatia property prices continue to fall
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The just released Global Property Guide investment analysis on the global housing market has indicated that housing markets worldwide have entered a period of relative calm. Whilst house price reductions were still seen in 23 countries of the 39 surveyed, the reductions were at a considerably lesser rate than the previous three years.
Croatia’s inflation adjusted % decrease in property prices was 6.7%, down from 14.2% at the same time from the previous year. This suggests that prices in Croatia have fallen around 25 to 30% since peak of the market in 2007. In our opinion this is about the average, with only the price of the best located properties in Croatia falling considerably less than that.
The guide goes on to say that whilst markets are not seeing the huge swings in the previous three years, there is general concern that with falls in over 70% of the countries surveyed, global property continues to remain over priced.
