July and August are usually quieter periods for serious property buyers, but this year we have seen a big uplift on the property market in verified inquiries.
The largest number of verified inquiries are looking for properties in Croatia next to the sea or very close too it. On average budgets range from 1,000,000 plus for a luxury villa by the sea, 100,000 € to 400,000 € for land, €250,000 to €400,000 for villas & houses and €100,000 to €150,000 for an apartment. Generally speaking it is possible to find something next to the sea or close to it for the above budgets & type, although it is becoming increasingly difficult due to low levels of supply.
Supply of waterfront properties or properties by the sea are low due to high demand, restrictive zoning which has limited the availability of building land and lack of infrastructure in tourist zones on the seaside. The result is prices have remained pretty much constant throughout the financial crisis and are in fact now beginning to rise. This is especially true of land prices, as available plots in good positions that are not blighted are increasingly scarce. Land prices by the seaside in the Central Dalmatian region are going for €250 / m2 up to 500 €/m2 averaging somewhere between €300 & €400 / m2.
For those buyers who are not so concerned about being close to the sea there are some excellent deals available with vendors more willing to negotiate. For these types of properties in Croatia it is definitely a buyers market although we do not expect this to last for long, probably the next 12 months, so now is a very good time to buy.