In the past ten years, real estate prices in Croatia have not increased by 62 percent (if they had, the average price in 2023 would be 2278 euros per square meter).
On the official Facebook page of the SDP, a post was published on May 27 stating: “Real estate prices in Croatia have increased by 62 percent in the last 10 years.”
The statement is INCORRECT.
According to the data from the Croatian Bureau of Statistics, in the second half of 2013, the average price of 1 m2 of new apartments sold by trading companies and other legal entities, excluding POS, was 10,589 kunas (which is 1,406 euros).
On the other hand, also according to the CBS, in the second half of 2023, the average price of 1 m2 of new apartments sold by trading companies and other legal entities, excluding POS, was 2,359 euros.
Therefore, looking at the latest available data, in the past ten years, real estate prices in Croatia have not increased by 62 percent (if they had, the average price in 2023 would be 2278 euros per square meter), but have increased by 67.9 percent.
However, it should be considered that the CBS explains that the calculation does not include all real estate on the market, but only those for which data is available.
The CBS also states: “The Construction Statistics Service, in its reports on the prices of sold new apartments, publishes data on the number of sold new apartments on the basis of which the price was calculated. However, due to the unavailability of up-to-date information on all legal entities – sellers of new apartments in a given period, this statistical survey is conducted on a limited scope of legal entities/trading companies, and the selection was made according to their activity in the Statistical Business Register, number of employees and/or net turnover (a total of about 1,000 potential reporting units).
Therefore, data on the number and area of apartments do not reflect the volume of sales of all new apartments in the reporting period. This data is published only so that users can, depending on their needs, assess the analytical value of the data on average prices given the scope of the observation units.”
