Expectations from the real estate market in 2023.

One of the most topical topics today is the rise in real estate prices, which has been on an upward trajectory for years. It is well known that real estate prices, especially in Dalmatia, „went sky high“ and that real estate today is sold „for gold“. In this blog, we will discuss the topic of constant price growth and expectations for 2023 from the perspective of an average real estate agent.

One of the main factors that will affect prices in 2023 is certainly the increase in interest rates, the switch to the euro and a considerable rate of inflation, which can result in an increase in prices that are already too high in the opinion of many. The expected drop in real estate prices did not happen even during the height of the COVID-19 pandemic, which affected the daily life of every person. What is even worse, the consequences of this pandemic will be felt for a long time. The result of all this is a high rate of inflation, which, unfortunately, is on an upward trajectory. High inflation can have consequences on the real estate market in terms of the reactions of investors, builders and buyers. Also, the element of increasing interest rates, which have been at very low levels in recent years, is not in anyone's favor. The current situation with real estate is such that there are more buyers than real estate, and buyers don't care about price as much as they care about quality. Real estate in city centers will always hold its price, while those who build multi-apartment buildings in less attractive locations could lose out. Most foreign buyers think that the prices in Croatia are very high, although compared to the prices of their properties, our prices can still be considered reasonable. The transition to a new currency brought new price increases, which, according to experts, range between 5 and 10 percent for this current year alone. Can even greater growth be expected? We can only speculate about that.

From all of the above, we can conclude that as energy and food prices rise, so will real estate prices, which have recorded a large increase this year alone. It is difficult to say when this will end, but it can be said with certainty that with the transition to the euro and entry into the Schengen zone, we have opened the door to foreign investors who will surely recognize the opportunity to buy and invest in Croatia.

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Added: 15.04.2023.

Category: CROATIAN REAL ESTATE INFO

ABOUT AUTHOR

Tino Ostojić is an extremely cheerful and communicative person for whom no task is a problem. Serious and organized in everything he does, yet relaxed and adaptable. Area of activity: the surroundings of Split and nearby islands.

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