A guide to the movement of land prices per square meter in Croatia in 2024

The movement of land prices in 2024 shows a dynamic picture of the real estate market, which is influenced by various factors. From economic changes and inflation, to changes in legislation, to regional differences, land prices vary depending on many factors. In this guide, we will analyze the most important trends shaping land prices per square meter this year.

Macroeconomic factors and inflation

One of the key drivers of land prices in Croatia in 2024 is inflation. High inflation, which started during the COVID-19 pandemic and continued due to global geopolitical tensions, affects the increase in the prices of construction materials and services. This consequently increases land prices, especially in urban areas where the demand for construction land is high.

Regional differences

Land prices in 2024 vary depending on the region. In urban centers, such as Zagreb, Split and Rijeka, land prices per square meter are significantly higher than in rural areas. The reason for this lies in the limited space for construction, high demand for housing and business premises, and good transport connections.

For example, in Zagreb, construction land prices in prestigious districts can reach over 500 euros per square meter, while in less attractive or rural areas, prices range from 50 to 150 euros per square meter.

Impact of new regulations and plans

Changes in legislation and urban plans also play a significant role in the movement of land prices. In 2024, the trend of stricter regulations regarding environmental protection and sustainable construction is expected to continue, which may lead to an increase in land prices that meet these criteria.

Furthermore, the announcement of new infrastructure projects, such as the construction of roads, schools and health facilities, often leads to an increase in land prices in these areas. Investors and speculators often react quickly to this news, which can lead to price spikes.

Demand for green areas and rural land

An interesting trend in 2024 is the increased demand for land in rural areas, which can be attributed to the growing interest in “green” lifestyles and remote work. This type of land, which used to be relatively cheap, is now experiencing an increase in prices, especially in areas that offer a good quality of life and access to basic services.

Predictions for the end of 2024

According to expert forecasts, land prices will continue to rise until the end of 2024, especially seafront land plots in Croatia, but the pace of growth will vary depending on the region and type of land. Urbanized and construction land will maintain its upward trend, while prices for rural land are expected to stabilize after the initial growth caused by increased demand.

In any case, investors and buyers should carefully monitor market conditions and consider all relevant factors before making a decision to purchase land. Professional evaluation of land value and consultation with real estate agents can be crucial in making the right decision.

Conclusion

The movement of land prices in 2024 reflects the complexity and dynamics of the real estate market. A variety of factors, from economic conditions to local urban plans, affect prices, creating challenges and opportunities for all market participants. Monitoring and understanding these trends is critical to making informed decisions regarding land investments.