First Release

Year: LVIII.
Zagreb, 08 March 2022
GRAD-2021-4-1/2

ISSN 1334-0557

PRICES OF NEW DWELLINGS SOLD, SECOND HALF-YEAR OF 2021

 

In the second half-year of 2021, the average price per 1 m2 of new dwellings sold by trade companies and other legal entities, excluding POS1), was 14 130 kuna. It was 10.3% higher than the price per 1 m2 in the second half-year of 2020.

The average price per 1 m2 of dwellings sold according to POS (based on the Programme of Subsidised Residential Construction) amounted to 7 904 kuna in the second half-year of 2021.

In the same period, the total average price per 1 m2 of all sold dwellings (irrespective of the seller) was 14 038 kuna.

As regards the calculation of the total average price per 1 m2 of a dwelling in the second half-year of 2021, dwellings sold according to POS participated with 1.5% in the total volume of monitored m2 sold and other sellers with 98.5%.

 

1) Sellers who sell dwellings on the basis of the Programme of Subsidised Residential Construction – POS (the Act on Subsidised Residential Construction, NN, Nos 109/01, 82/04, 76/07, 38/09, 86/12, 7/13, 26/15, 57/18, 66/19 and 58/21).

1. PRICE INDICES OF NEW DWELLINGS SOLD, SECOND HALF-YEAR OF 2021

   Indices
VII – XII 2021
I – VI 2021
VII – XII 2021
VII – XII 2020
I – XII 2021
I – XII 2020
Republic of Croatia 104,9 111,0 107,8
Zagreb 108,3 110,9 104,7
Other settlements 103,4 114,6 112,3
Dwellings sold by sellers      
Trade companies and other legal entities, excluding POS      
Republic of Croatia 104,3 110,3 107,6
Zagreb 107,7 109,6 104,6
Other settlements 103,0 114,4 112,1
POS      
Republic of Croatia 105,4 107,1 99,2
Zagreb 105,2 105,7 102,3
Other settlements 105,7 120,1 92,8

2. AVERAGE PRICES OF NEW DWELLINGS SOLD, PER 1 m2

Kuna

    2019 2020 2021
I – XII I – VI VII – XII I – XII I – VI VII – XII I – XII
Republic of Croatia 12 338 12 824 12 643 12 724 13 385 14 038 13 713
Zagreb 12 834 14 299 13 803 14 013 14 127 15 302 14 672
Other settlements 11 732 11 263 11 140 11 198 12 347 12 767 12 577
Dwellings sold by sellers              
Trade companies and other legal entities, excluding POS              
Republic of Croatia 12 536 12 939 12 813 12 869 13 550 14 130 13 843
Zagreb 13 077 14 389 14 125 14 239 14 371 15 484 14 891
Other settlements 11 881 11 368 11 181 11 268 12 424 12 794 12 627
POS              
Republic of Croatia 7 704 8 214 7 382 7 703 7 499 7 904 7 642
Zagreb 7 653 7 543 7 508 7 514 7 545 7 934 7 689
Other settlements 7 782 8 473 6 467 8 050 7 347 7 769 7 472

3. AVERAGE PRICES OF NEW DWELLINGS SOLD AND PRICE STRUCTURE, SECOND HALF-YEAR OF 2021 AND WHOLE 2021

   Dwellings sold Average price per 1 m2, kuna
Number Useful floor area, m2 Total Costs of building sites Construction costs and constructor's profit margins Other costs
VII – XII 2021            
Republic of Croatia 2 313 152 665 14 038 1 964 8 528 3 546
Zagreb 1 185 76 543 15 302 2 131 9 089 4 082
Other settlements 1 128 76 122 12 767 1 796 7 963 3 008
Dwellings sold by sellers            
Trade companies and other legal entities, excluding POS            
Republic of Croatia 2 284 150 408 14 130 1 974 8 573 3 583
Zagreb 1 160 74 692 15 484 2 148 9 175 4 161
Other settlements 1 124 75 716 12 794 1 801 7 981 3 012
POS            
Republic of Croatia 29 2 257 7 904 1 305 5 467 1 132
Zagreb 25 1 851 7 934 1 413 5 607 914
Other settlements 4 406 7 769 810 4 834 2 125
I – XII 2021            
Republic of Croatia 4 678 304 232 13 713 2 042 8 279 3 392
Zagreb 2 594 164 978 14 672 2 187 8 734 3 751
Other settlements 2 084 139 254 12 577 1 870 7 739 2 968
Dwellings sold by sellers            
Trade companies and other legal entities, excluding POS            
Republic of Croatia 4 596 297 839 13 843 2 059 8 340 3 444
Zagreb 2 527 159 953 14 891 2 214 8 833 3 844
Other settlements 2 069 137 886 12 627 1 879 7 767 2 981
POS            
Republic of Croatia 82 6 393 7 642 1 260 5 430 952
Zagreb 67 5 025 7 689 1 349 5 567 773
Other settlements 15 1 368 7 472 931 4 927 1 614

G-1 AVERAGE PRICES OF NEW DWELLINGS SOLD, PER 1 m2, BY SELLERS AND SETTLEMENTS, SECOND HALF-YEAR OF 2021

G-2 AVERAGE PRICES OF NEW DWELLINGS SOLD, PER 1 m2, BY SELLERS, 2019, 2020 AND 2021

 

NOTES ON METHODOLOGY

Sources and methods of data collection

This First Release presents the data collected by a reporting method using the Quarterly Report on Prices of Sold New Dwellings (GRAĐ-41 form).

Coverage and comparability

The Quarterly Report is filled in by legal entities that are also contractors of construction works, that is, who are engaged in the sale of dwellings, regardless of whether they carry out construction works with own facilities or through specialised companies. Excluded are those legal entities that solely intermediate in the sale of the existing dwelling stock, that is, "old dwellings".

The data are collected on the basis of contracts carried out in the reporting quarter. A contract is considered carried out if the buyer, in terms defined by the seller, paid, in whole or partly, the price of the dwelling.

Excluded are prices of new dwellings on which only rough construction works were conducted (the so called "Rohbau") as well as those of dwellings constructed/sold by a reporting unit, if it did not provide for a building site, that is, if the building site was provided by the client.

When using the data published in this First Release it should be kept in mind that:

  • due to the unavailability of up-to-date information on all legal entities engaged in selling dwellings in a particular period, this statistical survey covers a limited number of legal entities/trade companies. Their selection is based on their activity as recorded in the Register of Business Entities, number of persons in employment and/or net turnover (the total of approximately 1 000 potential reporting units). Therefore, the data on the number and useful floor area of dwellings do not cover the volume of all sold new dwellings in a reporting period, but this figure is published only to help users to asses, according to their needs, the analytical value of the data on average prices regarding the coverage of the monitored units.
  • since 2004, the calculation of the total average price has included the data on the prices of new dwellings sold according to POS. Therefore, the average prices in 2003 and previous years are comparable only to the prices in 2004 and later years for dwellings sold by trade companies and other legal entities, excluding POS.

Definitions

The price of 1 m2 of a dwelling sold includes the following:

  • costs of building sites (price of land and costs of displacing of residents or owners of the existing facilities if the land is not empty)
  • construction costs (demolition of the existing facilities, cleaning of a construction site, excavation works, erection of a building, erection of a roof covering and frames, installation and final works) as well as constructor’s profit margins
  • other costs (fees on acquiring building permits, building design and drafting, land surveying activities, supervision of construction, different taxes, insurance costs, interests on loans, VAT, expenses and profit of the business entity which ordered the construction for further sale on the market).

Abbreviations

m2 square meter
NN Narodne novine, official gazette of the Republic of Croatia
POS Programme of Subsidised Residential Construction
VAT value added tax

 

Published by the Croatian Bureau of Statistics, Zagreb, Ilica 3, P. O. B. 80.
Phone: (+385 1) 4806-111, Fax: (+385 1) 4817-666
Press corner: press@dzs.hr

Persons responsible:
Milenka Primorac Čačić, Director of Business Statistics Directorate
Lidija Brković, Director General

Prepared by:
Srećko Palej and Marijana Marić


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