First Release

Year: LIX.
Zagreb, 07 March 2023
GRAD-2022-4-1/2

ISSN 1334-0557

PRICES OF NEW DWELLINGS SOLD, SECOND HALF-YEAR OF 2022

 

In the second half-year of 2022, the average price per 1 m2 of new dwellings sold by trade companies and other legal entities, excluding POS1), was 17 225 kuna. It was 21.9% higher than the price in the second half-year of 2021.

The average price per 1 m2 of dwellings sold according to POS (based on the Programme of Subsidised Residential Construction) amounted to 8 522 kuna in the second half-year of 2022.

In the same period, the total average price per 1 m2 of all sold dwellings (irrespective of the seller) was 16 857 kuna.

As regards the calculation of the total average price per 1 m2 of a dwelling in the second half-year of 2022, dwellings sold according to POS participated with 4.2% in the total volume of monitored m2 sold and other sellers with 95.8%.

 

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 2022

   Indices
VII – XII 2022
I – VI 2022
VII – XII 2022
VII – XII 2021
I – XII 2022
I – XII 2021
Republic of Croatia 105,0 120,1 120,2
Zagreb  111,3 134,6 132,4
Other settlements 111,5 114,9 112,0
Dwellings sold by sellers      
Trade companies and other legal entities, excluding POS      
Republic of Croatia 105,0 121,9 121,7
Zagreb  111,3 133,4 130,9
Other settlements 111,3 117,9 115,0
POS      
Republic of Croatia 87,8 107,8 119,5
Zagreb 93,6 92,8 99,7
Other settlements 87,2 110,4 123,4

2 AVERAGE PRICES OF NEW DWELLINGS SOLD, PER 1 m2

Kuna

   2020 2021 2022
I – XII I – VI VII – XII I – XII I – VI VII – XII I – XII
Republic of Croatia 12 724 13 385 14 038 13 713 16 058 16 857 16 489
Zagreb  14 013 14 127 15 302 14 672 18 492 20 590 19 422
Other settlements 11 198 12 347 12 767 12 577 13 155 14 665 14 087
Dwellings sold by sellers              
Trade companies and other legal entities, excluding POS              
Republic of Croatia 12 869 13 550 14 130 13 843 16 410 17 225 16 852
Zagreb 14 239 14 371 15 484 14 891 18 560 20 658 19 490
Other settlements 11 268 12 424 12 794 12 627 13 554 15 082 14 515
POS              
Republic of Croatia 7 703 7 499 7 904 7 642 9 707 8 522 9 133
Zagreb 7 514 7 545 7 934 7 689 7 861 7 360 7 666
Other settlements 8 050 7 347 7 769 7 472 9 838 8 577 9 219

3 AVERAGE PRICES OF NEW DWELLINGS SOLD AND PRICE STRUCTURE, SECOND HALF-YEAR OF 2022 AND WHOLE 2022

   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 2022            
Republic of Croatia 2 041 147 909 16 857 1 719 10 526 4 612
Zagreb 752 54 734 20 590 2 198 11 867 6 525
Other settlements 1 289 93 175 14 665 1 438 9 738 3 489
Dwellings sold by sellers            
Trade companies and other legal entities, excluding POS            
Republic of Croatia 1 958 141 653 17 225 1 760 10 703 4 762
Zagreb 748 54 455 20 658 2 203 11 899 6 556
Other settlements 1 210 87 198 15 082 1 484 9 956 3 642
POS            
Republic of Croatia 83 6 256 8 522 795 6 510 1 217
Zagreb 4 279 7 360 1 264 5 516 580
Other settlements 79 5 977 8 577 775 6 556 1 246
I – XII 2022            
Republic of Croatia 3 910 274 424 16 489 1 905 10 048 4 536
Zagreb 1 741 123 552 19 422 2 361 11 047 6 014
Other settlements 2 169 150 872 14 087 1 532 9 231 3 324
Dwellings sold by sellers            
Trade companies and other legal entities, excluding POS            
Republic of Croatia 3 717 261 527 16 852 1 934 10 207 4 711
Zagreb 1 731 122 835 19 490 2 367 11 079 6 044
Other settlements 1 986 138 692 14 515 1 550 9 435 3 530
POS            
Republic of Croatia 193 12 897 9 133 1 327 6 828 978
Zagreb 10 717 7 666 1 343 5 564 759
Other settlements 183 12 180 9 219 1 326 6 902 991

G-1 AVERAGE PRICES OF NEW DWELLINGS SOLD, PER 1 m2, BY SELLERS AND SETTLEMENTS, SECOND HALF-YEAR OF 2022

G-2 AVERAGE PRICES OF NEW DWELLINGS SOLD, PER 1 m2, BY SELLERS, 2020, 2021 AND 2022

 

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
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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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