Real estate agencies struggling to make a sale
13 August 2008
Expensive housing loans and even more expensive real estate brought the Zagreb market almost to a complete halt. Nikola Augustic from Biliskov nekretnine says citizens simply cannot afford homes at such prices. He adds that sales halved compared to the period three or four years ago and sometimes even three months can pass without selling a single home.
Prices were reduced in the past year, but only slightly, by roughly 1 per cent. A few years ago apartments would get sold even before the foundations were laid and now a new home can wait for a buyer for over a year. Augustic also says that four years ago real estate agencies could not get many deals as investors were selling apartments directly to buyers. However, the situation is completely different today.