Čupić: apartments are 5% more expensive than Vienna and 16% more expensive than Ljubljana

The owner and founder of F.O. / Group, Denis Čupić appeared on HRT’s program ‘Otvoreno’ on the topic of rising real estate prices and the impact of government subsidies on them.

Commenting on the impact of subsidies on price growth, he pointed out – They are one of the factors contributing, but they are not the main reason for the price spike. We have witnessed that in the last 4 years, especially in Zagreb and Split, real estate has become a lure for short-term rentals. The fact is that interest rates at banks have fallen. People in our area are prone to saving in brick and concrete. Simply everyone who had some cash at their disposal started thinking about investing in real estate. It is also a fact that more hotel accommodation is being built at sea and in Zagreb. And I think this balloon will slowly diminish. Only quality apartments in quality locations will be attractive in the long run. This has certainly raised the price of real estate by 30 percent.

He sees the possibility of an alternative to Zagreb in Zaprešić, for which he says “Zaprešić is great for a dormitory of Zagreb, but then when it will be well connected to the city center. It needs a bus that runs to the center of the city and a high-speed rail at the same time. Then the wider Zagreb ring will become attractive.”

Commenting on the bubble that has resurfaced in the real estate market, he noted that “we need to seriously consider that the prices of new apartments are 5 percent more expensive than those in Vienna and 16 percent more expensive than those in Ljubljana.”

You can watch the whole show HERE