Lower real-estate price in July

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Real-estate website CentarNekretnina.net, which surveyed 221,000 prices of real estate in July, said the average price in Zagreb fell by 0.3 per cent in July compared to the previous month and by 3.7 per cent compared to July 2008.
Real estates prices on the Adriatic coast fell by 2.2 per cent compared to the previous month and by 2.3 per cent compared to July 2008.
The average price of a flat in July was 1.918 Euros per square metre in Zagreb
and 2.169 Euros per square metre on the Adriatic coast.
In 2008, prices were constantly rising during the first seven months, but in 2009 prices have been steadily falling.
The average price of real estate price in Croatia declined by 1.1 per cent in July compared to the previous month and by 3.1 per cent compared to July 2008.
CentarNekretnina.net head Domenico Devescovi said he expected more real-estate price corrections.
He said: "In past years, the real-estate market recovered in September, but we doubt that it will this year because of the financial crisis. We expect fewer transactions in the market."

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