FIRST RELEASE

CROATIAN BUREAU OF STATISTICS
10000 ZAGREB, ILICA 3, PHONE: +385 1 4806-111, P.O.B. 80, CROATIA

ISSN 1334-0565

 

YEAR: XLVI.

ZAGREB, 13 OCTOBER, 2009

NUMBER: 3.1.5/1.

 

 

OBLIGED TO NOTIFY DATA SOURCE

 

 

PRICES OF SOLD NEW DWELLINGS, FIRST HALF-YEAR OF 2009

 

In the first half-year of 2009, the average price per 1m2 of new dwellings sold by trade companies and other legal entities, excluding the Real Estate Agency1), was 12 684 kuna. This price was by 5.2% lower than in the second half-year of 2008 and by 5.3% lower than the price per 1m2 in the whole 2008.

 

The average price per 1m2 of dwellings sold by the Real Estate Agency (on the basis of the Programme of Subsidized Residential Construction) amounted in the first half-year of 2009 to 7 028 kuna.

 

In the same period, the total average price per 1m2 of all monitored dwellings (irrespective of the seller) was 12 382 kuna.

 

In the first half-year of 2009, the calculation of the average price per 1m2 of dwellings sold by the Real Estate Agency participated with 5.3% in the total volume of monitored m2 sold and other sellers with 94.7%.

 

 

1.   PRICE INDICES OF SOLD DWELLINGS, FIRST HALF-YEAR OF 2009

 

Indices

I. – VI. 2009.
VII. – XII. 2008.

I. – VI. 2009.
I. – VI. 2008.

I. – VI. 2009.
I. – XII. 2008.

 

 

 

 

Republic of Croatia

96,4

109,5

102,4

Zagreb

102,2

96,2

99,9

Other settlements

93,6

114,0

105,1

 

 

 

 

Dwellings sold by sellers

 

 

 

 

 

 

 

Trade companies and other legal entities, excluding Real Estate Agency

 

 

 

Republic of Croatia

94,8

94,5

94,7

Zagreb

101,8

99,4

100,8

Other settlements

91,6

90,7

91,2

 

 

 

 

Real Estate Agency

 

 

 

Republic of Croatia

107,3

105,5

105,8

Zagreb

107,7

105,7

107,5

Other settlements

107,3

107,3

107,3

 

 

1)    The Croatian Government Real Estate Agency (the Act on Subsidized Residential Construction, NN, No. 109/01)

 

2.    AVERAGE PRICES OF NEW DWELLINGS SOLD

 

2007.

2008.

2009.

I. – VI.

VII. – XII.

I. – XII.

I. – VI.

VII. – XII.

I. – XII.

I. – VI.

 

 

 

 

 

 

 

 

Republic of Croatia

11 191

11 296

11 252

11 304

12 850

12 095

12 382

Zagreb

12 652

12 125

12 308

14 860

13 987

14 315

14 295

Other settlements

9 846

9 756

9 803

8 942

10 891

9 703

10 198

 

 

 

 

 

 

 

 

Dwellings sold by sellers

 

 

 

 

 

 

 

Trade companies and other legal entities, excluding Real Estate Agency

 

 

 

 

 

 

 

Republic of Croatia

12 003

12 760

12 422

13 427

13 379

13 399

12 684

Zagreb

13 802

14 184

14 039

14 987

14 630

14 770

14 892

Other settlements

10 384

10 437

10 409

11 335

11 231

11 278

10 286

Real Estate Agency

 

 

 

 

 

 

 

Republic of Croatia

6 498

6 509

6 506

6 664

6 550

6 640

7 028

Zagreb

6 513

6 550

6 542

6 609

6 485

6 497

6 986

Other settlements

6 483

6 387

6 432

6 665

6 669

6 665

7 155

 

 

3.   AVERAGE PRICES OF NEW DWELLINGS SOLD AND PRICE STRUCTURE, FIRST HALF-YEAR OF 2009

 

Dwellings sold

Average price per 1 m2,  kuna

 

Number

Useful floor area,
 m2

Total

Building
sites

Construction
and
constructor's
profit margins

Other
costs

 

 

 

 

 

 

 

Republic of Croatia

1 578

99 028

12 382

1 918

7 721

2 743

Zagreb

866

52 787

14 295

2 601

8 158

3 536

Other settlements

712

46 241

10 198

1 139

7 221

1 838

 

 

 

 

 

 

 

Dwellings sold by sellers

 

 

 

 

 

 

Trade companies and other legal entities, excluding Real Estate Agency

 

 

 

 

 

 

Republic of Croatia

1 500

93 739

12 684

1 998

7 845

2 841

Zagreb

808

48 802

14 892

2 771

8 379

3 742

Other settlements

692

44 937

10 286

1 157

7 266

1 863

Real Estate Agency

 

 

 

 

 

 

Republic of Croatia

78

5 289

7  028

510

5 509

1 009

Zagreb

58

3 985

6 986

508

5 462

1 016

Other settlements

20

1 304

7 155

516

5 653

986

 

NOTES ON METHODOLOGY

 

Sources and methods of data collection

 

This release presents 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 at the same time 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".

 

Data are collected on the basis of contracts carried out in the reporting quarter. A contract is considered carried out if a buyer, in terms defined by a 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, the building site was provided by an orderer.

 

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

 

-      due to unavailability of up-to-date information on all legal entities engaged in selling the 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, 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 data on average prices regarding the      coverage of monitored units

 

-    since 2004, the calculation of the total average price has included data on prices of new dwellings sold through the Real Estate Agency.      Therefore, average prices in 2003 and previous years are comparable only to the prices in 2004 and later years of dwellings sold by “trade companies and other legal entities”, not including the Real Estate Agency.

 

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 price (demolition of the existing facilities, cleaning of construction-site, excavation works, erection of building, erection of 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 l oans, VAT, expenses and profit of a business entity which ordered the construction for further sale on      market).

 

Abbreviations

 

m2       square meter

NN      Narodne novine, official gazette of the Republic of Croatia

VAT    value added tax