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Split apartment listed for 400,000 euros sparks debate over soaring property prices
๐Ÿ‡ญ๐Ÿ‡ท Croatia /Economy & Trade

Split apartment listed for 400,000 euros sparks debate over soaring property prices

From Veฤernji List · () Croatian

Translated from Croatian, summarized and contextualized by DistantNews.

At a glance

News Sources not specified Outcome reported
  • A 35-square-meter apartment in Split, Croatia, is listed for sale at 400,000 euros, or approximately 11,429 euros per square meter.
  • The high price and the fact that the property is not yet legally partitioned have sparked debate online about the booming real estate market in the city.
  • Some commenters suggest the high prices are driven by the potential for lucrative tourist rentals, while others question the investment's long-term viability.

A striking real estate listing in Split, Croatia, has ignited a fierce debate about the city's soaring property prices. The apartment, a mere 35 square meters, is on the market for a staggering 400,000 euros, translating to roughly 11,429 euros per square meter. This price point, coupled with the detail that the property is not yet legally partitioned, has left many observers astonished.

11428 โ‚ฌ per square meter and still not partitioned... good luck with that

โ€” Reddit userCommenting on the high price and unpartitioned status of the apartment.

The listing, shared on Reddit, prompted a wave of reactions. "11428 โ‚ฌ per square meter and still not partitioned... good luck with that," one user commented, echoing the disbelief of many. The discussion quickly turned to the underlying reasons for such exorbitant prices in desirable Split locations.

Some participants argued that properties near the sea are increasingly viewed not just as residences but as investments for tourist rentals. "Apartments 300 meters from the sea. For a long time now, real estate in Split is not seen as living space but as a business investment and a business space that will generate money," one user explained. This perspective suggests a shift in how real estate is valued in the popular coastal city.

Apartments 300 meters from the sea. For a long time now, real estate in Split is not seen as living space but as a business investment and a business space that will generate money

โ€” Reddit userExplaining the shift in perspective towards real estate as an investment for tourist rentals.

However, the conversation also delved into the potential return on investment. While some believed the prime location could yield significant rental income, others estimated that recouping the 400,000 euro investment could take decades. "At these prices, it will pay off in 40 years," one commenter predicted. Adding to the debate, one user shared an anecdote about selling a similar-sized apartment near Marmont Street for 300,000 euros, suggesting that even high-priced properties can find buyers.

At these prices, it will pay off in 40 years

โ€” Reddit userEstimating the long-term return on investment for the expensive apartment.

The discussion also saw comparisons to other areas, with some suggesting that for similar prices, one could acquire larger apartments in nearby Kaลกtela or even choose to live in Sinj. A 24-year-old aspiring buyer shared his struggles, noting that rising prices make it increasingly difficult to enter the market despite having savings and creditworthiness.

All properties have their buyer, I sold 33 square meters in the city near Marmontova for 300 thousand, so I wouldn't be surprised if he sells his too, if he lowers the price a bit

โ€” Reddit userSharing an anecdote about a successful sale of a similar-sized apartment at a high price.
DistantNews Editorial

Originally published by Veฤernji List in Croatian. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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