Making of publication "Real Estate Market in the Republic of Croatia"– NEKRET

Commissioned by: Ministry of Construction and Physical Planning
Project duration: December 5, 2017 –  April 4, 2018
Project manager: Ivan Žilić
Collaborators: Marina Tkalec, Maruška Vizek

The purpose of the project was to publish a "Real Estate Market in the Republic of Croatia" publication which consisted of informative and easy-to-use insight into the real estate market conditions. Given that the publication was published for the first time, the historical development of the real estate market was also presented. The basis of the publication were data on real estate purchase prices from the eNekretnine app.

The first step was an analysis of the data obtained to determine any inconsistencies, followed by the production of descriptive statistics based on the available categories/ characteristics. The analysis was then extended using the characteristics defined by the project contract, and the characteristics agreed with the Ministry. In order to make the publication, data available in the eNekretnine application were processed using various descriptive statistics methods for the purpose of calculating average real estate prices. A regression (hedonic) model was used to analyze and display the most important property price determinants.

RESEARCH AREAS: Macroeconomics; Croatian economy