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

The first step is 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 will then be extended using the characteristics defined by the project contract, and potentially on the characteristics agreed with the Ministry. In order to make the publication, data available in the eNekretnine application will be processed using various descriptive statistics methods for the purpose of calculating average real estate prices. A regression (hedonic) model will be used to analyze and display the most important property price determinants.

RESEARCH AREAS: Macroeconomics; Croatian economy