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Real Estate Croatia

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May 17, 2008 00:00 CET

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General Information

Industry Overview

According to data from the Croatian National Institute of Statistics, the number of registered companies in the real estate, renting and business sector at end-2007 stood at 34,682, compared to a total 252,645 companies in Croatia. The active companies in the real estate sector numbered 23,788, of which the privately-owned ones totalled 23,227, state-owned were 178 and the cooperatives were 215.
In the third quarter of 2007 the financial intermediation and real estate sector contributed HRK 10.957 bln or 14.5% to the Croatian GDP. The mining and manufacturing sector had the greatest share in the GDP, with HRK 15.423 bln, followed by public administration sector with HRK 11.217 bln. The total GDP for the period amounted to HRK 75.494 bln.
In January 2008 and in the whole 2007 the employment in the sector was 7.0% and 6.97%, respectively, compared to 6.41% in 2006.
According to data from the Croatian National Institute of Statistics, the number of the registered real estate companies stood at 32,105 in April 2007. The active companies numbered 21,173. Privately-owned companies in the sector totalled 20,639, while the state-owned ones were 171. The sector employed 22,675 people as of April 2007.
Real estate, renting and business services accounted for 14.8% of Croatia's GDP in 2006.

GDP at Current Prices (HRK bln)

	3Q 2007	2Q 2007	1Q 2007	4Q 2006	3Q 2006	2Q 2006	1Q 2006
Agriculture, hunting, forestry and fishing	4.078	4.350	3.670	4.028	3.991	4.127	3.456
Mining, Quarrying, Manufacturing, electricity, gas and water supply	15.423	13.886	13.344	12.514	14.209	12.510	12.187
Construction	4.241	2.600	4.111	3.488	3.855	3.903	3.654
Wholesale and retail trade	8.076	7.717	6.729	6.430	7.161	7.014	6.102
Hotels and restaurants	4.011	2.467	1.024	1.297	3.526	2.234	0.898
Transport, storage and communication	7.400	5.789	4.965	5.550	6.747	5.191	4.527
Financial intermediation, real estate, renting and business activities	10.957	11.094	11.056	10.907	9.710	9.691	9.687
Public administration and defence; compulsory social security, education, health and social work, other community, social and personal services, private households	11.217	10.613	10.760	10.364	10.314	9.765	9.892
Gross Value Added	62.768	57.306	53.294	51.924	57.239	52.043	48.446
Taxes on products less subsidies on products	12.726	11.167	9.267	10.935	11.860	9.868	8.275
GDP	75.494	68.473	62.561	62.859	69.099	61.911	56.721

Source: Central Bureau of Statistics of the Republic of Croatia

Gross Value Added at Current Prices (HRK bln)

	Q3 2007	Q2 2006	Q1 2007	2006
Total, including:	62.77	57.31	53.29	209.65
Agriculture, hunting, forestry and fishing	4.08	4.35	3.67	15.6
Mining, Quarrying, Manufacturing, electricity, gas and water supply	15.42	13.89	13.34	51.42
Construction	4.24	4.23	4.11	14.9
Wholesale and retail trade	8.08	7.72	6.73	26.71
Hotels and restaurants	4.01	2.47	1.02	7.95
Transport, storage and communication	7.4	5.79	4.97	22.02
Financial intermediation, real estate, renting and business activities	8.32	11.09	11.06	40
Public administration and defence; compulsory social security, education, health and social work, other community, social and personal services, private households	11.22	10.61	10.76	40.34
Financial Intermediation Services Indirectly Measured	-2.64	-2.84	-2.36	-9.28

Source: Central Bureau of Statistics of the Republic of Croatia

GVA structure in Q3 2007	%
Agriculture, hunting, forestry and fishing	6.50
Mining, Quarrying, Manufacturing, electricity, gas and water supply	24.57
Construction	6.76
Wholesale and retail trade	12.87
Hotels and restaurants	6.39
Transport, storage and communication	11.79
Financial intermediation, real estate, renting and business activities	13.26
Public administration and defence; compulsory social security, education, health and social work, other community, social and personal services, private households	17.87
Gross Value Added	100.00

Source: Central Bureau of Statistics of the Republic of Croatia

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