ZGRADONAČELNIK Filip Brkan

Guest Filip BrkanHosted by Tin BašićMay 3, 2026

Filip Brkan

About this episode

What you'll hear in this conversation

The Croatian real estate market is in a period of significant adjustment. Transaction volumes are slowing, and the gap between what sellers ask for and what buyers actually pay is narrowing. Filip Brkan, owner of Imperium Immobiliare, has a front-row seat to these shifts, navigating the market's rebalancing after years of unusual activity. He offers a grounded perspective, dismissing comparisons to the 2008 financial crisis and instead framing the current environment as a necessary cooling period. Brkan explains the forces shaping prices and affordability, from the impact of government subsidies to the often-misunderstood context of sensational luxury sales. Readers will leave with a clearer understanding of whether the market is heading toward stability or further uncertainty.

Insights from the conversation

What to take from this episode

A sharp drop in transactions in the first quarter of this year signals a market in flux. Brkan argues this isn't a crisis, but a necessary correction after years of anomalies, paving the way for a more stable and predictable environment.

Last year, Zagreb saw a 22% gap between the asking prices and the prices properties actually sold for. This disparity, fueled by seller expectations and some agents over-promising, is now shrinking as the market cools, pushing prices closer to their real value.

The end of APN's subsidized loan program will likely further reduce transaction volumes. Brkan views this not as a negative, but as a natural part of the market’s re-balancing, removing an artificial stimulus to allow for organic price discovery.

When asked about the widely reported 150,000 euro garage sale in Zagreb, Brkan admits his agency handled it. He clarifies that such sensational luxury transactions are outliers within specific, high-end contexts and do not reflect the overall health or affordability of the broader market.

Brkan firmly rejects comparisons between the current slowdown and the 2008 banking crisis. He emphasizes that today's market adjustments stem from inflation and post-pandemic dynamics, representing a 'much healthier situation' than a systemic financial collapse.

A real estate slowdown impacts 'the entire chain' of agencies, banks, and related institutions. A dip in transactions challenges the sustainability of the entire ecosystem that supports buying and selling, extending beyond just property sales.

Brkan observes a growing divide where 'only the rich can buy a new apartment' in certain segments. This trend underscores the market's increasing inaccessibility for middle and lower-income buyers, highlighting the continued need for targeted affordability measures.

This year marks a necessary 'cooling down' period after five years of market anomalies. Brkan hopes that if conditions align, the market can 'exit into a normal market' by next year, establishing stability after a period of unpredictable surges and declines.

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