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Goran Golenić
Episode · #344

ZGRADONAČELNIK Goran Golenić

Guest Goran GolenićHosted by Tin BašićMay 3, 2026
About this episode
What you'll hear in this conversation

The conversation begins by addressing a common tension: do government housing subsidies genuinely help citizens, or do they inadvertently inflate property prices? Goran Golenić, Assistant Director of the Subsidized Housing Loan Department at APN, Croatia’s Agency for Legal Transactions and Real Estate Brokerage, offers a unique perspective from the agency tasked with implementing these programs. He shares the direct, on-the-ground data that often gets lost in broader economic analyses. This discussion delves into the real impact of the APN housing loan program, exploring its reach beyond urban centers and its role in national demographic policy. Readers will leave with a clearer understanding of how such programs are perceived by those who use them, and the complex trade-offs involved in government intervention in the housing market.

Insights from the conversation
What to take from this episode
01
Over five years, APN has received more than 22,000 applications for subsidized housing loans. This sustained demand, even as property prices rose, indicates that for young people, the direct benefit of securing a home often outweighs the market's upward trend.
02
Of the 22,000 subsidized housing loans, roughly 15,000 were approved outside the capital, with cities like Osijek, Slavonski Brod, and Vinkovci seeing high uptake. This distribution affirms the program's demographic goal: it isn't just a Zagreb phenomenon, but a national measure supporting young families in less urbanized areas.
03
Asked whether APN loans contribute to rising property prices, Goran Golenić notes, "As a Croatian implementing agency, we are not supposed to comment on this specifically." It illustrates the tightrope walk of public bodies: they execute policy, but are not always free to discuss its broader economic implications.
04
From 2017, the number of APN loan applications "increased, regardless of the property price," even as housing costs rose. This counterintuitive trend suggests that for a fundamental need like housing, the perceived value of a subsidy can outweigh market price increases, making demand less elastic than economic models often assume.
05
When asked if rising prices "ate up" the value of the subsidy, Golenić suggests asking citizens in regions like Brodsko-Posavska or Osijek-Baranja. This highlights a crucial point: the impact of a national policy varies significantly by local market, and a blanket assessment from the capital often misses regional nuances.
06
Beyond the well-known housing loan subsidies, APN also manages programs for socially-supported housing (POS), energy management, and state property acquisition. Public agencies often have a broader, less visible portfolio of essential functions, extending far beyond their most publicly discussed initiatives.
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