Real estate appraisal in the Republic of Croatia is regulated by the Real Estate Valuation Act (Official Gazette No 78/2015).
Counties and large cities, among which is the City of Rijeka, are obliged to set up appraisal commissions composed of five members that will process and evaluate collected data, each of them in his respective field of competence.
On the basis of collected data, the commissions create price brackets and prepare annual reports on real estate markets, in their respective field of competence that are publicly disclosed.
The City of Rijeka has set up a commission that will appraise the real property market value and will create a system that will enable it to introduce real estate taxation.
The Act, in a clear and unambiguous manner, lays down who can appraise real estate and in which way; it is also an important mechanism for suppressing corruption and bad real estate management, primarily items of real property owned by the state, and those owned by local and regional self-government units, it strengthens additionally legal security of all other participants in the real estate market.
Real estate appraisals may be carried out only by authorised persons: permanently court-appointed experts and permanently court-appointed valuers.
The Act addresses exclusively the real property market value that is appraised by applying three methods and seven procedures, furthermore it also lays down the method in which data is collected that appraisers receive by applying the prescribed methodology, that is assessed and further used.
Moreover the second phase of the Information system for the real estate market eNekretnine has been completed. The system contains data on the number of transactions for a single area, real estate types, information on the item of real property that was the subject of a transaction – a flat, a house, business premises, agricultural land, building land, woodland, prices achieved, etc. In addition to data on the realised property price, the system will provide information on its location, namely spatial and urban conditions of the location in which the property is situated. Currently, the information system may be used only by court-appointed valuers and real estate transaction agents, once this system is entirely completed, also by all citizens free of charge.