Why 2026 Will Be the Year of Renovations, Not New Builds

While the cranes stand still and construction sites are quieter than they were a few years ago, the market's new reality is becoming clear: the era of mass new-build construction is slowly fading. 2026 will be the year of renovations – a return to older buildings, but with a new vision.

The prices of building materials, labour and land have reached a point where many projects are simply no longer viable. Investors are looking for security, not adventure. Buyers, in turn, are looking for authenticity and location, not just "new". The result? The focus is shifting to renovating the existing housing stock.

Renovation is not only a technical act, but an emotional one. It brings old spaces back to life and connects us with cities as they once were. Old buildings in the centre of Zagreb are getting a new skin while keeping their soul. Apartments that sat idle for decades are becoming desirable again – because in an age of the digital and the fleeting, people are once again looking for permanence and meaning.

Through new EU funds and subsidies for energy renovation, the state is further encouraging this trend. Lower energy consumption, better insulation and savings on heating costs are becoming new selling points for buyers and owners. Instead of building new, many people in 2026 will choose to renovate the old – and find in it a value the market has yet to recognise.

Imperium Immobiliare is already seeing a shift in interest. People are asking for advice on how to renovate, how to assess whether a renovation is worthwhile, and how to obtain incentives. This is no coincidence – it is a sign of a maturing market. New square metres are no longer the only measure of value. True value is now measured by knowledge, aesthetics and the ability to turn the old into the contemporary.