Croatia has been given something of a hammering in the media of late because of its high property prices and the fact that the government seems to be doing less than a good job of protecting prime real estate from being sold off to overseas investors.
Added to these issues is the fact that internationally speaking, there is less money about to be ploughed into property just now and so is it worth buying property in Croatia now or has that bubble burst and is it a market that has emerged in terms of presenting all of its appeal?
There are many so called ‘emerging markets’ vying for property investor attention - from Brazil to Vietnam - and because it’s a buyer’s market pretty much globally, the onus really is on you to do plenty of due diligence to find out which nations do actually live up to their hype...because you could buy in Romania only to discover a better bargain in Morocco and then only have yourself to blame!
If you’re overwhelmed by the choice of similarly priced locations for potential investment at the current time why not consider Croatia? In this article we’ll look at reasons why to invest in Croatia that might very well encourage you to look more closely at this particular European market...we’re not saying it’s definitely the best of the bunch, but it does present an attractive prospect or two for would-be investors.
The property market in Croatia is in its infancy – Croatia has yet to achieve EU membership and there are still hurdles that would-be foreign buyers have to jump over in order to secure a house purchase in Croatia. What all this means is that it is still very much an immature market where risk takers buy-in and the cautious just holiday!
But if you’re looking for a bargain with a long term potential for strong yet sustainable growth, Croatia could very well be it. In this article we’ll take a look at property in Croatia and the economy in Croatia as well as the efforts the nation is making towards EU and NATO membership.
The new government in Croatia has said that it is determined to lead the nation towards EU entry by 2010 and NATO entry later this year; furthermore it has declared that it wants to ensure the nation continues to develop a strong economy with emphasis to be placed on expanding the country’s tourism market in particular.
As Croatia meets the objectives laid out for it by the European Union and continues to do everything it can to meet the NATO membership deadline in 2008, so investors are becoming increasingly attracted to one specific area of the country’s real estate industry in particular, namely commercial real estate. In this article we look at reasons to invest in commercial property in Croatia…
While many individual investors have been biting their nails and taking a wait and see approach as the arguments still rally – will it, won’t it, will Croatia make EU entry by 2009 or won’t it? One brand new, pedigree staffed fund management company has leapt in ahead of the crowds because according to their in depth due diligence, Croatia’s property market is actually benefiting now from its pre-EU status.
The company is called Castle European Estates and one of its founders explained - “we will be looking at transition economies in emerging Europe, principally non-EU and non-Russia. The economies in those regions are not benefiting from either Russian growth, Russian near abroad investment dynamics or Europeanisation” - and making up the core of their transition market investment approach and providing the basis upon which they are predicting real estate related returns in excess of 20% per annum is Croatia.
In terms of property investment interest in Croatia, the vast majority of international individual and even corporate interest seems to still be focusing exclusively on Croatia’s coastal regions and on targeting specifically a growing tourism base and second home interest from German and British purchasers – but what about Zagreb guys?
As the capital city of a nation accelerating fast towards a successful EU landing surely it’s worth consideration - or to put it another way - as a capital city of a fast emerging country with a developing economy and plenty of space for massive social and economic development surely it’s worth consideration? In this report we’ll look at reasons to invest in property in Croatia in Zagreb - in our humblest of opinions of course!
Croatia is barreling ahead with its progression towards full EU entry with everything on target for full entry by the end of the decade – Croatia took dramatic steps forward at the end of last month when it opened negotiations in six of its remaining policy areas having already put two policies to bed and almost completed negotiations relating to an additional four.
Croatia’s determination and singular point of focus is proving very successful for the economic development of the nation as a result; and in terms of Croatia’s EU membership and property investment one thing is clear, no one wants to lose out on this potentially booming marketplace with the memory of all those who missed the Bulgarian boat fresh in many international real estate investors’ minds.
At Amberlamb we’ve fallen head over heels in love with Croatia despite all our attempts to remain unbiased and objective - in this article we’ll be exploring the inescapable potential of investment property in Croatia because we just can’t help ourselves - but you know we’re still pragmatic, Croatia is far from perfect.
Ah, Croatia, Croatia…what a stunning and charming land so rich in history, so vibrant and vital, packed full of hope and potential for the future development of a prosperous and wealthy nation – restricted by outdated government legislation and a restrictive business and investment climate.
National Geographic Magazine named Croatia ‘Destination of the Year’ last year and it’s certainly not the only entity to have rediscovered the incredible diverse array of fascinating delights that this recently war torn nation has in abundance - from plains, lakes and rolling hills to forests, Mediterranean beaches and medieval villages.
Everyone from international celebrities such as Tom Cruise and global millionaires to adventure travellers and property bargain hunters are discovering Croatia now that it is a stable and prosperous nation again – so to our mind the nation should adopt a new motto – ‘discover property in Croatia and discover potential’ because the authorities in Croatia are deliberately slow to allow new construction and deliberately careful regarding how their nation is touched by international investment meaning that getting your hands on decent real estate stock is hard, but the rewards are certainly significant.
Property investors should take great pleasure in learning that the Croatian National Tourist Board has long range, mature, ambitious yet sustainable plans for the strong promotion of Croatia as an idyllic place to visit - with attractions across the nation being highlighted and the overall appeal of the country promoted from 2007 onwards.
This level of tourism investment will benefit Croatia’s property market today and for the future, and it is a credit to the government of Croatia as well as the Croatian National Tourist Board that the current country promotion plans in place and about to be launched are so mature and already well researched and established. For those seeking the best investment property options in Croatia consider targeting tourism industry residential and commercial demand directly.
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