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?
In terms of property price growth and the popularity of the property market in Croatia, 2007 will be another exceptional year for this emerging nation poised on the brink of EU entry.
Why?
Because all the fundamentals are in place for the development of a broad range of sustainable real estate demand across the country over the next few years and currently supply is nowhere near up to speed to meet this impending stream of demand representing property investor heaven.
Zagreb is the capital city of Croatia which is a nation with an exciting emerging property market booming particularly along its Adriatic Sea coastal region and boosted largely by a growth in tourism numbers in Croatia. Now Zagreb itself is coming under the international investor spotlight as having an emerging real estate market of its own - this is our report on Zagreb’s property investment potential for international investors.
As Croatia works hard to position itself favourably for EU and NATO entry, so the economic situation in the country is changing for the better and Croatia’s property market is booming as a direct result.
The concept of near-shoring as opposed to offshoring is rapidly developing as many Western European countries capitalize on the lower costs of living, housing, commercial space and staff in Eastern Europe; and a recent report commissioned by Thompson Holidays in the UK revealed that the number of UK citizens now classed as overseas commuters has dramatically increased. One country witnessing a boom in near-shoring activity and an influx of overseas commuters is Croatia, and in the Croatian city of Dubrovnik property prices are beginning to soar as a result.
You’ll have to forgive us but the Amberlamb team is very excited today – it’s just been announced that the legendary Jack Nicklaus has been brought on board to design a brand new signature golf course at an exceedingly gorgeous golf, spa, marina, hotel and residential property resort in Croatia – and if that doesn’t bode incredibly well for the future of the property market in Croatia we don’t know what does!
Those property investors keen on emerging markets within emerging markets might like to turn their attentions to the Istria region of Croatia.
One of the familiar concerns that many property investors face is physically accessing an emerging country with a potentially interesting real estate marketplace - the ongoing accessibility of a country for a property investor can make or break the potential profitability of any investment made in that country’s real estate sector.
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