Is it Worth Buying Property in Croatia Now?

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?

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Croatia Investment Property Buying Process

Any foreign buyer considering purchasing investment property in Croatia should be aware that their right to own real estate in Croatia is based on the reciprocity principal whereby theoretically a Croatian has to be entitled to freehold ownership of property in the foreign purchaser’s country of origin.

For citizens of the US, UK and most European nations this stipulation is automatically satisfied; for anyone else wishing to purchase it is possible to incorporate a local Croatian company and buy investment property via the company structure.  This article is a complete guide to the Croatia investment property buying process for non-resident purchasers.

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Croatia Property Investment Overview

Croatia represents an excellent opportunity for real estate investors with specific room for growth and profit in the Croatian tourist market as well as the commercial property sector and the local and international emerging residential real estate market.

Since Croatia achieved independence in 1991 it has joined the Partnership for Peace Program with NATO, the World Trade Organisation, the European Free Trade Association and is on target for EU accession by 2010 which more than proves the commitment of the Croatian government to the development and expansion of Croatia and which should give a property investor confidence in the country.

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Croatia Property Buyer’s Guide

Speculative property investment in Croatia has begun in earnest as this emerging real estate market moves towards EU acceptance.  The Republic of Croatia is a former Yugoslav republic; it achieved Candidate Status for EU Membership in 2004 and open accession talks began in 2005 between the EU and Croatia in a bid to bring the country within the European Union fold by 2010.  Real estate buyers are seeking to cash in on the world’s growing confidence in the country.

Since talks have begun it has become clear to the wider world that the Croatian government are determined to do everything within their power to meet the tough criteria for EU membership and this has boosted the country’s profile and appeal to overseas investors.

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