Investment Property in Croatia
Sharing an Adriatic coastline with neighbouring Italy it was only a matter of time before Croatia put itself firmly on the property investment map. Like almost every other country in Eastern Europe, Croatia’s development took on a new pace recently. Though research showed the property market slowed towards the end of 2006, Croatia’s ascension into the European Union sometime in 2009-2010 will rev it back up again.
An article in The international Herald Tribune May last year said one Croatian region was hot with foreign investors because it had the charm of Tuscany with a more charming price tag: similar Mediterranean climate and relaxed lifestyle, gorgeous beaches and the cleanest water in Europe three years running. All the above means tourists can do as little or as much as they please on their Croatian holiday: from relaxing for two weeks on a sun-drenched beach, water-skiing out, snorkelling back in, and everything in between.
Emerging markets in Eastern Europe are all benefiting from their proximity to established property and tourism markets, and Croatia is the least developed country of them all. When the other Eastern European states began to see market expansion after the Berlin wall fell, Croatia missed out because it was at war. Because of this prices in some of Croatia’s prime investment locations are even cheaper in places than some of the other new hot investment markets, and therefore there is a bigger profit to be made.
For U.K. buyers Eastern Europe’s emerging markets — including Croatia — have the added advantage of not only an abundance of regular flights, but also from coverage by budget airlines. This and their low living costs, especially low in Croatia makes them very attractive to tour operators. Tour operator or not, £300 converted into Croatian Kuna’s at the best rates from David Stanley Redfern Ltd, should get you to your Croatian holiday home with enough spending money for a two week holiday.
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