It is a cliché in the world of overseas property to say that somewhere is a ‘best kept secret’ but Croatia is certainly among those destinations that have a low profile, stunning natural attractions – hundreds of miles of coastline, a thousand or so islands, beautiful waters and pretty countryside – and well-priced property. An added bonus is that from February 2009 it will become easier to buy in Croatia as a non-national.
By Gordon Miller
From that date, EU citizens will have the same rights to purchase property as Croatian nationals, other than certain rural land. The Croatian government is also streamlining some of the other processes of buying property in the country to help harmonise domestic legislation with the rest of the EU in line with its ambitions to join the European Union – which could happen as early as late 2009.
Andrew Piper from property agents Emerging Market Property, said: 'By opening up property to European buyers, the government will enable more people to buy in Croatia. This is likely to push prices up, which have already been increasing at a rate of approximately 10 per cent a year for the last few years.'
Philippe Robin of Selection Property concurs with Piper’s assessment of the capital gains in recent years. He said: 'Property prices have increased by eight to 13 per cent per annum over the last four years. The trend is set to continue for at least another five years thanks to the forthcoming EU membership and more financial packages becoming available. Smart investors are investing now, before the ‘boom times’ really start.
'Croatia is politically stable and the country has a steady and reliable property market. In terms of hot places to buy, the southern town of Dubrovnik used to be very popular, especially with the media, thanks mostly to its eye-catching fortified walls, however it has now become a very expensive place with properties up to €6,000 (£5,000) per m2. Property buyers are therefore switching to the north western region of Istria, known as ‘the new Tuscany’.'
The comparison with Italy is not as unusual as you might at first think. Northern Italy is barely 50 miles from Croatia at its closest point. The two countries are separated by Slovenia by land, and Venice in Italy and Porec in Croatia are only a two-and-a-half hour boat ride apart across the Adriatic Sea. Indeed, the Romans, and later Venetians, ruled over Istria for many centuries, and Pula is home to one of the finest amphitheatres outside of Italy.
Robin notes that property prices in Istria are 50 to 60 per cent cheaper that in Dubrovnik in southern Croatia. He said: 'Istria is a beautiful region where coastal towns are built around a main square, featuring cafes and restaurants with terraces open all year round. Having catered for tourism since the 1960s, Istria remains a popular destination for Western Europeans who can easily drive there. This creates a big demand for accommodation during summer and together with new marinas and up to 14 planned golf courses.'
.jpg)
Amanda Lamb is on her travels finding you the ideal location for your new house
.jpg)
Your Comments
Post your comment
Please note: In order to post a comment you need to be registered and logged in to Channel 4:
Sign In Here or Register Here
Comments closed
Comments are closed at the present time
Comments
Thank you for your comment!
Your message will be reviewed and the best ones will be published below.
If you intended to make an official comment to Channel 4 please contact us.
Comments