for Sale in Croatia
• Prime tourist destination
Italians, Germans, Austrians and Russians have been spending their
holidays in Croatia for years. In recent years, with media coverage
has escalating dramatically, tourism has been growing by more than
15% per year. This benefits Croatia, but also many foreign property
Proximity to western Europe, easy access
Istria is easy to get to. A flight to Pula airport is less than
three hours from Heathrow. A budget flight with Ryan Air to Trieste
in Italy deposits you less than an hour from the Croatian border
Istria is just across the Adriactic from Italy and has had centuries
of interaction with western European countries. Hence, compared
to countries such as Bulgaria or Romania, Croatia is culturally
closer to western Europe - Istria particularly so.
Croatia is investing heavily in road networks, communication systems
and public service infrastructure. Recent grants from the EU have
helped. As a percentage Croatia's year on year growth of GDP is
ahead of all countries in western Europe.
The mountainous interior of Croatia can get very cold, but Istria's
Mediterranean climate means that it is generally mild. See climate.
In the EU queue
Croatia has been granted the initial applicant status by the EU,
and is now in the process of ensuring compliance. It is expected
that Croatia will be admitted in 2007. Judging by the economic upturn
in the stats for the latest 12 members of the club, this will be
good news for anyone with an interest in Croatia.
Good value - compare property values with Italy
Housing in Istrian has a lot in common with housing in Italy ('new
Tuscany', etc). This makes sense as a lot of the housing in Istria
was built by Italians. Istria shares the same weather, sun and sea.
Looking at Italian prices indicates that Istrian housing stock is
Letting a property in one of the popular tourist areas can more
than pay for the cost of the mortgage, and the tourist season is
becoming longer each year.
Capital growth prospects
Properties in good condition and locations are presently increasing
in value at about 16% a year. With good quality renovation and decoration,
some are achieving considerably more. There are few 'crazy' bargains
with clean title, but with a considerably lower entry cost than
in the UK, capital growth prospects are very good. Top
through any travel magazine or newspaper supplement and look at
the prices for a holiday in Croatia. There is a huge demand for
holidays. Those who prefer not to take the ‘package’
route will be looking for accommodation. For a good flat in a prime
spot you can expect to be booked for more than half of the year.
You can charge more in the peak season (July and August) too. It
is not uncommon to be able to completely finance your borrowings
for the property from this income.
course there is more to letting than just having a nice place. You
can appoint an agent to manage your property for you, or you can
find a local resident to do it for you. Either way you need to be
prepared for guests. You will need insurance, a cleaner and someone
your guests can call in an emergency, at least.
goes without saying that you need to view your property with the
same critical eye you would use if you had just arrived, having
paid in advance. Bear in mind that in the long term your best business
will be repeat customers and their friends. Everything must be clean,
tidy and in working order. Guests must be met and possibly helped
with their bags. Preferably the person who meets your guests should
also sort out payment of the tourist tax for them.
promote your property it is best to pay to be included on a website
dealing with the area you are in. If this is a Croatian site, expect
to pay no more than €150 pa. for this. If your property description
on this site is linked to your personal property website, so much
the better. If you have questions or want advice about managing
or promoting your property, or constructing a website, please contact