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Post by architect on Mar 21, 2004 14:41:19 GMT 1
Those of you who keep an eye on these things will have noticed a dramatic increase in property coming to the market - what do you think this spells for the future?
Speaking as some one who has already bought property it would interesting to know where others see things heading this year and what kind of property will remain in demand - apart from affordable ones that is.
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Post by cronautic dot com on Mar 21, 2004 15:03:55 GMT 1
as most of the property offers coming new to the market are away from the sea and in future it will be hard to get a building permission for properties directly at the sea, in my opinion property situated directly at the sea and in reachable distance to the international airport will always be a good investment.
-such are coastline from primosten to omis
-krk island
-dubrovnik-cavtat region
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Post by Anja on Mar 22, 2004 1:43:49 GMT 1
I get most of the demands for Brac area and the prices on Brac are hitting the roof.
I do not understand really why is this.
The ferry price ( by car) for a day return ( or one way) Split-Brac is 340kn.
The grocery prices in Brac in the summer are ridiculous..almost like Harrods.
There are still some areas which you can reach easily from Split/Zagreb without any hassle e.q "such are coastline from primosten to omis" which cronautic mentioned.
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Post by ChrisC on Mar 23, 2004 17:02:35 GMT 1
I get most of the demands for Brac area and the prices on Brac are hitting the roof. I do not understand really why is this. The ferry price ( by car) for a day return ( or one way) Split-Brac is 340kn. The grocery prices in Brac in the summer are ridiculous..almost like Harrods. There are still some areas which you can reach easily from Split/Zagreb without any hassle e.q "such are coastline from primosten to omis" which cronautic mentioned. I think it's the goldrush effect - Brac has been mentioned on property programmes in the UK and Germany so the number of enquiries inflates the market price and this becomes evidence of the desirability of the area. |
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Post by Graham - Bosmere on Mar 23, 2004 21:42:38 GMT 1
The Wild West springs to mind Chris. Just look out for the cowboys and the gold diggers  |
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Post by Anja on Mar 25, 2004 15:48:04 GMT 1
I think it's the goldrush effect - Brac has been mentioned on property programmes in the UK and Germany so the number of enquiries inflates the market price and this becomes evidence of the desirability of the area. BTW Brac locals are mentioned in local jokes as 'very tight’, especially when they need to spend some money. One of the jokes said that lizard started existing only when they gave a man from Brac to feed a crocodile.. No offence to anyone.. ;D |
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Post by Rachel on Mar 25, 2004 22:34:43 GMT 1
I don't think that you can compare Brac with the coastline between Primosten and Omis and further on to Dubrovnik. Brac, as an island, gives completely different feeling than the area around Split. On Brac you can even as 1-day tourist find your "own" natural beach which is impossible to find elsewhere. This can only be explained if you visit all these places and then compare.
Also, Braèani make jokes of themselves for their tight-fisted character; I spent there many weeks and I cannot tell it's true, or even if it's true, they are right, they are hard-workers and it hasn't been so easy to survive there. Also, this is only relevant in Croatian terms, because here people usually spend money on their guests, friends, even people whom they've just met, which is also common to other "Balkans" people. But it's a little bit strange to "Western" Europeans who cannot understand why one should pay a drink to her/him (at least that was experience of my friends and myself) - in fact, there's no explanation of this, it's like that, so, if a Braèanin doesn't buy him a drink, an "average" Croatian can call him tight-fisted, but for others, it's just a normal behaviour.
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Post by Nick L on Mar 31, 2004 12:58:40 GMT 1
My 'theoritical' view on this is:
Building companies are building property to sell for a REAL market. Not a perceived one. They have done their homework and know property sells.
They have worked their figures like any commercial venture - they know how much they need to achieve for profit, they aren't going to drop the price to make a loss due to other places being built.
As has been said before - property on the sea front will always remain in demand, as will property with a sea view. (not to say that other property will not of course).
Having bought a place in Novigrad - and seen lots of other places being built it is clear that people do want proximity to the sea and a sea view. llustrated by teh fact that most places are only half built and most already sold.
I understand your question, in as much as supply exceeding demand will push prices down. True. But you should remember we are operating in a market which is far wider than just localised. A 2 bed apartment on Majorca will cost you £200k, the same thing in Istria will cost you £60k. Market forces mean that if Croatia ticks all the right boxes (which maybe it doesn't yet - but it is surely only a matter of time) then demand will rise as price is more attractive. Therefore over time price will increase - as will supply due to more people getting in on the act. If they don't sell, then supply will be halted - people aren't building them for fun.
Who knows - Bottom line is I love the place, I would far sooner be there than Spain and I am not alone with these thoughts.
It's also worth knowing that are a local town plans of areas where houses / apartments are due to be built, so it is possible to find out before buying. Or at least this seems to be teh case for Istria.
Nick
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Post by former economist on Mar 31, 2004 18:37:59 GMT 1
at least i understand why croatian kuna is said to be over valued. property being sold for foreign exchange makes means increase in foreign currency supply as well, which makes it cheaper relative to kuna; meaning kuna's value increases... domestic export earns less on foreign market, but do we have any strategic export at all.... kuna should be turned down only if the earning on the national export from the currency value change will be greater than the loss from the property selling incurred by the currency change.... otherwise croatia only makes its goods cheaper for foreigners buying in croatia... is that a final goal of croatian economic policy? i don't think they'd do anything good for domestic business or domestic gain; this is very short-sighted policy as usual. they really want to sell everything out for foreign money and make croatian property as cheap as possible if they really proposed to depreciate kuna now when the property sale to foreigners is high..... at least that's what the news are saying, but they don't seem to reveal the true reason behind the proposal to deprecitat kuna: which may well be intended to manipule the effects of this S/D property change produced on S/D foreign exhange currency change... at the expense of national economy earning and in benefit of foreign market demand for domestic good.....
(sorry, couldn't make it any more complicated....well, just trying to recall quickly some old international economics tips, but i think my memory serves me pretty correctly in this: yet another detrimental govt policy's coming up for their narrow interest -- they just want to finance their short-term mandate and for this reason they'll sell the priceless property of many future croatian generations... so disapointing)
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Post by fe on Mar 31, 2004 18:52:32 GMT 1
to make it simple, the cro govt is about to stimulate the property sale through the foreign exhange manipulation which will make croatian property cheaper for foreigners. get a real economist please to check what they're doing in croatia.....
when one sees what's made a tourist attraction from in other countries, his/her heart must break seeing how cheap they sell natural resources of an unparalell beauty....
anyway, good luck to all honest buyers who'll preserve croatian beauty....
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Post by Marianna on Apr 7, 2004 13:04:06 GMT 1
I would like to answer to Nick, concerning the prices for an apartment, you say that the prices in Mallorka, are 200K, buth I have a friend how has bought last year an appartment, sea vieuw, first row, 2 bedrooms, 2 bathrooms, kitchen-livingroom, with a big terras sea vieuw, in a uilding from only 2 storages, his little garden on the back from the building vieuw to the mountains,
completely furnisched, for 55000 Euro. Bought from the owner. So I think this is mayby a good investment, for that price, and if you really loock arround and take your time you can easy find still property on normal prices.
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Post by Anja on Apr 16, 2004 12:29:02 GMT 1
as most of the property offers coming new to the market are away from the sea and in future it will be hard to get a building permission for properties directly at the sea, in my opinion property situated directly at the sea and in reachable distance to the international airport will always be a good investment. -such are coastline from primosten to omis -krk island -dubrovnik-cavtat region At the moment I see the biggest demand on land or for example we have companies who build houses and apartments to fit customers ideas/designs, currently this method has been seen by my customers as a most interesting and cheapest. One of examples of such constructions is villa Fis on Omis riviera, which received 4 stars by standard inspections: www.thisiscroatia.com/apartments.html |
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