Post by Anna on Nov 27, 2004 17:07:53 GMT 1
Today's edition of the daily newspaper Vecernji List has an interesting article on foreign nationals buying property in Croatia, under the heading "Foreigners are not interested in Adriatic Islands any more".
According to the newspaper, interest from foreigners in purchasing Croatian property in starting to diminish. There are several reasons, according to real estate agencies. The main one is that Croatian property is too expensive and prices have reached the same level as those in Spain and Greece, yet properties are often not of the same high standard. Foreign nationals, in most cases, seek smaller properties by the sea which have traditional architecture and, if possible, with a sizeable plot of land. Such properties are rare, even in Istria where the majority of such properties are located.
Foreign buyers are also reluctant to purchase plots of land because there are no clear guidelines (and laws) as to what can and cannot be built on them. In many cases as well, the deeds of properties are not straightforward or clear.
The newspaper also states that the current political and social situation in Croatia is putting people off. [Whatever they mean by that??]
In the Croatian media last summer, there was a considerable campaign against foreigners buying islands as it was wrongly suggested that there was strong demand for such purchases. Jadranka Biliskov of Biliskov Nekretnine Agency says that only two islands were sold (Smokvica near Primosten and Krknjas near Trogir) and both to Croatian buyers. (Both islands are about 35,000 sq. m. and were sold for €1.2 million each.) There is no interest for any other island that are on the agency's books. According to Mrs Biliskov there was an British buyer for Gustac island (near Kornati; it is 182,500 sq. m., price €1 million) but the buyer pulled out at the last minute.
According to the newspaper, interest from foreigners in purchasing Croatian property in starting to diminish. There are several reasons, according to real estate agencies. The main one is that Croatian property is too expensive and prices have reached the same level as those in Spain and Greece, yet properties are often not of the same high standard. Foreign nationals, in most cases, seek smaller properties by the sea which have traditional architecture and, if possible, with a sizeable plot of land. Such properties are rare, even in Istria where the majority of such properties are located.
Foreign buyers are also reluctant to purchase plots of land because there are no clear guidelines (and laws) as to what can and cannot be built on them. In many cases as well, the deeds of properties are not straightforward or clear.
The newspaper also states that the current political and social situation in Croatia is putting people off. [Whatever they mean by that??]
In the Croatian media last summer, there was a considerable campaign against foreigners buying islands as it was wrongly suggested that there was strong demand for such purchases. Jadranka Biliskov of Biliskov Nekretnine Agency says that only two islands were sold (Smokvica near Primosten and Krknjas near Trogir) and both to Croatian buyers. (Both islands are about 35,000 sq. m. and were sold for €1.2 million each.) There is no interest for any other island that are on the agency's books. According to Mrs Biliskov there was an British buyer for Gustac island (near Kornati; it is 182,500 sq. m., price €1 million) but the buyer pulled out at the last minute.
