Property Experts - Give us your Sales Pitch

[Culchie]

OK, so there's a whole heap of agents reading this forum, some post on here, most do not.

Anyways, without pimping your own specific business, let's hear your sales pitch on Croatian Property, property outlook, economy, where to invest, and typical price per sq meter etc...

Why should people invest in Croatia?

Irac, I nominate you to get the ball rolling.

[irac]

haha, thanks, you'll have to corner one of my colleagues who deals exclusively in it.

From my own experience, there are still good value areas, esp. in relatively explored areas like Peljesac. I wouldn't bet against Slavonia, esp.near the motorway, being a good place to pick up land (look at the Polish model). I think price for land there is still pretty good, 2-5euros per m2 (current farmland). Alternatively along the outer ring road in Zagreb is a decent place to buy in, it might be 10 years before the city moves out there, and I'm really basing this on other areas in the country (eg Sibenik, Trogir).

I guess, Culchie, it all depends on the individual, on why they want to buy, what they want to do, and whether they want a sea view or not. I saw an apartment price rise, in Vodice, from (new) 1,450euros per m2 30months ago to a current resale of 1,900euros per m2! It's the same place, it gets great rentals, but personally I don't see why anyone should pay this! (I'll be shot by my colleagues for saying this!).

[mark2]

It's a bit of a bit of a wide spectrum, as I've found agents that spee in one area, do exactly that, therefore I can't comment on Dubrovnic, Split or Istria.

On the subject of "where to invest" you'll probably only get a biased view anyway. And then when an agency which covers all of Croatia are available to comment, they are basically just running a website using the abovementioned local agents for an additional %.

The one unbiased thing that I shall say is this, i firmly believe (and let them mock, as they will) I can envisage 2 property booms in Croatia, the first being in the lead up to the EU, the Gold prospectors & Fly 2 Let boys, but I can also foresee a rebound due to the fact that many young English & other language-speaking Croatians will venture out into the world, gain well-paid jobs and return in 5 to 10 years (being in the position many "foreign buyers" are now) with a determined wish to buy back into their country and heritage.

As for the price per square metre, this still annoys me, as I've said previously is a square metre of top quality granite flooring worth the same as a decaying square of 1970's concrete, what about location, view, neighbours, industry, noise etc etc

on a final note, we have decided that we won't sell our house (until we can't get up the stairs) It was bought as an investment with the idea of selling up in a few years, but the grass is never greener.

I hear Dubai & Bulgaria are cheap - Buy there!

[mark2]

Sorry, just as an aside, and If Anna would allow it, why NOT have independent agents give their version of the area they cover, for many people they only receive the information from expensive advertising in glossy magazines. There are still many locations in Croatia which are undiscovered or not publicised. As it's a visit Croatia forum it could give alot more information to people intending to holiday or look for property here? Just a thought.

I can't be bothered to sell houses anyway, it's too hot!

[mambo]

Since when can real estate agents give an unbiased view ?

A sales pitch is always that what it is..................a sales pitch............. a lie to make the buyer feel comfortable and lure him/her into buying something which is heavily overpriced.

In the end anyone can say something is too expensive or that the market is over the top, but it is the buyer who decides. If he/she wants to pay too much for a property then that is what will happen.
I can respect people who are honest and admit that they are overcharging. I don't have respect for people who overcharge, but come up with lame excuses explaining why the price is so high.

[mark2]

Mambo, are you saying that all property in Croatia is overpriced, even the many properties being sold by the owners themselves?

[hajduk]

No one is being forced into buying a second home in Croatia... a property is worth what the buyer is prepared to pay for it, if you think it is overpriced dont buy it, but then if someone else does buy it at that price don't complain, because that price is the market value.

H

[Ribaric]

I'm looking at a flat in Varazdin with a view to buying it. It is being built by a big developer and all is quite straight-forward. However, the sales guy showed me a list of months and a price next to each. They've already decided to raise prices, month by month. During the next six months , the cost per square metre goes up by about 100HRK per month.

I can understand a pitch to get people to sign up as early as possible but this is not a marketing ploy, they just think that is how things will be.

I asked him how he knew that values would increase, I don't think he understood the question "of course they will" he said with growing impatience. I think he was a bit shocked when I advised that I had no interest in what he thought the price would be, I may make him an offer as befits my valuation and if he doesn't accept then then so be it.

He thinks I'm from Mars.

[londonhack]

I am curious as to why property in Croatia is so relatively expensive than in other parts of non-EU Eastern Europe. I want to buy in Istria (rovinj) but prices are certainly on a par with EU places like southern italy, spain and even parts of britain.

Not having been to other E Europe countries, I'd be interested to hear people's views on why there is such a price premium in Istria. is it because of the architecture? People's expectations that it is the 'new istria' (forgive the cliche)...interested in your views. Is there anywhere else in Croatia with the natural beauty, architecture, that is better value for money - have been thinking about checking out brac and hvar

[lojalnost]

Istria is so easy for germans, italians, austrians etc to reach, that's probably why its a bit more expensive. I'm not sure how much of a bargain you will find anywhere in Croatia now. Investors have been buying there for a few years already.

[IgorG]

Prices are going up and down according to market movement.
Croatia is far from EU regarding prices, you can find price of 250 eur/m2 and than when you show the money it is closer to 150 eur/m2.

Let's do it EU way. You pay us small fee and we do for you market research. Nothing in this world is free.

[Culchie]

igorg said:

Prices are going up and down according to market movement.

lol, what is that supposed to mean?

Either the market is going up, or it's going down.

[londonhack]

No Igor, nothing in this world IS free! And I am prepared to pay a premium as a foreigner investing in your country. I am very interested in where I can find this property for 250 - 150 m2.....in my travels in Istria I've been quoted 2.000 - 2,500 m2 ......at least. That's not - to quote your words - 'a small fee.' In my language, that's a complete rip off.
Am happy to offer you more than a small fee if you can find me the property which I want, where I want. But I don't want to be taken total advantage of by greedy people. Surely you can understand that?

[Culchie]

I think he means the price of land, rather than property.

[Madgolfer]

There certainly seems to be a trend with a good number of Croatians looking to move out of Zagreb back to their roots so to speak.

With what they can sell an appartment for in the city, (€150k+) they can pick up a good sized "farm" with house, land, barn and outbuildings (€50k) out in the villages, still be within half an hours drive to work and have enough for renovations and a new car!

I understand much the same thing happened around Lisbon, Madrid etc in the 80s-90s.

Good luck to them.