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Post by Mirko on Jun 30, 2006 10:47:30 GMT 1
I was last week in Croatia, and was surprised with attitude shown by many Croats in regard to foreigners purchasing property in Croatia. Very negative, in general!
Travelling with two young business executives on a train, they told (with horror!) me, that on Hvar and Brac islands about 30 properties were sold recently at inflated, astronomical prices. Their complain was that foreigners are pushing prices up, and Croats will be not able to match them.
My reply was: "You are wrong!. What about 30 Croats, who sold these properties for 2 to 3 more than they could get it a year or two ago? They are not complaining. And the money will, most likely, finish in CRO economy. Good for the country.
That got them thinking. Was my reply correct or there is a better argument, to prove to my fellow Croats that purchasing property by foreigners is a good thing for Croatia?
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Post by capio on Jun 30, 2006 10:55:50 GMT 1
I think your mistake is trying to reason with idiots.
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Post by valiant on Jun 30, 2006 15:47:22 GMT 1
mirko it isnt as simple as that.
many people work for 3 to 4 thousand kuna a month. the govts allowed foreign purchase of realestate here but are doing nothing about increasing wages or living standards for average croats. most croats cant dream of buying attractive coastal property any more because of foreign demand thats increased prices . those croats lucky enough tobe able to sell coastal property to foreigners for ridiculously high prices are often doing so because they are unemployed in many cases, and have inadequate income and are basicaly foced to sell, they have no option. im sure that theyd never sell their attractive property if they didnt have to.
this govt sucks. croatians are basically their own worse enemy.
greed and jelousy!!
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Post by londonhack on Jun 30, 2006 16:36:35 GMT 1
This is a difficult one. I am from Wales which had a lot of issues in the 1970s with local people setting fire to holiday homes bought by the english. The argument is, as now, that wealthy 'outsiders' pay top rate for property, raising it for the locals, who are generally a Ok, those that sell DO benefit but people who don't - the next generation of adults for example, can't afford to live there. And in Wales, because of its proximity to England, people could drive there for the weekends, b ringing all their groceries, provisions, etc with them so they didn't add to the local economy.
Where I live in London, Islington, my neighbours all complain that their kids will never be able to afford their own places in the area they grew up - it's a working class area that has been gentrified big time. But then again, these are the same people who bought their run down old houses for peanuts and are now sitting on a nest-egg worth a million. And the area - facilities, appearance, atmosphere - has definitely improved.
And look what's happened in Spain - on the Costa del Sol it's 30 per cent foreign residents and they don't mind. They LOVE tourists out there. Why? Because they're brought masses of money into the area and turned formely rural, quite poor areas into thriving resorts - giving employment and a very good living to lots of locals.
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Post by Graham - Bosmere on Jun 30, 2006 16:51:08 GMT 1
We get quite a few clients who are going out to Croatia and Montenegro to look for property and almost without exception it is because they think that they can make more money speculating on property in Croatia than elsewhere. They even quote percentage increases in value (not sure where they get their info from though). In many cases these people have done no research into the country and the politics and their only understanding is the growth potential based on past perfermance.
With the property speculators fueling the prices it is little wonder that the hype is self perpetuating. Once the bubble reaches bursting point they will look elsewhere - maybe S. Italy as was mentioned in another thread.
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Post by londonhack on Jun 30, 2006 17:04:44 GMT 1
It was I who mentioned S Italy before. I am not a property speculator. I am a single woman who works very hard, has a good job and has a little disposable income. I have a friend in the same situation and we would like to buy somewhere idyllic between us, somewhere in the sun and by the sea to invite our friends and family on holiday. Maybe rent a little on side to pay for upkeep, etc, too. But we plan on keeping it for years...it is not a business transaction for us. We have been to Istria twice and were set on buying, but my friend discovered it was actually a lot cheaper to buy in s.italy...I am just curious why that it is so. the fact that prices are so different would make me very nervous about investing in croatia at the prices ive been quoted because i can't see how they can be sustained.
I'm very interested in your view of this.
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Post by lojalnost on Jun 30, 2006 17:08:59 GMT 1
don't make the mistake in comparing one country with another, it's pretty pointless
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Post by londonhack on Jun 30, 2006 17:12:52 GMT 1
it isn't pointless if you're looking to invest a large amount of money. And it isn't pointless if you are trying to compete with other EU countries in attracting foreign tourists and investment.
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Post by lojalnost on Jun 30, 2006 17:16:19 GMT 1
Ooops told off, I meant in respect of finding reasons as to why Croatia is like it is, and Italy is like it is. Croats are definitely not Italians at the end of the day. Yeah but its over inflated, and the bubble will burst at some point. Don't look at Rovinj for a start, its too well known.
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Post by londonhack on Jun 30, 2006 17:25:25 GMT 1
Apols, I didn't mean to be snooty but I thought you were having a go at me! yeah I know its hard to compare - and knowing italy and croatia I really would prefer to buy in the latter as it's more unspoiled. I just have a certain amount of money to spend and I guess am p*ssed off as everything is WAY too expensive that i've seen so far.
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Post by lojalnost on Jun 30, 2006 17:26:54 GMT 1
trying to compete with other EU countries in attracting foreign tourists and investment. are they? who is? why? |
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Post by lojalnost on Jun 30, 2006 17:30:33 GMT 1
Apols, I didn't mean to be snooty but I thought you were having a go at me! yeah I know its hard to compare - and knowing italy and croatia I really would prefer to buy in the latter as it's more unspoiled. I just have a certain amount of money to spend and I guess am p*ssed off as everything is WAY too expensive that i've seen so far. In my humble experience, I've found Croatia a very frustrating place, but then it's not my country and you are right it is very beautiful. If you want to buy there, you can, look around more, and be patient. By the way I'm no expert, just chatting! |
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Post by londonhack on Jun 30, 2006 17:31:42 GMT 1
Well it's a fair assumption, isn't it? Why build new resorts like Olive Island; the big new motorway and allow budget airlines into airports like pula, split, etc. Or is that to let the Croats out?
You're just winding me up!
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Post by lojalnost on Jun 30, 2006 17:37:56 GMT 1
Well it's a fair assumption, isn't it? Why build new resorts like Olive Island; the big new motorway and allow budget airlines into airports like pula, split, etc. Or is that to let the Croats out? You're just winding me up! Croats don't need any help in getting out! I'm just trying to point out that Croats have their own particular style of thinking! Look back through these threads. I'm not a wind up merchant! Well....... |
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Post by bear42 on Jul 1, 2006 8:34:31 GMT 1
Olive Grove and the like will be the start of rot if they continue to build this type of resort .I wonder how Spain started out with their building programme?
Croatia,The med the way that Spain Was!
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