Real estate for sale in Croatia is particularly aimed toward high-end investors. What does this say about the real estate market and how it will evolve for a nation that has recently entered in the EU in July 2013?
The truth is that an immediate change was not noted in consequence of this step. Continual price drops have occurred, due to the worldwide critical situation. From 2007 to 2012 real estate prices decreased gradually, until arriving at a drop of 30%. In 2014 important investments in the touristic sector are foreseen in order to restore and create new welcoming structures, with the intention of creating greater value for the country, in Europe and worldwide.
Prices for premium properties have started to pick up in a number of areas, such as Dubrovnik, Spalato, the Istrian Peninsula, and the boardwalk of the Adriatic. Buyers, both from and outside of Europe are beginning to reconsider purchases and prices in these areas. Prices in the historic center of Dubrovnik go from 3,000 to 4,000 euro per square meter.
The spectacular high-end residences in Croatia attract buyers from all over Europe and America. Before the crisis the majority of foreign buyers were either English or Irish. Whereas today, there are many Russian buyers or citizens from the former soviet republic who have expressed eager interest in the real estate market in Croatia. Houses, villas and land found on the islands or along the coast attract a particular type of buyer. These locations are perfect for those who desire direct beach access or those who enjoy spending leisurely time aboard a yacht.
The Croatian real estate market is not completely open to everyone , seeing as the country does not share bilateralism with certain countries. The fair-trade agreement between Croatia and the European Union favors purchases, eliminating restrictions and limitations. Almost half of America, including New York and New Jersey, benefit from bilateralism, as does Ukraine.