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In this guide to selling property in Croatia in 2018, we take a good hard look at the Croatian property market and reveal interesting things that you were probably not aware of. Not much is known about Croatia; most people are not aware what an exciting place Croatia is and why it is such a popular overseas property destination.
Croatia is often compared to Tuscany in Italy or the Cote d’Azure in France, but with the added advantage that it is much more affordable. If you have a property in the vicinity of Zagreb, or in Dubrovnik, you will surely get a good price for it.
There is a lot of demand for properties in Croatia from German, Irish and Scandinavian buyers. Now, it seems that even Russian and Chinese investors have taken notice of the wonderful opportunities on offer in the country.
For example, an apartment in Dubrovnik, which is the most expensive location in Croatia in spite of having gone up by 30 per cent over the last 12 months, is still 60 percent of the price of a similar apartment in Spain's Costa del Sol.
There is also a mini-property boom in Croatia, which many foreign investors are taking advantage of. Jelena Cvjetkovic, who works for the real market company Savills, says in an interview with the Financial Times: “The increased confidence in high-end homes around Europe, with people starting to make quicker buying decisions, has not yet filtered down to Croatia.”
Mark Thomas, a British expat who lived in Dubrovnik since 1998 says that Croatia “is widely considered very safe with low crime rates.” However, he adds, “Croatia is a new country and there are still some teething problems. The red tape can be frustrating and the scheduled flights from Dubrovnik to the rest of Europe dry up in the winter.”
Thomas also throws some light on the buying and selling of properties work in Croatia: “There have been a few situations where foreign buyers have been taken advantage of by dubious agents and have fallen foul of confusing paperwork.” That is true – some properties may have multiple legal owners, some of whom might well be dead or out of the country. The land registry files in Croatia are not too clear either.
In spite of that, there are certain advantages possessed by Croatia that has made it the toast of the overseas property market. For one, it is a remarkably clean country with one of the lowest instances of pollution among all nations in the world.
You won’t find any excessive development anywhere in Croatia. The government of Croatia has clamped down on any overdevelopment of real estate in the country and has worked hard to preserve the biodiversity of the region.
The fact that Croatia is a full member of the European Union also goes in its favour. There has been a massive development of infrastructure across the country, especially in the regions of Vodice, Sibenik, Primosten, the Peljesac Peninsula, Korcula and Hvar.
Certainly, there is a great demand for properties in Croatia. We are a UK estate agent specialising in the overseas property market. Contact us to know more.