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Why Invest In Property In Croatia 2010

Posted: Wednesday, January 20, 2010

by Tim Coulson
FIRST Property Croatia

Croatia has a tranquil beauty rarely found elsewhere in Europe today. A unique combination of beauty & style creating an intoxicating mix that is hard to beat. The countries stunning natural beauty, largely un-spoilt natural habitats, more than 1500 islands and 5835km of coastline make it a heavenly place to visit or stay.

Many of those who purchase property in Croatia are seeking a so called lifestyle home abroad. They are typically looking for a holiday home that doubles up as an investment and they are lured to coastal living. They have been encouraged by their own experience as a tourist in Croatia, enjoying the rich diversity of history & culture, natural beauty, weather and laid back Mediterranean lifestyle. Moreover, with the forecast growth in Croatian tourism and pending European Union entry they perceive the country as a good medium to long-term property investment with rental income at a minimum covering costs and capital appreciation giving a solid return.

So why invest in property in Croatia? The following are key reasons why Croatia is a solid medium to long-term property investment opportunity:

Croatia hosts some of the most alluring and desirable locations to own real estate anywhere in Europe today.
Culture, history and un-spoilt natural beauty.
Expected to join the European Union in 2012.
Harmonization of economic and political policy in accordance with leading international institutional requirements European Union, IMF, World Bank, World Trade Organisation & Nato.
A government that is committed to fighting corruption, modernizing its judiciary and streamlining its administration.
A favorite tourist destination with the World Travel & Tourism Council placing Croatia in the top five countries globally for tourism growth over the next 7 to 10 years.
Tight planning controls restricting development of property in Croatia, especially on the coast.
A restricted supply of real estate which in turn helps to support prices.
Stable currency linked to the Euro.
Property in Croatia is relatively inexpensive compared with established European destinations.
Considerable and consistent foreign investment in Croatia over the last decade.
A solid domestic mortgage market.

Perhaps the most significant of the above is the countries accession to the European Union which, with the border dispute between Slovenia and Croatia now in arbitration, is expected to happen within the next 2 to 3 years. Apart from the package attached with European Union accession namely judicial reform, financial support and policies to help safeguard foreign investment in Croatia and all of which will encourage inward investment in Croatia, we believe its timing will coincide with a global economic recovery. In doing so the Croatian property market should receive a double whammy, which in turn should drive both demand and prices for property in Croatia.

In conclusion purchasing property in Croatia should be on the list of any discerning real estate investor looking for a good medium to long-term investment opportunity or holiday home buyer looking for a beautiful un-spoilt coastal location in which to own a second home. With pending European Union entry and global economic recovery imminent, owning property in Croatia will once again be at the top of the list of investors from across the globe.

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