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There are hopes that the property market in Croatia will fare better this year as enquiries are already up from the previous year. While sales volumes are still low investors who have shown interest over the last year are now beginning to buy, and its hoped that as economic conditions in Europe continue to improve this trend will continue.
Homes that are by the coast are proving popular and fetching prices that are not too far off previous highs. Those that are near the sea are also selling well and make an ideal investment as there is still an oversupply of apartments which has led to some heavy discounting. Properties in Split have fallen 20% in value which makes them extremely affordable especially as they can generate good rental yields.
Before the recession, Croatian estate agents tended to be ill informed and did not provide a good service, but luckily that has now changed, and they are a lot more competent and price properties correctly. In general property prices in the country have fallen 20 to 30% but it is difficult to quantify these figures as there is a real lack of reliable data.
Croatia is soon to become a member of the EU and should benefit from its coordinated economic policy approach. In order to become a member of the EU Croatia had to become a far more democratic country where the press is now free to question governmental issues. It's difficult to estimate how much of an effect accession to the EU will have on Croatia property prices, but it is expected to be positive.
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