Croatia A great real estate market
The demand for real estate on the new Côtes in Europe is increasing. Experts such as Chris Kalin of Zurich based international property consultants Henley & Partners, are expecting "average rises in Croatian real estate prices of 100% to 150% over the next three to five years." Croatia is perfectly placed for owning a second home, as an investment or as a income generating business, with over 600 million people within three hours flying distance.
Developers react to new upcoming markets which result to coast lines being overdeveloped quickly. Croatia however is sailing a different course; only very few houses and resorts have been build. In 2004 the government adapted a new law that prohibited the wild development of real estate along the coast. This law intends to maintain the original character of Croatia 's coast. Croatia , with its slogan: "The Mediterranean as it once was" is taking a more sustainable approach to its future. That is why Croatia will outshine other 'second home destinations' such as Turkey and Spain in quality.
Construction rights for building a villa at the sea or an apartment at the sea are limited. You will not find many large resorts in Croatia, only a few developments, carefully masterplanned with respect for nature and surroundings.
The coast of Croatia attracted in 2007 10,2 million visitors. The growth in tourism is estimated at a 7,6% annually for at least the next 9 years. With this Croatia is positioning itself among the top 5 fastest growing destinations (source: World Travel and Tourism Council). The average spending power of the local Croats has also doubled since 2001.
Croatia and the EU
Croatia borders 2 EU countries. Negotiations and law adaptations towards EU law are taking place on a day to day basis with EU admission date expected as early as 2009. Middelland participates actively in the dialogue about admission. Most laws are already in line with EU regulations. Tax laws protect investors from paying tax twice and investor regulations assure that any investor can repatriate his profits at any time. EU admission expectations are making the country only more attractive for investors. Foreign investment if further promoted by the 'Croatia Investment Promotion Outreach Alliance' (CIPO). Mortgages have only since recently become available to foreigners. The spinn-off from a whole new group of buyers is yet to come. EU will open the market for all banks abroad to offer this service.Croatian real estate can be considered as a great market!