Croatia Property Bounces Back

After civil war plaguing the country throughout the 90s, Croatia is starting to regain it’s popularity with tourists again through the lure of it’s 6,000km of Adriatic coastline and 1,000+ islands.

In the 1980s, Croatia had a thriving tourism industry, attracting millions of people to it’s stunning countryside each year. However civil war wiped most of this tourism out and it is only now that the tourism industry is really getting back on it’s feet.

This emerging tourism industry makes Croatia ripe for foreign property investors with a rental market that is also growing substantially. The reasons for this growth are self-evident – miles of spectacular scenery, low living costs, good accessibility, excellent property development plans, EU accession forecast, and property at knock-down prices. The country also boasts good tax benefits for many overseas investors – income is tax-free on overseas pensions, as are things such as capital gains from trading securities and other financial assets.

One thing to watch for is that estate agents are, as yet, unregulated, therefore you must choose your land agent carefully in order to make sure you get a good deal. Many international agents operate in Croatia so you may find it worth your while to see if any estate agents or law firms deal with Croatian properties on a regular basis as this may be the easiest route in to the country.

Most property investment opportunities are in the capital city of Zagreb – a city which houses nearly a quarter of the country’s population, although there are good investments further out if you take the time to research carefully. There are plenty of new developments planned for the future including five new golf course developments in Istria, so there should be plenty of choice. In Zagreb, expect to pay around 100,000 Euros for a luxury two-bedroomed apartment with car parking space and access to a communal swimming pool.

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