Steeped in centuries of colourful history,
home to one of the world’s most well preserved fortified cities and
blessed with an idyllic Adriatic coastline, Croatia’s appeal is
extensive. Its borders brush the slopes of the Alps, plunge deep
into the Pannonian Valley and overlook the Danube and Drava rivers.
Its interior comprises verdant forests, deep gorges, a collection
of magnificent lakes and rich vineyards as well as smatterings of
quaint villages, romantic castles and stately manors. Named ‘the
Pearl of the Adriatic’ by George Bernard Shaw, and enjoying a blend
of Mediterranean, Southern European and Balkan cultures, Croatia is
one of Europe’s best kept and most beautiful secrets. With 1185
islands lying just off its coastline, Croatia offers a host of
secluded beaches and tranquil island living.
Travel and tourism now accounts for around 25%
of the country’s GDP, 28.7% of its total employment and is expected
to grow 6.4% in 2008 in line with the government’s plans to attract
11 million tourists by 2010. With further increases of 7.1% per
annum in real terms expected over the next decade, it’s no surprise
that Croatia sits in 9th position in the World Trade and
Tourism Council’s ranking of the growth rates of 176 countries.
Before the dissolution of Yugoslavia, the
Croatian Republic was one of its most prosperous and industrialised
areas, with a per capita output around one third above the Yugoslav
average. After a mild recession in 2000, the economy stabilised,
and growth has averaged 4-6% for the last few years. This should be
accelerated by the country’s expected accession to the EU,
scheduled for 2010. Where foreign investment is concerned, the
government has introduced several measures to make the climate more
attractive, including the establishment of the Agency for Trade and
Investment Promotion which has a mandate to assist potential
investors in Croatia. Foreign investors have the same rights and
status as domestic investors (providing a condition of reciprocity
is satisfied with their country of residence) and may invest in
nearly every sector of the economy, although it is necessary to
seek permission from the Ministry of Foreign Affairs before making
any property purchases.
Still in this Chapter
Is this is good place to Buy?
Which type of Property should you go for?
Hotspots
The Purchase Process
Mortgages
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