Croatia Property Investment For Sale | Guides, Economy and Croatia Hotspots
"A popular tourism hub but not the investment it once was.”
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 most beautiful countries benefitting from an average of 260 days of sun and year. With 1185 islands lying just off its coastline, Croatia offers a host of secluded beaches and tranquil island living with brilliant sandy beaches.
It is no surprise therefore that a large percentage of the Croatian economy and employment centres on the tourist industry. For the same reasons the country has become a popular property investment centre with foreign investors given the same rights as domestic investors. Thriving before the European recession, Croatian real estate prices have however continued to fall since and look unlikely to recover in the near future.
Croatia has suffered dramatically since the sub prime crisis hit the world with high unemployment, uneven regional development and a difficult investment climate with reduced exports and capital investment. With a high foreign debt, a strained state budget and an over-reliance on revenue gleamed from tourism it looks like it may take some time before the country can bounce back.