Beautiful Croatia Real Estate and Property

You will be stunned by the sheer beauty of real estate in Croatia.

Learn more about real estate in Croatia in IL Postcards.

With more coastline than any other European country, Croatia real estate is some of the most exquisite real estate in the world-and at the lowest prices. But a powerful trend is currently under way. Tourists are returning. Property prices are rising. The future looks bright.  Now is the time to pay attention to this market, where you could double or triple the value of your real estate investment dollars in a short (that is, three- to five-year) window. The long-term could be even more promising. Now is the time to stake your investment claim-in Croatian real estate or any tourist-related business.

The short-term rental market will grow with the number of returning tourists. Unspoiled, relaxed, beautiful, and safe, Croatia is one of Europe's loveliest treasures. Everything a discriminating visitor-or home buyer-is looking for can be found right here: crystal-clear seas, timeless fishing villages, and unspoiled beaches, Roman ruins, a pristine lake district, and medieval walled cities. Although real-estate prices in Croatia have been increasing at a rate of between 20% and 30% per annum in recent years, it's still not too late to buy. Prices are way below the European average. When compared with many other European vacation destinations, real estate agents are right in claiming that the Dalmatian coastline still has significant growth potential. Now could be an ideal time to snap up a Croatian property, as it seems most unlikely that prices will fall. Especially since Croatia is seeking accession to the European Union by 2008.

The Zagreb property market

Quality apartments in central districts of Zagreb mostly range in price from $214 to $258 per square foot. Just below Medvednica, on hills overlooking the city (only 10 minutes' driving distance from the center), you can find newly-built apartments from $231 per square foot. The farther you get from the capital, the more chalet-type houses reminiscent of Austria start to appear-and the more prices start to fall.

Purchase Croatian real estate for sale on the Istrian peninsula

Istria's nightingales (and when did you last hear nightingales?) have much to sing about.  Dangling like a leaf from the very northernmost tip of Croatia, the Istrian peninsula lays out a mosaic of sapphire seas, charming huddles of red-roofed, walled towns, campaniles, bell-towers, loggias, old Venetian ports, pristine pine forests, sun-drenched coves, and small pebble beaches. Istria is the largest peninsula in the Adriatic region. More than anywhere else in Croatia, you'll probably feel as if you've landed in Italy-Tuscany, to be exact. Away from the coast, the landscape stitches together vineyards, olive groves, quaint stone houses, ancient watermills, evergreen cypresses, and blossoming myrtle. Thankfully, Istria doesn't get the same amount of summer visitors as Tuscany (well, not yet). Although German real estate buyers are here in force, the real estate market hasn't seen quite the same explosion as farther south, around Dubrovnik.

Split and the central Dalmatian Coast

It's possible to buy Croatia properties within the Diocletian Palace, but a big concern about ancient properties is title: make sure it's watertight. As a result of the war and years of emigration and subdividing, title can be a serious problem. You don't want to be later ousted by the relative of a long-gone emigrant. If a property seems suspiciously inexpensive, beware. Few foreigners buy in Split at this moment, but things could change if resort prices keep spiraling. Prices in the city can be as high as $372 per square foot for new apartment residences in elite locations on Marjan Mountain, but the average is around $300 per square foot.

Dubrovnik Real Estate

Dubrovnik is more beautiful than you can ever imagine, but it's remarkable that anything remains. For seven months in 1991 and 1992, it was bombarded relentlessly by Yugoslavian army shelling. They wreaked immense damage, but under a UNESCO reconstruction plan the city has been meticulously restored. Real estate prices in Dubrovnik increased by 20% to 30% annually, in 2003 and 2004, while the area saw a 10%-15% increase in the first half of 2006. Yet even though prices have taken off, property here could still prove a worthwhile investment, for several reasons. First, space in Old Dubrovnik is limited-planners cannot add more buildings to what's already inside the medieval fortifications. Second, it has become a hot destination-high-end cruise ships dock every day, and tourists are returning to its nearby holiday resorts in force. The Croatian government is intent on marketing this southern part of the country as a top-end destination. The average price here is around $517 per square foot. You'll generally pay more for houses-usually $520 to $560 per square foot.

Learn more about real estate in Croatia in IL Postcards.

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04/12/2006 - Where I'm Buying (Right Now)
This is Grade A property, the kind of real estate that could hold its own against the best the world has to offer, including Paris (where I live). I think the rental potential in Dubrovnik is huge.

04/09/2006 - Buying Farmhouse Real Estate in Istria, Croatia
When I told a friend that I had bought an old stone farmhouse in Istria, Croatia…he responded: "Ah, the new Italy."