Property investment on the beautiful Adriatic coast is starting to look interesting again for foreign investors after a long period of uncertainty. Once a very popular tourist destination before the break up and troubles of Yugoslavia, the area never really recovered due to legal issues for property ownership.
Now however, with EU accession the picture has become clearer and the property market has shown constant annual growth of 5 per cent for the last two years.
Since Croatia joined the EU legal security is much improved, and coupled with low interest rates this has helped to boost property values and stability.
In recent years Apartments are the most affordable and popular choice, and subsequently show the strongest growth, also partly due to their rentability.
Most coastal property in the region has been purchased by neighbouring Slovenians who themselves lost out on coastline when borders we set during the break up of Yugoslavia, but both Germans and Austrians are also investing in the region, particularly in areas such as Istria, Opatija and Krk Island.
Dubrovnik is the most expensive city in Croatia and showed a 6 per cent rise in property values over the last year, but Zagreb is still the most popular in property searches, followed by an increasing demand for coastal apartments.
On the coast prices for property close to the shore can reach over 5,000 euros per square metre, but moving slightly away prices drop to between 2-4,000 euros.
Land is also becomming available close to the shore at low rates of just 400-1,000 euros per square metre for those wishing to build their own seaside property.
Whether buying property or building it is best to hire a local lawyer, as legalities, though clearer and safer, can still be complicated and permits to build can take time.
It could all be worth it though, to obtain your seaside dream home on one of the most picturesque coastlines in Europe.
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