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Croatia real estate market in summer 2013
The summer of 2013 showed further decline of Croatia real estate market prices. Most European real estate markets are showing rise of property prices, Croatia is still in recession and prices are falling.
Interest of our foreign clients in Croatia real estate listings (houses, apartments and land plots) has been very strong this summer 2013. Most buyers and in search for affordable offers in Croatia and are only ready to pay realistic prices. On the other hand, Croatia still didn't implement annual property tax, so many owners are keeping high prices for their real estates as it doesn't cost them anything to have empty property sitting for years. One of the most expensive real estate markets in Dalmatia, also has the largest property prices fall in 2013 - Dubrovnik.
High interest of buyers this summer didn't yield proportional real estate sales volume. Even less transaction were done than last year, failing to restart stale Dalmatia real estate market in 2013, as many have hoped for. Interesting is that most of Croatians own a real estate, with over 92% in possession of an apartment or similar. Only Romania and Lithuania have more owners than Croatia. To make this statistics even more interesting, some of the wealthiest countries in Europe have least owners. For example, Switzerland with less than 44%, Germany with 53% and Austria 57%.
High interest of foreigners in Dalmatia coastal real estate and island real estate in Croatia offers in recent years resulted in prices being much higher in these areas than in continental Croatia. At the beginning of 2013 average house was priced below 1.500€/m2 in Zagreb, but similar item was listed for sale at over 3.500€/m2 in Dubrovnik. Today we can see that volume of real estate sales is much higher in Zagreb than in Dubrovnik, but without annual tax there is not much incentive for owners in coastal and island areas to lower prices significantly. Banks are also major player in Croatian property market and their influence on real estate prices in 2013 have been clearly visible. Having a lot of funds invested in unsold properties in Croatia, banks are unwilling to allow for real estate prices in Croatia to fall as their investment was made with high interest rates few years back when property market was growing and real estate prices being stable.
First class real estate locations in Croatia will always keep their prices and even at the time of worst economic crisis, first row to the sea have kept its value. Sea front is the most common buying option for foreigners in Croatian market in 2013 as well. Islands have lost appeal a bit in last few years and more sales have been done in coastal areas, like Split, Trogir, Kastela, Ciovo, Rogoznica, Makarska etc. One of our main real estate sales areas were for many years islands like Korcula, Brac and Hvar, but they had less property sales in 2012 and 2013.
One important new part of Croatia market is EU entrance. Real estate mortgages in Croatia and other types of financing are becoming more available for EU citizens wanting to buy in Dalmatia.
What can be expected in real estate sales in Dalmatia in 2104
Many world travelers will tell You that Croatian coast is one of the most beautiful in Mediterranean. Adding to this over 1.200 islands makes this real estate region even more impressive and desirable for second home real estate buyers. After several years of stagnation, foreign buyers are coming back to Croatia. Only this time they are much more selective in their property choice and require a true value for their money. Long gone are times of economy boom in Croatia 7-8 years ago when demand was stronger than supply on Croatia real estate market.
Eu ascension on July 1st 2013., as predicted, didn't bring any major change on the real estate market. This was mainly expected due to the fact that since 2009, Croatia allowed same buying procedure for EU citizens as for Croatians. Maybe more important change with EU membership is that now foreign property owners in Croatia can rent their houses and apartments with same conditions as Croatian owners.
Many low cost airline companies have established regular flights with airports in Croatia. Most prominent towns in this are Zadar, Zagreb, Pula, Split, Rijeka and Dubrovnik. Check timetables for flights in Croatia directly online:
http://www.split-airport.hr - SPLIT AIRPORT ltd. • Cesta dr. Franje Tudjmana 1270 • 21217 Kastel Stafilic • CROATIA • Tel: ++385 (0)21 203 555
http://www.airport-dubrovnik.hr - Dubrovnik Airport Ltd., 20213 Cilipi, Croatia, Tel. +385 20 773 100
http://www.rijeka-airport.hr - Airport Rijeka d.o.o. - Hamec 1 - Omisalj - Hrvatska - tel. ++385 51 841-222, ++385 51 842-040
http://www.zadar-airport.hr - Zadar Airport ltd., P.O.BOX 367, 23 000 ZADAR, CROATIA, Telephone +385(0)23 205 800, +385(0)23 205 832
One important legislative procedure recently brought a new law to legalize illegally built houses and construction in general. There were over 800.000 requests for property legalization. Though it is a major step forward in regulating property market, that many illegally constructed object in a less that 5 million citizens country only shows how deep the problems were. For more detailed information on real estate legalization procedure and benefits, please visit directly website of Ministry of Construction and Physical Planning of the Republic of Croatia at http://www.mgipu.hr.
As legalization is bringing more houses for sale on the market, the choice for foreigners looking to buy a property in Croatia is becoming better with time. Hopefully, this will also bring more realistic real estate prices, as many areas are overrated and overpriced. For regularly updated property price index, visit CENTAR NEKRETNINA website at http://www.centarnekretnina.net.
Croatia is now a part of EU!
Bringing much anticipated security for our buyers, Croatia's EU entrance is welcomed. Croatia real estate market has been stagnating for last few years, but we can already see positive reactions. Sale of listings has always been hampered by absence of financing for foreign buyers. Mortgages and loans are becoming available for buyers. Browsing through our listing offers will give You wide choice of items for sale.
Buying a seafront Croatia real estate villa is the most common request that we have. Still, first row to the sea apartments and land plots in Croatia are also real estate in high demand. Seafront location is best investment You can make. Beautiful bays on the coast and islands have many offers for sale waiting for You. Our agency is mostly dealing with higher end property for sale, but our agents will be glad to accommodate any request.
Croatia future in EU is bright. People from all over Europe are coming every summer for their vacation in Dalmatia in large numbers. Many of our buyers spent their holidays in Croatia for years. before deciding to buy a villa or apartment. Owning Croatia villa does not bring as much financial real estate burden as owning in most other European countries. Croatia still doesn't have yearly tax. Here are several articles about most popular property locations in Croatia, that can help You in buying process:
Why are Vodice so interesting for real estate sale in CroatiaA tourist destination located close to Sibenik. Vodice position on a coast makes it easily accessible by highway and good location for real estate owners. Since Vodice are only about 10 kilometers from Sibenik, a rich history and heritage sites like Sibenik cathedral are only a short drive away. On the other hand, a lovely bay in which Vodice are situated provides so many great activities and fun throughout the year. Worth mentioning is that villas in Croatia and apartments for sale in Vodice are usually more reasonably priced that in other parts of Dalmatia in Croatia.
Ciovo real estate 2013 salesSince Ciovo is connected to the mainland, to Trogir, by bridge, there is no wasting time waiting for a ferry or catamaran to get to Your villa or apartment in Croatia. Future development plans in Croatia for this area include building of a new bridge that would provide better communication between mainland and the Ciovo. The island has several villages that are well connected by roads and the infrastructure is in excellent condition, well maintained and renewed frequently. Closeness to Trogir provides anyone buying a villa on the island or an apartment on Ciovo, with many great places to visit in Croatia as there is something for buyers of all ages. Real estate in Trogir center is very expensive, due to limited offer of space and those are always properties in Croatia with lot of history behind. Coupled with problems that can be caused by conservation office in Croatia that requires every aspect of renovation of old real estate in the Trogir center to be in compliance with their guidelines in Croatia, and You can find Yourself spending much more time and money than initially planned.
First row to the sea real estate in RogoznicaApart from its beauty, the “Marina Frapa” is one of the safest port in the Adriatic. This marina was selected as the best nautical marina in the world by respectable "Master Yachting". Rogoznica marina was awarded a blue flag in Croatia, meaning perfectly clean sea and the harbor. There are 400 sea berths, tennis, pool and squash courts, sauna, table tennis and bowling. Our agency has Rogoznica land plot, villa or apartment listed as property for sale with low price for Croatia market. Near the marina is an exiting natural phenomenon - a sea-lake called "Dragon Eye". The lake is interesting for the fact that it is considered a natural bio-reactor connected to the sea through a long cave.
Korcula property as best choice in CroatiaFor many years island Korcula attracts our clients in search for a perfect second home or a holiday property. Our agency has wide selection of properties on Korcula and many houses and apartments for sale are very affordable. One of the main advantages for owning a property on island Korcula is that the nature on this beautiful island is very much preserved as it was through the centuries. Large pine forests and colourful vineyards will enrich Your drive through the island. There are so many excellent locations on Korcula for buying a land plot property, that it is hard to chose favourite.In general, You would like to stay further from old Korcula town, which is overpriced and crowded with tourists throughout the year. Only buying a property for renting makes sense in the centre of Korcula. If You would like to enjoy the nature, You would be much better in the areas like Karbuni, Prizba or Lumbarda.
Primosten area property buying adviceThousands of foreigners flock to Primosten every summer and some of them are looking at property buying as a long term goal. Who can blame them, when this is an epitome of fantastic landscape and traditional values of Dalmatia and Mediterranean? Primosten peninsula is a postcard perfect example of what draws a demanding clients for property buying in this area. Prices are not too high and most of the sea side and sea view locations offer plenty of space. Building areas in Croatia are not overcrowded, so it is easier to see Your future in buying a land or apartment in Primosten than for example in near by Sibenik. Contrary to most other Dalmatia regions, in Primosten inland locations are also prominent choice for our clients. Many villages like Vadalj and Vezac offer splendid sea views although kilometers from he sea. Prices are lower here, so buying a land plot is less of a expense.
Omis is a small town in the heart of DalmatiaIn present times, Omis and the surrounding small towns are bursting with tourism development. Because of the nature that surrounds all these villages and small towns, this gives them an important place in Croatian tourism. For this 30 kilometers stretch of Croatian coast, many traditional places have found location, like: Jesenice, Dugi Rat, Duce, Omis, Stanici, Celina, Rogoznica, Mimice, Medici, Marusici and last Pisak. All this places are part of long Riviera of Omis and there are all types of beaches there. All those wishing to escape the city noise, in this area you can find peace in nature and small fishing villages on the Riviera. And those who want an active holiday are also in the perfect place (rafting on the Cetina river, popular free climbing, paragliding, scuba diving, excellent sailing, volleyball, table and real tennis, etc.). All in all, you can enjoy many popular sports on earth, water and air. Real estate is highly sought after in the area near city Omis.
2013 buying property island BracHourly ferry lines is one of the main reason why this island is so easy to reach, even in busy months of summer. As many arrival port, Supetar is first impression most visitors to the island will get. Luckily, we would say, as it is a warm and clean, typical Dalmatian sea side town. This is good welcome card for the rest of the Brac. Although most clients are searching for affordable apartments for sale on Brac, there is more to it. Brac has more permanent residents than many other island, so apartments are not only for summer use. This means they are well maintained, as people are living in them throughout the year. Islands are always harder to reach than coastal areas, and Brac is no exception. Owning a property by the sea on Brac can be a truly rewarding experience The fact that it is one of the rare islands in Croatia with the airport, emphasizes the fact that buying a property on Brac, means easy to reach investment.
Kastela property saleLegend of Miljenko and Dobrila is well known in Kastel Luksic. They were Romeo and Juliet of Kaštela, lovers whose love, even though they married, ended tragically. The Vitturi park with his classicist-style from the second part of 18th century is in the vicinity of the castle. He was founded by Radoš Micheli Vitturi. It was declared a monument of park architecture in 1968. Near Kastela there are many real estate like villas and apartments - first class property offers for Croatia. This park and only a few others like Gucetic's in Trsteno, Garanjin's in Trogir and Borelli's in u St. Filip and Jakov are the rare monuments of this kind. Not far from the Vitturi park stands the border stone pylon which marked border between domains of noblemen from Trogir and Split. Old stone house near Kastela is often real estate for sale or an apartment property near the sea in Croatia is always available at our agency.
Island Hvar 2013 property guideAs many of our foreign buyers know, property market on Hvar is very local. Gathering all information about location, future building options and such can be a daunting task. In 2013, Croatia is entering EU and this will certainly bring changes to the market. However with careful planning many obstacles can be avoided on time. Most experts in property branch agree - buying a property on coast and islands of Dalmatia will be easier from 2013. This, of course includes one of the most popular island in Mediterranean sea, Hvar. As top notch destination for yachtsmen and jet set, Hvar profiled itself in last decade as a place to go if You are looking for good restaurants, exciting night life and summer experience You won't forget Your whole life. Still, away from summer crowds, lies beautiful nature that is main attraction for buying a house, apartment or land plot on Hvar. Like in many other locations land registry books are mess on Hvar. This has turned away many interested people from buying a property on Hvar.
Makarska real estate - buy and sale in 2014Our real estate agency is based in Split, but we cover Makarska real estate market with several agents. To buy an apartment in Makarska is not easy as the prices tend to be quite high. Our real estate agents can be very helpful, knowing current trends in Makarska and surrounding places. Sale and buying of property is very dynamic in Makarska area. Though many Croatians are buying apartments and land here, most of real estate sales that our agency does in Makarska area are with buyers from European Union. This has always been more expensive location than many others in Dalmatia. Apartments close to the beach can reach prices up to 4.000€ per sq m. In 2014, prices are just as strong as before recession. Today, it is almost impossible to find seafront location real estate for sale in Makarska city. In surrounding towns like Baska Voda, Brela, Podgora, Drasnice and others seafront real estate is easier to find, but prices can be out of reach of many.
Solta 2013 property buying adviceIsland Solta became very popular property buying destination in recent years. Earlier considered lesser important island, mostly locally, today it attracts young travelers. We offer wide choice of property options for buyers and would be glad to provide friendly advise whenever possible. Most popular and probably best located, village on Solta is Maslinica. Deep Sesula bay is favorite yachtsmen destination and there are plans for building a nautical marina in this area. Buying a property will be certainly more popular than now in this area. A very naturally looking bay, Maslinica will attract everyone. Buyers beware, this is also the most expensive property destination on Solta. Several housing projects are in different planing stages on the island so, property buying options will widen in following years. Zoning is improving recently, opening several new building areas. There are some very interesting old stone houses in our internet offer. Sometimes these properties are meticulously renovated and offer a real pleasure to dwell in and enjoy in everyday life.
Advantages of buying a real estate in Split in 2013To buy a Split real estate could be Your best option this year. With entrance to European Union, it is expected that this part of Dalmatia will become even more accessible through Split International Airport. Coming form anywhere in Europe to Split Airport, You will be just 20 minutes drive from Your Croatia real estate. Several years ago, state highway was finished and main reason it was built is to connect capitol Zagreb with Dalmatia, mainly Split city. Most of property owners in Dalmatia from eastern European countries travel to Split by car, while most foreigners from further countries use airport as main entrance point. Italian and French people traveling for vacation or to stay at their new homes in Croatia, particularly Dalmatia, mainly come by ferry boats from Ancona, Italy. Boat lines are excellent connection for that part of Europe directly to Zadar and Split. Best option is to book overnight ferry as You go to sleep in Your cabin after entering a boat in the evening in Ancona and next morning You wake up in Split.
Trogir property buying tips 2013With so rich history that it is a UNESCO protected, Trogir is top destination to buy a property in Dalmatia. Procedure of buying in Trogir can be complicated sometimes due to strict regulations protecting old buildings. Still, for property owners it is one of the most desired locations on coast. There are so many great sights in Trogir that You would never get bored, although it can be quite busy in the high season. Well, everyone wants to come to Trogir and see what it is all about. For property buyers, some useful tips can same a lot of headache. Main issue is that before buying an old stone house in the historic center if Trogir, a property needs to be offered to town and municipality authorities for the same price that Contract would be written for. As these government institutions don't have money, You would be free to proceed with buying of the property in about 60 days. Still, You need their confirmation document for the Land registry that it was offered to them and they declined.
Croatia real estate