This is actually a good time to be selling overseas property in Croatia, Croatia, officially the Republic of Croatia is a country at the crossroads of Central and Southeast Europe. Its coast lies entirely on the Adriatic Sea.
Croatia is one country that has done reasonably well in recent years. The property market there has gotten out of the housing crisis of 2008 and things are way back to being normal again.
One remembers how property prices were down by 25 to 50 percent in many areas of Croatia back in 2007. But things have changed since then. Real estate prices went up by 2.3% in 2022, and the growth trend into 2023 has been maintained so far.
The Pula region experienced the fastest growth in property prices – up by 11% since last year. The city of Dubrovnik continues to be one of the most expensive places to live in Croatia, while properties in Osijek continue to be cheap.
There aren’t too many takers for properties in Rijeka, which many consider being an overpriced property market. Crozilla, Opatija and the coastal Zadar region continue to attract a lot of attention from foreign buyers.
The most popular place in Croatia to buy property continues to be the capital city of Zagreb. Apartment prices are high in Zadar, Split, Pural and Zagreb – these are the places that are getting a lot of attention from foreign buyers.
Another measure to control the market and investment is a reciprocity basis which continues to affect purchasing activity of potential buyers from China, Turkey, Japan, Korea, Emirates, Kazakhstan, and other countries.
So who is buying in Croatia?
Croatia gets a plenty of buyers from Russia, China, Scandinavia, the UK, Ireland and other European nations such as Austria, Slovenia and Germany. There is also a lot of interest from high-net-worth Swiss, Italian, Polish and Czech buyers in properties in Croatia.
If you are selling property in Croatia, these are the buyers you should focus on. They are likely to give you the best possible price for your property for sale in the country. Swiss and Austrian buyers, in particular, are hugely interested in high-end properties or luxury properties such as villas and cottages and apartments.
The Croatian Diaspora
Croatia has a large diaspora settled in Australia, the UK and the United States. Many of them have done well in their adopted countries and become naturalized Australian, British and American citizens.
They immigrated to these countries in search of better economic opportunities. Now that they are reasonably wealthy, they want to have a foothold in their home country.
That’s why we see a number of Australians, Americans and Brits of Croatian origin who are buying property in Croatia.
Croatia as an Overseas Property Hotspot
Croatia is a very beautiful country, but not a lot of people really know about it. The Croatian coastline, for example, is just as spectacular as that in Majorca, Spain.
As more and more foreign tourists visit Croatia and find out what it has to offer, we expect the property market here to shoot up. This is good news for those interested in selling overseas property in Croatia.