News Feature

Croatian housing market could be boosted

09 May 2008

Property prices will be boosted in Croatia if the country joins the European Union as expected, it has been claimed.

Rhiannon Davies, director of overseas property buyer website Amberlamb, warned short-term profit may not be possible, however.

This is because property prices have been rising dramatically and it is suggested perhaps unsustainably.

Ms Davies said this trend is worth considering for potential overseas buyers.

She explained: "You are unlikely to be able to make a fast buck by turning real estate around and flipping it back on to the market in Croatia given the current economic climate.

"That said, Croatia is still downgraded because of its pre-EU status meaning it could witness a strong upward price swing in the medium term again."

Around 11 million tourists visited the country between January and November last year, an eight per cent rise on the previous year, according to the Croatian tourist board.

German travellers made up the most visitors, with over 1.5 million visiting during the ten month period.

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