News Feature

Croatian property market 'to change drastically'

03 February 2009

Overseas property buyers are expected to flood the Croatian market following a change in legislation, one expert has claimed.

From this month, European Union (EU) citizens will be able to purchase housing in the Balkans country without much of the bureaucracy they previously faced.

Dan Johnson, managing director of themovechannel.com, believes that the change is an important prerequisite to Croatia's proposed entry into the EU.

He commented: "These new changes look to drastically alter the second home and investment market in the country.

"Those seeking a holiday home are drawn mainly to the coast, for the stunning views and strong rental potential."

While prices could rise, he added, the cost of living in Croatia is expected to remain affordable and the quality of life high.

According to statistics from themovechannel.com, prior to the new legislation less than 50 per cent of overseas purchase applications from non-Croatians were granted.

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