News Feature
Croatian property 'a long-term market'
16 January 2008
Croatia's property market is unlikely to suffer a "boom and bust cycle" like that experienced by some areas of Spain and Bulgaria.
That is the conclusion of real estate specialists Croatiansun.com, who have pointed out that the regulations of property building on the country's coast will help avoid such a scenario.
Paul Keppler, managing director of the investment information service's website, said a large proportion of investors are drawn to Croatia as it is a "long-term market rather than a short-term one".
He explained that in 2004, the country's representatives sent a delegation to Spain to look at the effects of residential tourism there.
"What they came back with is that from an economic view it's good, but from an environmental point of view there's a high cost to it."
As a consequence of this, a review of all urban plans along Croatia's coast was implemented, freezing the issuing of building licences while a decision was made on how to protect it.
Construction of Croatian villas or houses is now limited to those which are a maximum of three floors in height and situated beyond 100 metres of the coastline.
Category: Tourism News/trends
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