News Feature
Potential for luxury property development in Croatia
07 December 2007
Croatia is one of eastern Europe's most significant emerging property markets and there is a real shortage of luxury accommodation in Croatia, reports hospitality and travel news magazine 4Hoteliers.
Property along the beautiful Adriatic coast, which is described as a hotspot, has enjoyed 25 per cent sale price growth for apartments in 2005 and 20 per cent growth for villas.
Local agents told 4Hoteliers that there is a shortage of luxury accommodation in Croatia. Two or three bedroom apartments and quality four bedroom villas are in great demand.
They also noted that a premium is paid for property near a golf course or marina or beside the water, especially resort developments such as those in Punta Scala or Savudrija (Kempinski).
Prices for residential real estate accommodation in Croatia are up to 65 per cent lower than western European countries and while rental yields are estimated at three per cent, which is similar to most other countries, according to a report issued by Knight Frank.
Western Europeans from Germany, the United Kingdom, Italy, Austria and France are the most common investors in Croatian property.
Category: Tourism News/trends
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