Istria, Croatia: the Feel of Tuscany at a Fraction of the Price
Affordable prices and a foreigner-friendly attitude are attracting investors and holiday-home buyers alike to Istria in Northern Croatia.
After years of the southern coast of Croatia seeing the most interest from foreign property purchasers, the last five years has seen the attention shift to the peninsula of Istria in the North. This is due to prices in the southern strip of the country growing while supply of holiday homes fell.
Holiday home purchasers are finding not only an increase in the choice of affordable properties in Istria, but also a welcoming attitude to foreign purchasers. Reports are that the climate and scenery are attracting those used to holidaying in Tuscany. The region may be reminiscent of the Italian hotspot, but properties there can be purchased at significantly lower prices. Prices in Istria also compare well with other parts of Croatia: upper-end homes can be purchased for around €1,500 per sq. m., whereas in Dubrovnik it is very hard to find anything for less than €3,000 per sq. m.
Other factors adding to Istria’s popularity is its accessibility (it was the first area in Croatia to be served by budget airlines) and its relatively simple purchase process in comparison to some other parts of Croatia.
Most foreigners purchasing in Istria, and indeed anywhere in Croatia, are doing so with the expectation that the country will join the European Union in 2009, causing a dramatic uplift in property values. The market witnessed this in the Czech Republic in 2004, just as is happening in Bulgaria since its entry this year.
Source: http://www.iht.com/articles/2007/05/03/properties/recroatia.php
After years of the southern coast of Croatia seeing the most interest from foreign property purchasers, the last five years has seen the attention shift to the peninsula of Istria in the North. This is due to prices in the southern strip of the country growing while supply of holiday homes fell.
Holiday home purchasers are finding not only an increase in the choice of affordable properties in Istria, but also a welcoming attitude to foreign purchasers. Reports are that the climate and scenery are attracting those used to holidaying in Tuscany. The region may be reminiscent of the Italian hotspot, but properties there can be purchased at significantly lower prices. Prices in Istria also compare well with other parts of Croatia: upper-end homes can be purchased for around €1,500 per sq. m., whereas in Dubrovnik it is very hard to find anything for less than €3,000 per sq. m.
Other factors adding to Istria’s popularity is its accessibility (it was the first area in Croatia to be served by budget airlines) and its relatively simple purchase process in comparison to some other parts of Croatia.
Most foreigners purchasing in Istria, and indeed anywhere in Croatia, are doing so with the expectation that the country will join the European Union in 2009, causing a dramatic uplift in property values. The market witnessed this in the Czech Republic in 2004, just as is happening in Bulgaria since its entry this year.
Source: http://www.iht.com/articles/2007/05/03/properties/recroatia.php
posted by Obelisk International at 12:23 pm
0 Comments:
Post a Comment
<< Home