Ask property buyers to name the most popular areas in Croatia, and most likely you will hear in response - Istria and Dalmatia. Many traditionally prefer to relax and buy housing in the famous city of Dubrovnik, as well as on the islands of Korcula, Hvar and Brac. But do not forget about that part of the coast of Croatia, which is located between the cities of Split and Zadar – Middle Dalmatia. The local resorts are not in great demand yet, but it's only a matter of time.
This region impresses first of all with its natural resources. It is to Middle Dalmatia that the famous Krka Nature Park, located between the cities of Knin and Sibenik, as well as the Kornati Archipelago, considered a national treasure, belong. Inspired by the extraordinary beauty of these islands, Bernard Shaw once wrote: "On the last day of the creation of the world, God wished to crown his work, and created the islands of Cornata from tears, stars and breath." Due to its convenient location and magnificent unspoilt nature, this region has become a favorite destination for fans of yachting.
Housing prices in Central Dalmatia are lower than in the rest of the Croatian regions, but as the region becomes more and more in demand, they are growing. For example, in Split, one of the most famous cities in the region, the cost of 1 sq. m. m is about 1400 euros - this is twice less than in Dubrovnik and its surroundings.
Today, the city of Trogir is very popular, the historical part of which is included in the UNESCO World Heritage List. Trogir is often called "little Dubrovnik" due to its rich history and exquisite architecture, in which the Romanesque style is organically combined with Renaissance and Baroque elements.
Old Trogir is located on a small island, which is located between the mainland and the large island of Ciovo. The company A Place in Dalmatia has put up for sale several luxury properties here, in particular an old estate with a watermill for 600,000 euros, which in the future may rise in price to 3 million euros.
The Croatian Sun company offers a rich selection of new buildings and historical buildings in Central Dalmatia. Among them is a house in the town of Zaborichi near the town of Sibenik, the cost of which is 500,000 euros. For the same price, you can buy a villa in the characteristic Dalmatian style on the island of Pasman. To date, this resort is mainly interested in buyers from Zagreb, but, from the point of view of Paul Keppler from the Croatian Sun company, investors from abroad will soon join them.
Traditional directions
Despite the growing popularity of Central Dalmatia, the traditional tourist areas of the country do not give up their positions. The highest increase in the cost of housing in the last few years has been noted in Southern Dalmatia, where the most popular city is still Dubrovnik, called the "pearl of the Adriatic". Over the past four years, the average cost of real estate here has increased by about 200%, so prices in the Old Town are now at quite a European level.
For example, Croatia Life sells apartments with an area of 83 sq. m for 450,000 euros. m in the center of the Old Town, located in an old building that used to be a monastery. They can be divided and bought in parts, in which case the cost of each part will be 280 000 euros. But, despite the high prices for Croatia, Dubrovnik remains very attractive for tourists, and if so, well-located facilities with developed infrastructure will be a profitable investment if their further rental is planned.
The Istrian peninsula, bordering Slovenia in the north, has not suffered so much from the effects of the war in the Balkans, thanks to which 3-4 years ago housing prices here were higher than in more southern areas. Now the price level in Istria roughly corresponds to Southern Dalmatia, but there are still inexpensive, but old buildings in need of repair. For example, a village house with an area of about 100 sq. m. m can be bought for only 40,000 euros, although you need to take into account the significant costs of reconstruction.
The highlight of the islands
Speaking of Croatia, it is impossible not to mention its famous islands and archipelagos, which give it a special flavor. In total, there are more than 1,000 islands in the country, most of which are uninhabited. They are especially popular among lovers of recreation "in the style of Robinson Crusoe", when tourists are provided with minimal connection with civilization.
Housing prices on the most exclusive of these islands - Hvar range from 600,000 euros for an apartment of 100 sq. m. But in the southern part of the island of Brac, you can buy one-bedroom apartments, recently built in the popular resort of Bol, for less than 90,000 euros. The advantage of this island is a regular ferry service to the mainland.
There is also a unique opportunity for Europe to buy a small island in private ownership – a separate article in this issue of the magazine is devoted to it.
Transport is ok
Croatia is a country that is very convenient for Russians in terms of transport. In the period from October to April, Aeroflot operates direct flights to the capital of Croatia, Zagreb, three times a week. There are charter flights to Split Airport from Moscow on Saturdays from the end of April to the end of September. Sometimes a flight on Wednesdays is added to them.
Despite the absence of regular flights, charter flights are carried out from Moscow to Dubrovnik during the holiday season. For those for whom it is important to have the opportunity to visit Croatia all year round, in some cases it would be more expedient to fly to Croatia via Montenegro, since S7 operates a regular Moscow – Podgorica flight every Saturday. Of course, year-round you can also use connecting flights at one of the airports in Central Europe.
Croatia is a small country, within which transport links are established quite well. For example, if you wish, you can use the flights of local airlines "Zagreb – Split", although for some regions the best option would be to rent a car. Now the expressway from Zagreb to Istria via Rijeka has almost been laid. In Istria itself, from any locality, you can get to the most remote part of the peninsula in just an hour and a half. It is also now planned to build an autobahn along the coast of Croatia, which will connect Zagreb and Dubrovnik.
There are no problems
Unfortunately, with all the advantages of buying a home in Croatia, it should be noted that investors may have some problems. According to Naomi Greatbanks from Savills, "in Croatia, as well as in many other countries, an entire family can own apartments in old buildings, and if at least one of its representatives does not give their permission to sell, the purchase process may stall."
But those who purchase housing in newly built houses are also not immune from unforeseen difficulties. So, at the beginning of this year, a new government decree was adopted, according to which the coastline of the mainland of Croatia and its islands is declared public property, designed for use for tourist and recreational purposes, and construction is allowed to be carried out in specially designated areas. In addition, local governments control the height of buildings and the preservation of architectural appearance both in the city and in rural areas.
On the one hand, this measure entails certain difficulties for the buyer. So, from the point of view of Amar Sodi from Avatar International, buyers with a significant budget will be disappointed by a sharp reduction in the number of offers. But at the same time, as Richard Edds of Leisure and Land notes, clarifying the previously confusing situation will have a positive impact on the development of the Croatian market. The number of modern high-quality projects that will be available to customers already at the design stage should increase.
It is important for foreign investors to remember that an individual buying real estate in Croatia must obtain a state permit to purchase, which can take up to two to three years. Usually this is a formality, in which there are even advantages: the purchase tax is not charged until permission is received, even if the purchase is completed in general. The disadvantage of such a system is that a construction permit is issued only after obtaining a state purchase license, that is, this option is not suitable for those who are going to reconstruct an old building. In any case, a clause must be entered into the contract of sale, according to which, in case of refusal to issue a license, the buyer will be able to return the money spent.
However, there is an alternative to avoid obtaining a permit - to organize a Croatian company and purchase housing through it. In this case, you will not have to wait for the permission of the authorities to purchase, besides, the legal basis for further rental of housing will be laid. Read more about this opportunity in the article on the legal aspects of buying a home in the Balkans.
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