Great Buys in Croatia's Liberalised Real Estate Market
Croatia is a land of startling natural beauty, as many Europeans have
known for decades and others are discovering now. A visit to Croatia
is a unique experience. You'll feel as though you've stepped back in time,
though the modern world is integrated into the historical feel, as well.
This is one of the best places in the world to find palaces located near
subways, cobblestone streets connecting major thoroughfares and
some incredible pristine countryside.

But if you're exploring Croatia for more than a holiday experience,
you will find some excellent real estate and properties opportunities.
From quaint little villages in Istria and Dalmatian hinterland, to the
majestic coastline, you will find old stone houses and island studio
apartments that are great buys.

Fix-up Properties in Croatia
As a part of Yugoslavia, Croatia Village tourism was one of the leading
economical aspects. Much of Croatia thrived from the tourism and it was
considered the tourist center of the country. The culture, the landscape,
and the climate were all attracting factors.

When the Yugoslav Army descended upon Dubrovnik and other parts of
Croatia, they managed to ruin or destroy numerous buildings, historical
monuments, and countless houses. Some of Croatia's best hotels
became home to refugees.

Once the war ended in 1995, the hotels were returned to their original
purposes and again became homes for tourists while they stayed in
Dubrovnik, Split, Zagreb, or any of the other major cities in Croatia.
But the country and coastline are still "littered" with old properties
that are in need of a fix-up, now available to buy. Thousands of foreign
buyers have already taken the advantage of these "fix-up" properties.

It is estimated that over 70,000 foreign citizens already own property
in Croatia, some even making their second home. While many use
their Croatia property purely for holiday purposes, some have settled
here in Croatia's countryside or on the majestic coastline. Germans,
Austrians, Britons and others use their second homes here also to
start a tourism related business - renovate their property into a private
guesthouse, open a restaurant, and even grow olives or start a wineyard.

Krka National Park

Croatian Real Estate Market Liberalised
In the past, if you are a foreign citizen, you'd have to set up a company
here in Croatia, through which you can then buy a property. The costs
weren't all that high, but the process took a year or longer, just to set up.

But on the February 1st this year, Croatian real estate market was liberalised,
in line with EU requirements, in preparation for Croatia to officially become
the 28th member of the EU. In February Croatia passed the Bill on Property,
as part of its SAA (Stabilisation and Association Agreement) with EU.
This bill grants EU citizens equal rights to purchase property in Croatia.
The new bill excludes agricultural land and protected national and
cultural property.

Non-EU citizens still need approval from the foreign and justice ministries
in order to purchase a property here. This approval is granted only to the
citizens of the countries with whom Croatia has signed the agreement of
reciprocity. This agreement has been signed with many western countries,
including the US.

Officially, in the last decade, more than 2000 Germans, 700 Austrians,
120 Hungarians and growing number of Russians and Britons have
received a permit to buy a property in Croatia. These numbers of course
exclude thousands of others who have acquired a property in Croatia,
using the above mentioned method of setting up a company.

Now that the whole process has been liberalised and improved, it's expected
that many more Europeans in particular will be taking the advantage of
Croatia's growing real estate market.

About the author
Drago Bubic is the editor of Croatia Holidays & Travel web site - www.aiptravel.com.
Here you will find a great collection of travel articles and travelogues about Croatia,
as well as plenty of useful tips and Croatia getaway ideas for travellers.