In 2011, the Croatian property market «will come to their senses»

09.02.2011 09:38
Prices for the Croatian housing decline, the volume of supply in coastal areas is growing. Demand is gradually coming to pre-crisis figures. However, given the rise of 'economic confidence in Europe, experts have tipped the Croatian real estate market in 2011, a bright future.

In coastal areas, the most popular among foreign buyers, house prices declining more rapidly than in the hinterland. If the experts had attributed this abundance of proposals, now has another reason: the foreigners who own houses, used to the fact that their home prices are falling and the slopes to reduce the value of their property in Croatia. A significant number of foreign homeowners and do prefer to sell homes. And this trend will continue in 2011.

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According to the portal Global Property Guide, is now at home in the coastal areas are well sold at a price, lags behind the peak performance by 5-10%. Apartments cost about ? 100 thousand, located near the sea, also in demand. In Split, property prices have fallen by 20% compared with the peak values.

According to official figures the average national house prices fell by 5-10%, but in reality we can speak about the fall by 20-30%. Experts Global Property Guide explains the difference between the statements (advertising) and the actual cost objects. This situation is especially evident in coastal areas of Croatia where the majority of real estate owned by foreigners, and sales are so limited that it is difficult to determine their actual number.

In addition, the existing system of price controls on real estate rather inefficient. The main source of data - tax services, that record prices are negotiable. However, the real value of sellers and buyers are often hidden.

Currently, the Croatian economy is not functioning worse than the Greek, Spanish, Portuguese and Spanish, experts believe. After the accession of Croatia into the European Union, scheduled for late 2012, the situation in the market should become more favorable.

However, some experts continue to expect improvements in macroeconomic indicators of the country. However, they are confident that in the long term decline in housing prices can be competitive advantage for the country. It seems that time has come. Projected to Global Property Guide, in the first half of 2011 fall continues. Then, with the increase in demand the cost of housing goes up.
Content tags: Overseas property
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