Buying Pre-construction in Croatia
Date: 05/16/2008Saturday, May 17, 2008
Read more about investing in overseas real estate in International Living Postcards —Saturday Edition
The Croatian real estate market has matured over the last few years. Prices appreciated rapidly as Europeans came in and bought coastal properties and farmhouses to renovate. The expectation was that there would also be new construction, but new development was stalled for several years as the government revamped its planning approval process. While the government was fine-tuning the rules, the only new homes available were small apartment buildings that were outside of the planning requirements.
Today, the options for new construction have multiplied, and buying pre-construction is again an option for investing on the coast of Croatia. While you can buy with the idea of flipping before closing, it probably makes more sense to hold onto your apartment and rent it out.
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