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21-August-2008
Award-winning Property Investment Ticks All the Boxes
Overseas property investment specialist, Obelisk, has a passion for excellence and the company’s determination to offer superior standards and high professionalism at all stages of property investment has reaped its rewards.
Interview with James Gonzalez
Property Investment in Croatia 2008
With confidence that the country will become an EU member by 2009, a thriving tourist industry and an economy that boasts low inflation and steady growth, now is an exciting time for property investment in Croatia. Experts such as Chris Kalin of Zurich based international property consultants Henley & Partners, are expecting "average rises in Croatian real estate prices of 100% to 150% over the next three to five years."
Croatia is perfectly placed for tourism, with over 600 million people within three hours flying distance. Add to this, new low-cost flights to coastal resorts from the likes of FlyBe and Thomsonfly, visiting the country has now become affordable as well as convenient, and property prices will inevitably rise to meet the growing demand.
"Croatia is perfectly placed for tourism, with over 600 million people within three hours flying distance."
Coastal areas offer particularly attractive propositions for investors. The Guardian reports that property prices have increased around 20% a year from Croatia's Mediterranean coast over the past five years; yet compared to many parts of Mediterranean Europe property prices remain relatively attractive.
When factors including average house price, average number of weeks the property is likely to be rented, and average rent per week are taken into account, Croatia is a strong destination to make a profit from rental yields. Investors can expect average net rental yields of 5.8 per cent per annum in real terms from a Croatian property, compared to just 2.4 per cent in real terms in Spain. Knight Frank's International Residential Review states that for properties on the Black Sea coast, the average rental yield is between 5 to 7 percent. Croatia also offers impressive capital growth: with prices rising nationally by 30.7 per cent between 2002 and 2006.
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