International Real Estate: Croatian paradise?

Today's Financial News - Posted May 20, 2008

“Today, the options for new construction have multiplied, and buying pre-construction is again an option for investing on the coast of Croatia.” — Lief Simon

by Lief Simon

Baltimore — (TFN): 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.

International Real Estate: Tourism rentals

Most of the new construction along the coast is geared toward short-term vacation rentals—the tourist market. The units are small one- and two-bedroom apartments close to the ocean. Larger developments may include a rental management program in their services. Smaller projects ranging from a few apartments to a couple dozen apartments likely won’t offer built-in management services, but many real estate agencies offer short-term rental and property management. Read on to learn more.

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