Croatian property market could be poised for significant boost

tony nguyen

Interest is steadily growing in the Croatian property market due to the fact that the country is on the verge of achieving full accession to the EU.

There are a number of previous cases where such a change in status has proved to be a catalyst for renewed growth in the property sector of the effected country.

Many potential investors may be playing their cards close to their chest for a while though, as nobody is quite sure whether accession to debt ridden EU will have the same affect now as it did ten years ago.

However, the potential boost is just another sign that Croatia is a country whose star is firmly on the rise.

Croatia’s currency was one of only three ‘hotspot’ European destinations (along with Iceland and Switzerland) to feature in the June-August 2011 growth top ten. According to research though, Mexico hits the holiday top spot with growth totalling 144%.

The recently published version of the ‘Fastest Growing Currencies’ report, from Post Office Travel Money, shows that Croatia has trumped its European rivals for the third year running in the race to attract UK tourists.

The Croatian Kuna is the only currency to have featured in the annual Post Office ‘Fastest Growing Currencies’ table for the past three years - this year moving up to fourth place after a 15% sales increase for June-August 2011 compared with last summer.

Transferring money to Croatia

If you are looking to invest in Croatia, think carefully about how you will be transferring money to Croatia. Foreign currency exchange rates quoted by banks are not usually the cheapest way to send money abroad.

So if you are sending money to Croatia – which you will inevitably have to do if you are looking to make a property investment - be sure to compare the market before you buy your overseas currency.

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Croatian property market could be poised for significant boost

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