Real Estate Market in Croatia

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00:00 Intro
01:30 The Estate of Croatian Property Market (prices)
02:05 Zagreb, Adriatic Coast, and everywhere else (Slavonia, Zagreb surroundings)
03:25 Rental yields and Growth
05:13 Residence Permit by Property Purchase
07:43 Best Websites to Find Property in Croatia
11:20 Other Considerations (Financing, Bureaucracy)
12:41 Verdict

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The Estate of Croatian Property Market

Price (Adriatic Coast, Zagreb, Everywhere else)

-In Croatia there are basically 3 important property price differences:
-Prices on the Adriatic Coast, in Zagreb, and in the rest of the country (Slavonia, etc).
-Prices on the coast are by far the highest in the country. Notably in the cities of Split and Dubrovnik they are extremely high. Square meter prices in Split hover around 3 to 4 thousand euros, and in Dubrovnik at around 7000 euros. At the very heart of the old town in both cities, it can go even higher.
-In the capital Zagreb prices are lower than on the seaside. Croatia is one of the only countries in Europe where the capital is not the location of the most expensive property prices.

Rental yield and Growth

-Rental yields in Croatia are relatively interesting for Central European terms.
-In Zagreb, the city with the highest demand year round, they will be at around 4% to 5% per year.
-At the seaside yields are higher, but occupancy is highly seasonal. While in summer you can earn a lot of money, in winter it is pretty quiet.
-Many locals who own property at the seaside live off rentals during summer, and do not work in any other type of activity.
-Liquidity in Zagreb and on the coast is pretty good, and you won’t find a lot of trouble to sell your property in most cases.

Residence Permit by Property Purchase

-It is possible to get a residence permit if you own real estate in Croatia, but it has a number of restrictions.
-If you own real estate in Croatia and you are not an EU citizen, you can’t stay year round in Croatia. The maximum amount of months you can stay per year in your property using the ownership as grounds to stay is 9 months per year.
-Owning real estate in Croatia also doesn’t lead to permanent residency and to citizenship, so this is certainly a disadvantage of the Croatian real estate market compared to other countries in the Balkans.
-In neighboring countries like Montenegro, Bosnia and Herzegovina and Serbia you can get a full year, renewable temporary residence permit by owning real estate, a huge advantage compared to Croatia. In these countries, the ownership of real estate coupled with living a number of years in the country can lead to permanent residence and citizenship.
-If you are an EU citizen there will be no problems in that sense though, you can enjoy your real estate in Croatia year round, and register your stay in the country indefinitely (even if you don’t own real estate, just rent it anyway).

Best Websites to Find Property in Croatia

-Njuskalo.hr
-Index.hr

Other considerations (Financing, Bureaucracy, Airbnb investment)

-In Croatia it is nearly impossible to get financing if you are not a resident of the country. Unlike other countries like Spain, Portugal and even Serbia, getting financing is quite difficult.
-In most cases you must be a resident of Croatia to get a mortgage, and ideally, your income also has to be from Croatia (but that is a lesser problem).
-Other important thing you should consider when buying a real estate in Croatia is checking the paperwork of the property. It is not uncommon that a property has several owners and some of them even abroad. Make sure the status and ownership of the property you are interested in is up to date.
-Croatia is a great place if you want to invest in an Airbnb property. The country is heavily reliant on tourism, and getting a license to operate daily rentals is easy in any part of the country.

Verdict

-A great place if you want to live in a prime location in Europe, with relatively affordable prices if you stay away from the coast.
-Croatia is also a good option if you want to invest in an Airbnb property or start a hostel or a hotel. This applies to the seaside and also to the capital Zagreb.
-It is not a great place to get a residence permit if you are a non-EU citizen. As a matter of fact Croatia is one of the hardest places to acquire residence in Central Europe.