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There is something for everyone in Croatia, which is becoming increasingly popular with European investors, luxury home buyers and visitors.

Reasons abound: 1,170 miles of sparkling Adriatic coastline with more than 1,200 islands; a real estate market accessible to foreigners; and a good reputation for safety.

Luxurious luxury yachts – with helipads, whirlpool tubs and personal chefs – dot its world-class marinas. Sun-seeking adventurers cruise the Adriatic in 100-foot yachts. Young couples sipping the local wine and dining on some of Europe’s best seafood in trendy restaurants on cobblestone streets.

And, of course, on every street corner you are greeted by magnificent views of land, sea and architecturally significant cityscapes.

Croatia is rich rich historical heritage

At the turn of the 4th century Emperor Diocletian built a sprawling palace in the Roman province of Illyria. Today the province is part of the southernmost region of Croatia.

The seven-acre complex, built with limestone, graphite and marble, took 10 years to build and now forms the heart of Split, Croatia’s second largest city. It was designated a UNESCO World Heritage site in 1979. Following Diocletian, the city was ruled at various times by the republic of Venice, Hungary-Croatia, Austria and Yugoslavia, until it became part of independent Croatia in 1992.

The country’s rich historical heritage is evident further south in Dubrovnik, a thriving port city founded around 614 by Roman refugees. It is also a UNESCO site, with the massive walls that surround the city, the 15th century Rector’s Palace and the Cathedral of the Assumption reminding us of the city’s complex past.

The colorful tapestry of Croatia’s history is woven into its architecture and lifestyle, says Forbes Global Properties director Marcus Benussi. In the north, it is common to find residents with Italian surnames speaking Italian. Along the coast, you will find architecture influenced by the urban avant-garde trends and European construction of the early 1930s. Meanwhile, the culinary scene is full of European and Mediterranean flavours.

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Explore the Istrian Peninsula and the Dalmatian Coast

The Istrian Peninsula juts into the northern Adriatic and is home to Pula, a quaint coastal city, and the seaside port of Rovinj.

Pula is the largest city in the region and is home to the best-preserved Roman amphitheater in Europe, complete with intact towers and curved walls. Brijuni National Park and its 14 untouched islands lie north of Pula and are reached by boat.

In Rovinj, strong Italian influences and Old World appeal are evident. Access to its old town is limited to pedestrians and bicycles, and five-star hotels and luxury shopping abound. The town is lined with narrow cobblestone streets.

Strict regulations and a tight supply of land border investment opportunities in Rovinj. “In the Istrian region, it is almost impossible to find land to build on,” said Benussi. “This is what makes the market attractive. Everyone wants to come in, but very few manage to buy.”

Securing land on the first or second row of the seafront is a challenge, but Rovinj and its surroundings offer lucrative opportunities.

Benussi notes that there is growing interest among foreign buyers in properties with small-scale farms or vineyards. Wine tourism is a major boost to the Istrian region, attracting well-heeled individuals keen to get a taste of the local area. Malvasia and merlot.

The Dalmatian Coast currently holds the attention of most investors. Croatia’s southernmost region begins in the city of Zadar and stretches south to Dubrovnik, the “Pearl of the Adriatic Sea.” It also includes the islands of Hvar and Brac, the playgrounds of the rich and famous.

This narrow stretch along the Adriatic Sea features cliff-side mansions, charming old stone houses and magnificent villas with panoramic views. Real estate prices in this remarkable region are constantly growing, with local and international buyers hoping to own a piece of land in the thriving coastal region.

Pretty properties on the coast are rare, and anything that comes on the market is snapped up in “days,” Benussi said.

For US $1 million, you can “live like a king,” he adds.

Lives in Croatia

The shimmering blue water of the Adriatic Sea offers more than breathtaking views. With currents that flow upstream, the water is much warmer and saltier than it is along the Italian coast, on the other side of the Adriatic, Benussi said.

Croatia’s unique cuisine combines influences from neighboring countries and showcases local seafood, black balls and rich stews. Its locally produced olive oil, cheeses and wine are among the best in Europe.

Much of Croatia’s economic activity is related to tourism. An estimated 50 million tourists are expected in 2024, with forecasts estimating almost 60 million tourists in 2029. That is mainly because in 2023 Croatia joined the euro area and the Schengen Area, which means that it has adopting the euro and allowing many Europeans to enter the country without the need for border checks, respectively.

It also means that citizens of the European Union can buy real estate just as Croatian nationals do. For those living outside the EU, buying real estate in Croatia is possible if two conditions are met: a reciprocity agreement with the republic of Croatia and the consent of the Ministry of Justice.

Many Croatians feared that the official introduction of the euro would reduce their purchasing power and lead to an increase in the cost of living. The country has been grappling with an inflation rate of up to 5%, with expectations of a slowdown in price increases this year.

Benussi notes that the effects of the currency conversion are becoming apparent. There has been an increase in European interest in Croatian real estate, which has led to rising prices in the short term.

Data from the Croatian Bureau of Statistics reveal that GDP grew by 2.8% in 2023 and 4.3% in the fourth quarter, exceeding analysts’ initial expectations. The latest increase marks the 12th consecutive quarter of growth in GDP.

“Very soon Croatia will become a strong economic power,” said Benussi.

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