Croatia property market through Croatia's economy
If you are buying property in Croatia or property in Istria you would like to see more about the whole country, including its economy. Croatia is economically sound and EU accession is set for 2008.The economy is a mixed one, with 30 per cent attributable to industry, 7.9 per cent to agriculture and 62.1 per cent to services, including tourism. The growth in GDP is 4.3 per cent per annum. The currency, the kuna, was formerly pegged to the deutschmark and now shadows the euro. It has been stable for several years.
Croatia is on track to join the European Union and its foreign and economic policies are all tailored to achieving this as smoothly as possible. Many people are investing in property here now, fully expecting the same rises in property values that were seen in other EU candidate states immediately prior to their accession.
There seems to be little reason to doubt that this will occur. In Slovenia, which is already an EU member, but which was also formerly part of Yugoslavia, rises of 40 per cent were seen in the two years immediately prior to accession.
Of all the former Yugoslavian states, Croatia and Slovenia were always the most prosperous, with per capita outputs that were around a third higher than the rest of the country. Slovenia was barely touched by the war and carried on regardless, but Croatia had to fight hard to defend itself, and the high cost of having to support tens of thousands of refugees held it back from developing at the same speed as its neighbors.
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