Real Estate Sales to Foreigners in Croatia: Statistics from the Last Seven Years
In recent years, Croatia has become an attractive destination for real estate investors, especially foreigners looking for a second home or investment opportunities. This trend is supported by the beautiful coastline, pleasant climate, and relatively lower property prices compared to other European countries.Development of Real Estate Sales to Foreigners (2017-2023)
According to available statistics from the Croatian Bureau of Statistics (DZS) and the Croatian Real Estate Institute (Hrvatski zavod za nekretnine), we can observe the following development in real estate sales to foreigners over the past seven years:1. 2017: In 2017, approximately 2,500 properties were sold to foreigners. This year was considered relatively stable, with a slight increase in interest in the Croatian real estate market.
2. 2018: In 2018, the number of properties sold increased to 3,200, representing a year-on-year increase of 28%. This growth was supported by positive economic developments in Croatia and increased interest from foreign investors.
3. 2019: This year saw another increase, with 3,800 properties sold to foreigners. The increased interest was supported by the growing popularity of Croatia as a tourist destination.
4. 2020: The year 2020 was affected by the COVID-19 pandemic, leading to a decline in sales to 3,000 properties. Travel restrictions and economic uncertainty had a significant impact on the real estate market.
5. 2021: With the easing of restrictions and the return of tourists to Croatia, the number of properties sold increased again to 3,500. The increased demand was especially driven by interest in coastal properties.
6. 2022: The year 2022 saw significant growth with 4,200 properties sold to foreigners. This growth was supported by a stable economic environment and improved mortgage availability for foreigners.
7. 2023: Preliminary data for the year 2023 indicate further growth, with expected sales of approximately 4,500 properties. This trend indicates continued foreign interest in the Croatian real estate market.
Sales Comparison
Comparing individual years, we can see that sales of properties to foreigners in Croatia have experienced significant fluctuations over the past seven years. The largest decline was recorded in 2020, caused by the global pandemic. On the other hand, the most significant growth was recorded in 2022 and 2023, reflecting market recovery and increased investor interest.Factors Influencing the Market
The main factors influencing the sale of properties to foreigners include:- Economic Stability: A stable economic environment in Croatia supports investor interest.
- Tourist Attraction: Croatia is an increasingly popular destination for tourists, which increases the attractiveness of properties for short-term rentals.
- Property Prices: Relatively lower prices compared to other European destinations make Croatia attractive to foreign buyers.
- Legislation: A legal framework that allows foreigners to easily purchase properties.
The sale of properties to foreigners in Croatia has seen significant growth over the past seven years, with the exception of 2020, which was affected by the pandemic. The trend suggests that foreign interest in the Croatian real estate market will continue to grow, supported by positive economic conditions and Croatia's attractiveness as a destination for second homes and investments. For more precise data and a more detailed analysis, it would be advisable to consult official statistics and reports from relevant real estate and economic institutions.
*Publicly available statistics were used for the purposes of this article.
