Monday, April 05, 2004

Real estate in Croatia


This weekend there was an interesting article in Croatian newspapers "Jutarnji list" (means something like "Morning paper"), that says that prices of real estate in Croatia has reach its maximum, and begins slowly to fall down.

I think that this is good news, because some prices has gone beyond the limit. Yesterday my business partner went to ask for one Business premise in Fazana (small place opposite to Brijuni archipelago): they asked 4000 EUR/m2!! Incredible if you think that medium salary in Croatia is 500 EUR: Fazana is nice, but it is not realy a San Marco square in Venice.

So, because prices has begin to fall, some of the foreign citizens(in major part German) that have acquired real estate during mid ’90(like good brokers), are selling now that same property for 10 time bigger price! Incredible, isn’t it. there is an example that person acquired a property for 70.000 DM(about 35.000 EUR), and now selling the same one for 350.000 EUR. This is 10 times…

So this is what it happens when people are poor. Other can buy all you possess for small money, and then sell it for much more, even back to you. The politicians Should think a bit, how they are guiding people, and which interests are they sustaining. People’s interest or own, or somebody else interests. The things could be done better for shure.

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