| Dramatic is the only superlative that can be used to | | | | of ownership. |
| describe Croatia's coast. Almost 2,000 kilometres of | | | | Winkworth has also recently opened an office in |
| shoreline, over 1,000 islands and a picture-perfect | | | | Croatia, in Dubrovnik, which Winkworth's managing |
| setting in the Adriatic are all reasons in themselves to | | | | director, Dominic Agace, calls: "A key addition to our |
| visit the country, and, if you needed another, its | | | | growing international network providing new |
| property market isn't bad either. | | | | investment and second home opportunities for our |
| Formerly part of Yugoslavia, an established destination | | | | client base. With a strong infrastructure and great |
| for British tourists, the war in the early 1990s brought | | | | settings, Croatia, and in particular Dubrovnik, will |
| tourism to a sad halt. The collapse of communism and | | | | continue to grow as a boutique destination for |
| war of national survival eventually resulted in Croatia's | | | | international travellers and with this trend the strength |
| independence and the country once again has | | | | of the property market will grow." Winkworth is |
| secured a place among Brits looking for a holiday | | | | currently selling a three-storey resale house in Orebic, |
| destination and more. With full entry to Europe | | | | Peljesac, Dubrovnik. Currently divided into apartments, |
| scheduled for 2010/11, this country is firmly back on its | | | | the property has sea views and is for sale at |
| feet and travelling around today thankfully you see little | | | | EUR880,000 (£630,000). |
| signs of the war that destroyed much of Croatia's | | | | Often dubbed 'the jewel of the Adriatic', Dubrovnik is a |
| heritage. | | | | stunning and easily explored city. With a relatively small |
| Cushman & Wakefield, an established agency | | | | population of over 30,000, it sprawls along the coastline |
| that has been operating in the UK since 1907, also has | | | | for several kilometres, but its old town is surprisingly |
| an international division and Croatia is the latest addition | | | | small and easy to explore on foot. Walking its city |
| to its portfolio. Marketing manager Victoria Doyle says: | | | | walls is one delight you can't miss, and a steady |
| "We're based in the UK but have all been out to | | | | stream of tourists pour down the city's main street, the |
| Croatia and we love it. It's very unspoilt and a real | | | | Pile Gate, also known as the Stradun, in summer |
| delight." Like many selling agents throughout the | | | | months. A good base for house-hunting, Winkworth |
| country, Doyle believes that the war, despite its heavy | | | | hopes to offer opportunities to buyers, investors and |
| toll on lives and the environment, partially protected | | | | developers throughout Croatia from Istria in the north, |
| Croatia: "Because of the war, Croatia didn't develop as | | | | down to Split and Trogir deep in the heart of Dalmatia. |
| some countries did so you don't see the mass | | | | Many buyers looking to buy property in Croatia know |
| development which mars other countries' coastlines." | | | | exactly where they want to be, says Savills' Jelena |
| So keen has the government been to protect | | | | Cvjetkovic, who calls them a 'sophisticated and well |
| Croatia's innate beauty, at one point it issued a | | | | researched' bunch. Many come from a sailing |
| moratorium on all new-build, bringing development to a | | | | background and are seeking a base from where they |
| screeching halt while a re-zoning programme was | | | | can enjoy their passion, but increasingly investors are |
| established. Some developers are still sitting on large | | | | searching out hotspots such as Split and, more |
| parcels of land but the moratorium has been lifted | | | | recently, Zagreb, where she estimates prices are rising |
| ensuring that only developments that strictly adhere to | | | | by around 15 per cent annually. "It's a not a tourist |
| the government's stringent building regulations can | | | | destination but it is underpinned by a solid domestic |
| continue. Cushman & Wakefield specialise in selling | | | | market with prices far lower than most European |
| new developments with strong investment potential. | | | | capital cities," adds Cvjetkovic, who also says that |
| Project manager Charlie Winand feels that its | | | | great value can be found on Lopud and Sipan in the |
| development Kavanjin, on the island of Brac in | | | | Elaphite Islands between Dubrovnik and the Peljesac |
| southern Dalmatia, contains all the elements to make it | | | | Peninsula. Current properties for sale in Zagreb include |
| great investment: "It's being built by an established | | | | the Gramaca apartments - 'urban villas' with one |
| developer, we've done all our due diligence and, even | | | | apartment per floor, a popular concept in Croatia in |
| with a conservative estimate, we think that prices will | | | | recent years. Designed by award-winning architect |
| rise by around ten per cent over the next 12 months." | | | | Marko Piljak, the apartments are in an upmarket area |
| Linked by ferry to better-known Split (a cosmopolitan | | | | of Zagreb and have wonderful views over Mount |
| city often compared with Barcelona or Lisbon), | | | | Sljeme, which hosts a section of the world skiing |
| Kavanjin is being marketed as 'a luxury boutique | | | | championships annually. Prices range between |
| development and an island hideaway' thanks to its | | | | EUR248,000 and EUR760,000 (£195,000 and |
| great location: A 45-minute ferry ride takes you to Split | | | | £600,000). |
| but in under half an hour you can also be on the alluring | | | | Up in the north of the country, Istria is fast becoming a |
| islands of Korcula and Vis and reach Hvar, which is | | | | rising star among property investors and this is where |
| fast gaining a reputation as a 'party island'. The first | | | | you find the country's only decent sized golf course, |
| phase has already sold out but the second phase | | | | although several more are in the planning stages. Full of |
| consists of one-, two- and three-bedroom apartments, | | | | spectacular hilltop towns and rolling valleys, this part of |
| many with sea views; the small, upscale development | | | | Croatia is often likened to its more expensive Tuscan |
| also comes with its own café and communal | | | | counterpart across the Italian border, and part of its |
| pool. With prices starting from £85,000, gross | | | | attraction is the ease with which you can slip across. |
| rental yields are predicted to be around 6.5 per cent | | | | Foodies flock here, as cuisine is also Italian-based: |
| and, with tourism set to grow, the odds look | | | | pasta and pizza is abundant, and you can enjoy the |
| favourable. "Currently there are not enough beds to go | | | | truffles for which this region is famous. Istria is Croatia's |
| round and this development already has a | | | | most developed region in terms of tourism, sadly there |
| management company in place," adds Winand. Of | | | | are pockets of ugly development on its coastline |
| particular interest to investors, buyers who form a | | | | catering to the hordes of Germans, Austrians, Italians |
| company as a vehicle through which they then buy | | | | and Slovenians who flock here, but you'll also find |
| property in Croatia, can claim a VAT rebate of 22 per | | | | smart spots such as the Italianate Rovinj on the west |
| cent of the selling price. Other incentives for buying in | | | | coast, which caters to a chic and upmarket crowd. |
| Croatia include no capital gains tax after three years | | | | |