Croatia awakes

  increases in the price of land. The segments that have seen biggest development so far are retail (both in warehousing as well as shopping centres) in Zagreb and other large cities, as well as Class ‘A’ and ‘B’ offices in the capital.  The growing popularity of Croatia as a holiday destination, the improved infrastructure, and the launch of new cheap flights have increased the demand for both holiday homes and hotel accommodation. The supply of such properties however lags considerably behind demand primarily due to government actions. Among these the most important were the considerable delays in the introduction of master planning in many coastal regions, as well as the decision to forbid construction close to the coastline, which forced some projects in the pipeline to redraft their development plans.– “These legal definitions however contain some loopholes, leading to investor uncertainty,”– admits Natalia Kaneva, managing partner