Croatian Properties for Sale

July 6, 2004 11:00 AM

Croatian Properties for Sale
Charming little places for charming big prices. I've never been to Croatia, but I wouldn't have guessed that a 1,600 sq. foot apartment would go for $650,000... Is all of eastern Europe so expensive?
posted by Irontom (14 comments total)

Bucharest's prices are nearly as high in certain areas, despite Romania's average monthly salary being around 100 Euros. Of course, if you want a rural lot that's nowhere near a major city, you'll be paying considerably less.

It's all about supply and demand.
posted by Slothrup at 11:24 AM on July 6, 2004

Well, no I rather suspect it isn't. There are different factors that impact on price (just like elsewhere) and indeed there are lots of places on the website that are cheaper, but as you converted both price and area into units not used in the website and you didn't link to a specific property its difficult to know what you're talking about. Shall we assume its somewhere quite nice? Shall we, for example, assume its in Dubrovnik, the 'Pearl of the Adriatic' a UNESCO world heritage site and featuring at 66 on yesterday's wonders of the world website? Do you think that might push the price up?
posted by biffa at 11:25 AM on July 6, 2004

Sofia is surprisingly expensive as well.

...which, as Slothrup & biffa both point out, isn't really surprising at all.
posted by aramaic at 11:30 AM on July 6, 2004

I translated the units because Euros and square meters don't mean anything to me. The property in question is in Dubrovnik. However, I am not very well traveled, and had no idea that it was considered so desirable.
posted by Irontom at 11:49 AM on July 6, 2004

Do you think that might push the price up?

If the supply is low and the demand is (reasonably) high, yes. So it is all about supply and demand. 4 out of 5 Economics professors agree.
posted by yerfatma at 11:54 AM on July 6, 2004

A while back (ok, in March) Kk.org posted a link to property for sale in Bulgaria for as low as $1000 (though most were in the 10k range and lacked a lot of ModCons, of course).
posted by shoepal at 12:29 PM on July 6, 2004

Dubrovnik is a coastal resort city. You're going to have a lot of rich Europeans buying up vacation homes there.
posted by deanc at 12:42 PM on July 6, 2004

Are you sure the $650k is not for an entire village? (5th paragraph)
posted by stbalbach at 12:49 PM on July 6, 2004

'Normal' apartments in Bucharest do not go over 25.000€ (2 rooms), 35.000€ (3 rooms).

My 4 rooms apartment, heavily modified, would go for about 80.000€. It's around 100 sq. meters (1 076 sq. foot).

So, I'd say there's something special about that apartment in the front post.

/on preview - if indeed it's only an apartment.
posted by Masi at 12:54 PM on July 6, 2004

Is all of eastern Europe so expensive?

I'm sorry to say it but I recommend more travelling and less posting.
posted by gravelshoes at 1:48 PM on July 6, 2004

First off, the Croatian coast is a big draw for Italian and German vacationers each summer. Check these prices against the cost of a vacation home across the Adriatic in Italy for a comparison.

Another factor is the high price of property in Western Europe. The last two years have seen a flood of Irish buying property in Budapest through local agents - Hungarian and Irish - who specialize in the Irish customers. In Budapest, especially, prices are insane because of the fact that Budapest is really the only serious urban entity in the country. Of course, a foreigner wants something nice and central for his money, while we locals don't seem to mind paying less for a shabby looking exterior or a small commute.
posted by zaelic at 2:50 PM on July 6, 2004

The town in question is the equivalent of Aspen, or something.
posted by delmoi at 12:15 AM on July 7, 2004

As an aside I think its entirely likely that good locations across the 10 new EU member states are likely to see a price boom in the next few years. Malta is set to be the likely favourite from the UK.
posted by biffa at 2:04 AM on July 7, 2004

Though these prices are slightly inflated for foreign investment, Dubrovnik is a very scenic part of Croatia and is located on the Dalmation coast, one of the most beautiful areas in Europe. The place to be for the jetset and movie stars of the fifties, Dubrovnik and the Dalmation coast is enjoying a revitalization after the civil war that ended in the 90's.

I've seen it since it has been rebuilt after the shelling, and can understand why some of these homes command a more premium price.
posted by jazzkat11 at 12:09 PM on July 7, 2004