Croatia Property Could See Surge in Sales as EU Talks Complete

For those that do not know, Croatia and the European Union completed and concluded the negotiations on Croatia’s accession yesterday (June 30). The way is now paved for Croatia to enter the union in July 2013. While this does not guarantee that Croatia will become the 28th EU member, those who feel that they can make an educated guess as to the likelihood that accession will go ahead, will likely be looking to buy Croatia property at their earliest convenience.

The closing of negotiations was announced at the 13th ministerial level EU-Croatia accession conference by Hungarian foreign minister János Martonyi, who called it a “day of historic significance” not only for Croatia but for the European Union as well. He told reporters that the remaining 4 chapters of negotiation had been officially concluded, and that the completion of these very complex chapters meant that Croatia had managed to deliver a wide range of performance benchmarks.

Now Croatia and the EU will sign the accession treaty, which will need to be approved by all 27 EU members, as well as the Croatian people by way of a referendum. If all that goes as planned Croatia will become the 28th member of the European Union on July 1st 2013, the cut-off date for the EU and Croatia to ratify the accession treaty.

Those who believe that the Croatian people will vote yes in this referendum, and that Croatia will not fall at any of the remaining hurdles, will likely be looking at investing in Croatia property. We know that EU accession has a tendency to bring rapid escalation in property values, and Croatian property values are currently at a very low level.