SECOND HOME REAL ESTATE MARKET IN CROATIA IN THE PANDEMIC TIME
The logical conclusion, given the situation of the global pandemic we are in, would be that the real estate market in Croatia is stagnating to say the least.
However, the actual data on the purchase of real estate in Croatia tells a different story. The pandemic has led many to reconsider their way of life, reversing global housing markets as well.
Prices have risen, coastal Croatia has seen high demand for real estate, while demand has fallen in many major continental cities. Interest in second home real estate has increased more than ever.
Second home property is in other words a holiday property, detached or in a resort, which the owners use at certain times throughout the year.
The perception is that if you have a second home, you have to be rich. But it turned out not to be necessary.
Low interest rates on home loans and savings from the pandemic era have made it possible for people, not just the ultra-rich, to afford second home real estate.
The coronavirus pandemic has caused a boom in communities traditionally crowded with second home real estate. Such real estate was associated exclusively with summer vacations, but the increase in jobs with home offices has made it possible to use these facilities for longer periods.
As the way of life changes, so does the demand in the real estate market. It is no secret that foreigners make up a large percentage of real estate buyers in Croatia, but they are definitely in the lead in buying second home real estate.
Nowadays, a new way of life is that you can work in Germany but live in Croatia. With the pandemic, the home office has become a necessity, but it is increasingly becoming a choice. Work can be done remotely with the same, if not better, efficiency, so it doesn't matter where you are.
Many point out the negative sides of the coronavirus pandemic that have turned our lives upside down, but this situation has led people to reconsider all aspects of life and has led some to positive life changes.
Before buying a second home property you need to pay attention to several factors. It is important to discuss locations with family and anyone who might be involved in this decision. Take into account all your wishes and needs and we definitely recommend that you hire an agent specializing in second home real estate to find the best options for your second home.
Some buyers already have a clear vision for their second home property before buying it, but if you are unsure consider all the options and possibilities. If you have a large family, often go on vacation or just want your place to be called home, second home real estate is what you are looking for.
Some property owners will buy a second home property as an investment in the future. This usually means renting a property.
Whatever you decide, keep one thing in mind - real estate is not a renewable resource. There are fewer and fewer of them on the market, there are more buyers than available real estate.
This time of change may be the ideal time to take a new step.
Contact a specialist in second home real estate in Croatia - Euro Immobilien at: