June the 3rd, 2022 - Czechs are purchasing Croatian coastal property en masse, preferring real estate on the Croatian Adriatic coast to property in their own country.
As Poslovni Dnevnik writes, according to the Czech media publication iDnes, Czechs are currently preferring to buy Croatian coastal property than cottages in their own homeland. According to local Zadar portal Zadarski, the reason lies in the fact that here in Croatia, at least according to Czech real estate agents, it is still possible to find an apartment on the coast at a lower price than a holiday home on the Czech continent, and they claim that it is also easier to capitalise on this investment.
"It's true, they're looking for properties, preferably with a garden. The interest is fairly high,'' confirmed analyst Sarlota Smutna for the Czech media.
Namely, this interest from Czech nationals in Croatian coastal property increased especially during the global coronavirus pandemic, and property in Croatia, Portugal, Spain and Italy is very much in demand. According to iDnes, along the Adriatic, an apartment can be bought for as little as 63,000 kroner or 2,600 euros per square metre, while a square meter in the City of Prague now costs 4,900 euros.
According to Tomas Jelinek, the director of the 21 Century real estate agency network, the demand from Czech nationals for real estate abroad is due to the fact that property in the Czech Republic has reached extremely high prices, and Jelinek claims that it's now possible to find real estate at a better price than on the Czech continent further afield.
A similar claim is being made by the well known REMAX agency, which offers Croatian coastal property at prices lower than cottages in the Czech Republic cost, especially those in the vicinity of Prague, where prices are extremely high.
"The average prices of holiday homes are still higher in most countries than the average prices of houses in the Czech Republic, but they're still lower than real estate prices in Prague, where the offer consists mainly of large houses for families," Hana Kontris told iDnes.
Property prices in the Czech Republic have doubled over the last two years, and according to Eurostat, just last year alone, that growth stood at 25 percent, the highest of all EU member states.
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