Croatia Real Estate Report 2016 - Business Monitor International - Industry Reports

Croatia Real Estate Report 2016

Croatia Real Estate Report 2016 - Business Monitor International - Industry Reports
Croatia Real Estate Report 2016
Published Sep 24, 2016
55 pages — Published Sep 24, 2016
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� Business Monitor International Ltd Page - pharmaceuticals, textiles, food and drink. Split, the second largest city in Croatia and an important nautical trade hub, is located on the Adriatic Coast and as such has a strong industrial link across the sea. ...The turbulent economic situation has thrown uncertainty into the market and, as a result, consumers are spending less and saving more in order to weather the storm. We anticipate vacancies remaining higher in Split and Zadar due to the economic conditions, however Zagreb is seeing maintained demand for prime units from both domestic and foreign companies, as the recession comes to an end and the nation continues its tentative recovery. Tourism remains a key component of this sector, which is likely to be affected by the Brexit vote, as fewer Europeans are likely to travel due to the headwinds the vote has caused to the broader EU market. ...However, the downturn in the EU market has had a large impact on trade here, with demand dropping across the board and affecting developer confidence due to the macroeconomic situation.

...BMI View: An overwhelming vote of no confidence in the Croatian Prime Minister, Tihomir Oreskovic, has sent ripples through the Croatian parliament - delaying much-needed structural reforms and affecting investor sentiment. Additionally, continued growth in public debt, high levels of unemployment and headwinds from the volatile EU market post-Brexit will add further strain to the economy. ...Structural problems are plaguing the Croatian economy, alongside fiscal vulnerabilities such as growing public debt and rising interest payments that look to impede the Balkan nation s economic recovery. As a result, foreign direct investment flows are down significantly from levels seen prior to the financial crisis in ----, slow corporate sector restructuring is further dragging on private sector growth, and high unemployment, coupled with inactivity, is seeing poverty rise across the state - subsequently dwindling consumer demand and restricting greater growth in spending that is needed to boost economic growth. Owing to internal issues and external headwinds, the Croatian economy is considered less appealing than its regional peers in the Central and Eastern European region - which has seen investors look to these nations in order to mitigate the risk posed by investing in Croatian assets. ...Being the largest city in the nation, and the capital, Zagreb offers some stability concerning the three cities we cover in our forecast in terms of real estate growth. The main industries in Zagreb are the production of electronic machines and devices, chemicals,

...� Business Monitor International Ltd Page - improving in the years to come, as long as external economic issues do not interrupt infrastructure projects. The industrial real estate sector should witness marginal growth further down the line; however, for the time being, we anticipate little activity in the market, and see focus revolving around capital Zagreb, which will see rentals remain fairly stable. ...

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Business Monitor International - Industry Reports—Established in 1984, Business Monitor International is a leading online publisher of specialist business information on global emerging markets. Business Monitor's range of quarterly services covers political risk, finance, macroeconomic performance, outlook and forecast, industry sectors and the business operating environment. Each Industry Report has been researched at source, and features latest-available data covering production, sales, imports and exports; 5-year industry forecasts through end-2012; company rankings and competitive landscapes for multinational and local manufacturers and suppliers; and analysis of latest industry developments, trends and regulatory changes.

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Business Monitor International - Industry Reports. "Croatia Real Estate Report 2016" Sep 24, 2016. Alacra Store. Oct 25, 2016. <>
Business Monitor International - Industry Reports. (2016). Croatia Real Estate Report 2016 Sep 24, 2016. New York, NY: Alacra Store. Retrieved Oct 25, 2016 from <>
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