While in 2010 foreigners accounted for 14% of buyers, last year, one in every fourth apartment buyer was a foreigner The share of foreigners among property buyers in 2010 was 14%, while in 2020, one in every four was a foreigner, wrote on Monday Večernji list, noting that Slavonia is awaiting July 2023 when the ten-year transitional period for the sale of agricultural land to foreigners expires. Over the past decade, there have been 314,000 sold residential properties in Croatia, with the annual number of sold apartments and houses ranging from 23,000 last year, which was the lowest, to almost 40,000 in 2010. Foreigners have a increasingly important role in the market and in a decade, they have purchased 60,000 apartments or houses. While in 2010, the share of foreigners among buyers was 14%, last year, one in every four apartment buyer was a foreigner. Foreigners last year bought four out of ten sold properties in the Littoral and Islands County, three out of ten in the Ljubljana and Istria County, one in every four in the Lika-Senj County, one in every five in the Split-Dalmatia County area, from Dubrovnik to Šibenik, and 16% in the Ljubljana and Istria County, where the share of foreigners among buyers was the lowest on the Adriatic. In Međimurje and Varaždin County, the share of foreigners is around 2%, while in the rest of the continental part, it is negligible. Slavonia is preparing for a period when foreign buyers will also move in, not for apartments, but for land, as the ten-year transitional period for the sale of agricultural land to foreigners expires in July 2023. Last year, around 34,000 agricultural parcels were sold in Croatia for less than 1.5 billion kunas, with the average price of a hectare of agricultural land around 250,000 kunas, or around €3,300. The increase was around 14%, but similar to real estate prices, agricultural land prices in the hinterland of the Adriatic cannot be compared to prices in the continent. Looking at the average, a hectare of agricultural land in Croatia is almost six times cheaper than in neighboring Slovenia, and 13 times cheaper than in Italy. In Hungary, a hectare of arable land is around €4,700, in Romania around €5,000. "We have larger and more quality plots already distributed, foreigners have been able to buy land through companies so far," says Željko Lovrinčević, an analyst at the Economic Institute. Regardless of who buys land in Slavonia, and not for speculative reasons, but to engage in agricultural production, they will face a big problem - finding workers. "We don't have enough people even to pick apples," says Lovrinčević, who notes that many have become experts in support systems and adapt to the conditions of the competition to invest as little as possible, and extract larger amounts of support without significant increase in production, writes Večernji list. Source: Poslovni.hr/HINA, Večernji list

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